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.