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Rich List

Rich List 2023


Jake Paco at his warehouse in Alexandria, Sydney.

His teachers said he’d end up in jail. Now he’s on the Young Rich List

Geedup founder Jake Paco has conquered his demons and is taking his cult streetwear brand from western Sydney to New York.

  • Carrie LaFrenz

The green energy multimillionaires taking over the Young Rich List

US-based investor and Young Rich List debutant Gregory Green made an estimated $100 million after selling his share of a landfill gas developer.

  • Michael Bailey
The 350 largest family offices in Australia are estimated to manage between $515 billion and $695 billion of wealth outside their operating businesses.

You’re rich, but are you family office rich?

Financial advisers are anticipating the transfer of an estimated $3.5 trillion between generations by 2030 to spur more interest in family offices.

  • Primrose Riordan
At 27, Ed Craven became Australia’s youngest ever self-made billionaire in 2022.

Rich Lister accused of encouraging ‘incredibly inappropriate’ behaviour

Online casino entrepreneur Ed Craven has been accused of encouraging inappropriate behaviour towards a female escort on his live-streaming platform.

  • Primrose Riordan and Tess Bennett
Peter Hearl, the chairman of Endeavour Group.

Endeavour accuses pubs billionaire of using ‘selective’ information

Peter Hearl, chairman of the Dan Murphy’s and hotels owner Endeavour, wrote to shareholders hitting back at 15 per cent shareholder Bruce Mathieson’s criticism.

  • Updated
  • Simon Evans, Carrie LaFrenz and Zoe Samios


Jason Willoughby, Squadron Energy’s CEO said coal fired power station needed to be urgently phased out.

Squadron Energy to spend $20b on renewables by 2030

Squadron expands to become Australia’s biggest renewables’ player after its $4.2 billion purchase of CWP Renewables late last year.

  • Primrose Riordan

This Rich Lister added $1b to his wealth in less than two years

Medical technology firm Pro Medicus has delivered blistering returns this year. Its success has propelled co-founder Sam Hupert into the $2 billion club.

  • Julie-anne Sprague
Mutual trust, Managing Partner Phil Harkness and Partner, Head of Strategy Tracy Conlan.

Myer, Baillieu family’s wealth firm eyes commercial property

Mutual Trust is the country’s largest and most significant multifamily office. It says there are opportunities in the big fall in real asset values.

  • Primrose Riordan
Bob Oatley’s children Sandy, Rosalind and Ian  are considering a sale of Hamilton Island.

Oatley family empire carve-up starts with vineyards

The heirs to a fortune assembled by Bob Oatley are already attempting to sell Hamilton Island, their largest asset, for more than $1 billion.

  • Updated
  • Primrose Riordan
Roger Corbett says Dan Murphy’s has “lost its mojo”.

Roger Corbett backs Mathiesons, says Dan Murphy’s has ‘lost its mojo’

The former Woolworths chief executive, along with the pub billionaire, wants ex-Myer chairman Bill Wavish appointed to the board of Endeavour.

  • Carrie LaFrenz


Andrew Forrest’s father has died.

Billionaire Andrew Forrest mourns his father

Andrew Forrest led a horseback guard of honour for his father Don at the family’s cherished Minderoo cattle station in the Pilbara.

  • Brad Thompson
South African philanthropist, and Prospa’s largest shareholder, Martin Moshal.

Reclusive Sydney gambling mogul emerges as kingmaker in South Africa

Martin Moshal is the largest individual political donor in South Africa, according to electoral records analysed by a non-profit.

  • Primrose Riordan
Sleeping Duck founders Winston Wijeyeratne (right) and Selvam Sinnappan.

Adir Shiffman takes Sleeping Duck Rich Listers to court in $60m stoush

The venture capitalist says the founders of the mattress e-tailer shut him out of the business.

  • Patrick Durkin
Bob Oatley’s children Sandy, Rosalind and Ian Oatley are considering a sale of Hamilton Island.

Malaysian billionaires eye a bid for Hamilton Island

Not every sibling in the wealthy Oatley family is as enthusiastic to sell the prized asset purchased by Bob Oatley, the legendary sailor who died in 2016.

  • Primrose Riordan
Rich Lister Raphael Geminder owns 50.004 per cent of Pact Group and wants to buy the rest.

Rich Lister Raphael Geminder’s other packaging disaster

The billionaire wants to take Pact Group off the ASX, but another listed group in which he owns 66pc has also suffered a big slide.

  • Simon Evans
Saint Haven founder Tim Gurner.

‘He didn’t mean you’: Manager to staff at Gurner’s wellness business

Staff at the Rich Lister’s anti-ageing network Saint Haven have been told comments about “arrogance” in the employment market were “in no way directed at our teams”.

  • Mark Di Stefano
Fairfax Media

Billionaire Geminder moves to take Pact private

The board of the packaging group told shareholders to ‘take no action’ for now, but Raphael Geminder already owns just over 50 per cent of Pact.

  • Updated
  • Simon Evans
Property developer Tim Gurner said unemployment needed to rise by between 40 and 50 per cent.

Gurner got his start with loans from his boss, grandfather

Gurner’s comments have gone viral – a mask-off moment for the property industry.

  • Mark Di Stefano
Eighty-eight per cent of wealthy families surveyed said it was possible to give children too much money.

Why Australia’s wealthy hide their true riches from friends and family

But one Rich Lister warns not talking openly about wealth can end badly for relatives left behind. 

  • Primrose Riordan
Rode Microphones’ Peter Freedman.

‘We can build anything’: Microphone mogul donates $1m to design

Peter Freedman, Rich Lister and founder of audio equipment giant Rode, hopes his gift will help business design and build things locally and reignite “Factory Australia”.

  • Patrick Durkin
Fortescue Metals Group executive chairman Andrew Forrest.

Forrest empire exodus spreads with two more CEOs

Former Mincor chief executive Gabrielle Iwanow and Joost Heymeijer, the boss of the Forrest family’s hospitality and lifestyle arm, have departed.

  • Brad Thompson


Those summer nights: Who went where in Europe ’23

Here are some tips from Australian Europhiles to celebrate the year that everyone who could spent summer up north. Call it the Class of 2023.

  • Fiona Carruthers and Samantha Hutchinson
The Smorgon family and its development partners want to turn this Darlinghurst building into a local outpost of Soho House.

Sydney’s Soho House back to the drawing board as neighbours baulk

One resident said loud staff would “disturb the peace” on their breaks; another was worried knocked-over bins would attract people “looking for food”.

  • Primrose Riordan
Sydney Harbour in 2013, when more than half of Australian family offices had not yet been established.

Australia’s secretive family offices in decade-long boom

Australian family offices have grown exponentially over the past decade and their CEOs are among the best paid.

  • Primrose Riordan
Solomon Lew at Premier Investments’ Melbourne headquarters on Monday.

From Dr Zhivago coats to a $3.5b empire: How Solomon Lew did it

The retail legend has long combined astute deal-making with a natural affinity for what the consumer wants.

  • Michael Bailey
Rich Lister Raphael Geminder owns 49 per cent of Pact Group.

Rich Lister Geminder’s pain may be ending after $1.3b wipeout

Raphael Geminder, chairman of Pact Group, has got some relief from the packaging company’s slump as its shares spike following an asset sale.

  • Simon Evans
Will Marshall (left) and David Hancock outside the Village Inn on Saturday.

Hundreds turn out to save eastern Sydney pub

More than 350 residents turned out at Paddington’s Village Inn in Sydney on Saturday in an attempt to protect the heritage-listed pub from being converted into a retail outlet.

  • Samantha Hutchinson and Sally Patten

Atlassian co-founders are $6b richer after earnings update

Mike Cannon-Brookes and Scott Farquhar have added around $3.2 billion to their respective wealth after the software company’s shares surged more than 23 per cent.

  • Tess Bennett


Where the ultra-rich are putting their money

A survey of 1000 of Australia’s richest families shows how they have retreated to safe haven assets to ride out the uncertainty associated with the war in Ukraine and rising inflation.

  • Joanna Mather

Inside the unravelling of Perth’s worst-kept secret

This week in The Fin podcast, resources reporter Peter Ker on the split in the Forrest empire, how it came to light and what it means for the iron ore giant and its green energy plans.