Property sector dominates Australia’s rich list
Real estate continues to be the main driver of wealth this year The Australian Rich List, with a quarter of Australia’s 250 richest people earning their profits from building, developing and managing real estate assets.
The list, which was published today as an insert in The Australianfeatures Justin Hemmes, bullish pub tycoon and Merivale CEO, on its cover.
The famous publican’s balance sheet has swelled in the past 12 months after a buying spree of more than $200 million of pubs in Sydney, regional NSW and Victoria.
The total wealth on the 2022 list reached a total of $520.20 billion, an increase of 10% from the previous year, with the average wealth standing at $2.08 billion.
The highest earning sectors on the list are real estate with 70 wealthy advertisers split between real estate and construction.
Unsurprisingly, Meriton chief executive Harry Triguboff was ranked sixth on The List, with a wealth of $20.81 billion, for being Australia’s richest “property player”.
Take a look at the top fifty ranked real estate moguls on this year’s list.
50.
Tim Gourner
gurner
$660 million
▲ Late last year, Gurner announced plans to turn a Southbank hostel at 334 City Road into a $250 million apartment tower.
49.
Paul Blackburn
Blackburn
$672 million
48.
Michael Buxton
MAB Society
$722 million
47.
Andrew Buxton
MAB Society
$722 million
46.
Harry Stamoulis
Harry Stamoulis and his family
$752 million
45.
Jonathan Hallinan
BPM Corp.
$764 million
▲ BPM, alongside construction firm Maxcon, delivered the $90 million 256-key hotel, under development for Indian firm Interglobe, early last year.
44.
Nick DiMauro
The DiMauro Group
$835 million
43.
Larry Kestelman
LK-Group
$847 million
42.
Andrew Robert
Multiplex
$856 million
41.
Lloyd Williams
Crown Casino and Entertainment Complex
$868 million
40.
Nick Andrianakos
Nick Andrianakos and his family
$896 million
39.
Junhui Lin
Aqualand
$908 million
38.
Shangjin Lin
Aqualand
$908 million
37.
Sam Arnaout
Iris Capital
$912 million
▲ Sydney developer, hotel and pub owner Sam Arnaout has rocked the scorching Gold Coast apartment market to stay strong, unveiling two high-rise developments in the past year.
36.
Max Beck
Beck Company
$922 million
35.
Kevin Seymour
Kevin Seymour and his family
$950 million
34.
Arnold Vitocco
Vitocco Companies
$1 billion
33.
Denis Wagner
wagner
$1 billion
32.
With Makris
Makris Group
$1.03 billion
▲ Last year, Con Makris disposed of two shopping centers in Adelaide for a combined value of $110 million, further reducing its real estate footprint in the city centre.
31.
Nechema Werdiger
Juilliard Corporation
$1.05 billion
30.
Chris Morris
Colonial Leisure Group
$1.09 billion
29.
Theo Karedis
Arkadia
$1.14 billion
28.
Sandy Oatley
Australia
$1.15 billion
27.
Ervin Vidor
Toga Group
$1.19 billion
▲ Toga Group last year announced plans to build a 16-storey, $150 million development at the center of Sydney’s Green Square urban renewal area.
26.
Charlotte Vidor
Toga Group
$1.19 billion
25.
Ervin Vidor
Toga Group
$1.19 billion
24.
Justin Hemmes
Merivale Group
$1.31 billion
▲ Hemmes has moved to regional pubs, such as the Quarterdeck Hotel in Narooma on the New South Wales south coast during the pandemic.
23.
raymond barro
Barro Group
$1.41 billion
22.
Tony Perich
green fields
$1.48 billion
21.
Arthur Laundy
Hotels in Laundy
$1.48 billion
20.
Peter Gunn
PGA Investments
$1.47 billion
19.
Gordon Fu
Yu Feng shopping malls
$1.51 billion
18.
Jack Lin
Yu Feng shopping malls
$1.51 billion
17.
Sam Kennard
Kennards Self Storage
$1.52 billion
16.
Terry Snow
Capital Airport Group
$1.74 billion
15.
Ye Lipei
Super Ocean Group
$1.75 billion
14.
Sam Tarascio
Properties in Salta
$1.78 billion
▲ Billionaire Sam Tarascio’s Salta Properties is planning a $1.2bn industrial estate after acquiring a 123ha site in Melbourne’s outer southeast.
13.
Shaun Bonnett
Precision Group
$1.8 billion
12.
Bob El
Leda Holdings
$1.81 billion
11.
Maha Sinnathamby
Springfield City Group
$1.91 billion
ten.
Michael Hodgson
PPM Australasia Group
$2.08 billion
9.
Marc Besen
Marc Besen and his family
$2.44 billion
8.
Bruce Mathieson
Australian Leisure and Hospitality
$2.5 billion
7.
Maurice Alter
Pacific Group
$2.62 billion
6.
Hui Wing Mau
Shimao Real Estate Properties
$2.94 billion
5.
Greg Goodman
Good man
$3.52 billion
▲ Rapidly accelerating e-commerce demand helped propel Goodman Group’s full-year results, posting a 15% increase in profit to $1.22 billion last year.
4.
Chau Chak Wing
Kingold Group
$3.74 billion
3.
Lang Walker
Walker Society
$5.03 billion
2.
John Gandel
Gandel Group
$5.05 billion
1.
Harry Triguboff
Meriton
$20.8 billion
▲ In December, Meriton filed plans for a two-tower development in Surfers Paradise comprising a 70-story tower with 382 apartments and a 50-story tower with 255 apartments.
