{"id":38818,"date":"2022-05-27T14:02:49","date_gmt":"2022-05-27T02:02:49","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38818"},"modified":"2022-05-27T14:02:49","modified_gmt":"2022-05-27T02:02:49","slug":"2022-australian-financial-review-rich-list","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/2022-australian-financial-review-rich-list\/","title":{"rendered":"2022 Australian Financial Review rich list"},"content":{"rendered":"

PHOTO: Gina Rinehart. FILE<\/strong><\/p>\n

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Gina Rinehart tops the 2022 Financial Review Rich List<\/a>\u00a0for a third consecutive year, withstanding a challenge for pole position from the co-founders of Atlassian, Mike Cannon-Brookes and Scott Farquhar.<\/p>\n

The tech duo were, for a few months in late 2021, the richest in the land as a soaring Atlassian share price and a falling iron ore price caused a switch at the top since last May\u2019s Rich List. But the tech sector was later sold off and the iron ore price rebounded. Rinehart, the founder of Pilbara iron ore mine Roy Hill, has her grip firmly on first place with an estimated $34.02 billion fortune, up from $31.06 billion in 2021.<\/p>\n

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Mike Cannon-Brookes (No.3); Robyn Denholm (120); Peter Freedman (192); Gina Rinehart (1); Sam Arnaout (63); Cliff Obrecht and Melanie Perkins (8).\u00a0<\/strong><\/em><\/cite><\/p>\n<\/figcaption><\/figure>\n

The strong iron ore price as at April, when we ruled off the Rich List, also kept Andrew Forrest ensconced in second spot at $30.72 billion, a figure that\u2019s more than treble his wealth in 2019 when he sat in eighth spot with $7.99 billion.<\/p>\n

Atlassian shares slumped more than 46 per cent from their peak in October last year but, as at April, they were still trading above where they were a year ago. That\u2019s boosted Cannon-Brookes\u2019 fortune to $27.83 billion, up from $20.18 billion. Farquhar sits in fourth spot with $26.41 billion, up from $20 billion.<\/p>\n

It\u2019s a similar story for another tech team. Canva founders Melanie Perkins, Cliff Obrecht and Cameron Adams collectively lost billions as a 17 per cent slide in the Nasdaq punished valuations, even for tech companies that are privately held.<\/p>\n

Perkins and Obrecht, who are married, occupy eighth place with a combined wealth of $13.8 billion. That\u2019s less than the $16.5 billion they achieved when the Young Rich List was published in October but still almost double the wealth they held on the 2021 Rich List.<\/p>\n

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Peter Freedman on the cover of AFR Magazine\u2019s 2022 Rich List issue.\u00a0Dominic Lorrimer<\/cite><\/strong><\/em><\/p>\n<\/figcaption><\/figure>\n

The fall pushes Adams below Kerry Stokes and into 12th position with a $6.9 billion paper fortune, albeit a figure more than treble a year ago, on a new understanding of how much equity he holds as Canva\u2019s chief product officer.<\/p>\n

Despite the sell-off, the 2022 Rich List marks a record year for wealth creation. The rise in iron ore, property and solid gains in manufacturing \u2013 and the fact that tech was still well up overall \u2013 has widened the gap between the top of the list and the rest.<\/p>\n<\/section>\n