The Australian Financial Review’s 2017 Rich List has been dominated by property tycoons, with five of the ten people who have made the list stemming from the property sector.
Harry Triguboff – $11.45 billion
Triguboff, also known as high-rise Harry, is an Australian billionaire real estate property developer and the founder and managing director of Meriton, Australia’s largest apartment developer. He was no. 1 on last year’s list, but was gracious in his defeat to Richard Pratt who came in first this time around.
Frank Lowy – $8.26 billion
Lowy is chairman of global shopping centre corporation Westfield and a former Chairman of Scentre Group. He also came in at fourth on the list in 2016.
John Gandel – $6.10 billion
Melbourne shopping centre magnate John Gandel, who owns half of Chadstone Shopping Centre came in at no. 7 on $6.1 billion.
Hui Wing Mau – $6.00 billion
Hui Wing Mau is a Chinese-Australian entrepreneur and billionaire, and the founder and the chairman of Hong Kong’s Shimao Property, which develops large scale, high quality, integrated real estate projects, focusing on cities with high, dynamic economic growth potential in China.
Stan Perron – $3.90 billion
Perron is the oldest billionaire on the list and had a stellar 12 months with his company Perron Investments, which made a net profit of $244 million in 2016.