Mike Cannon Blueks, co-founder and CEO of Atlassian.
Lisa Marie Williams/Bloomberg
This story is part of Australia’s richest 2025 Forbes coverage. See the full list here.
It was a bumpy year for the mining property that has long dominated Australia’s richest and highest ranks, as it hinders the prices of iron ore in China. Technology-related businesses have made up for its decline in momentum, contributing to a double-digit jump in collective wealth, up nearly 10% from a year ago.
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Still, the mining of Barones Gina Linehart, which manages privately held Hancock exploration, fell 4% to $29 billion, despite a 4% decline in wealth. He remains the wealthiest person. In recent years, Rinehart has strengthened its natural gas investment through a series of strategic acquisitions by Hancock Energy. For example, founder Chris Ellison is one of three drop-offs this year, a problematic mining mineral resource energy assets.
The second richest man last year and the previous year, big name Andrew Forest ranked fifth as shares in Fortescue Metals Group have fallen more than a third since the last measured stock. Shared with his estranged wife Nicola, his wealth shrunk from the ranks to $5.4 billion, down from $16.1 billion.
Real estate massive Harry Trigbov has reclaimed the No. 2 spot after a five-year gap with a net worth of $18.8 billion. Amidst a strong rental market, Triguboff’s Meriton Group is expanding its rental housing portfolio from buildings with new construction slates.
The co-founders of software companies Atlassian, Mike Cannon Brucks and Scott Farker both came in first, third and fourth, respectively. They are the biggest dollar winners this year, adding more than $4 billion each to their net worth. Atlassian’s stock, which says it has more than 300,000 customers worldwide, has risen after reporting a fifth of revenues increased to $1.3 billion in the last quarter.
Another prominent business duo in the 28 Lister group is that their assets are scattered by Sam Hupert and Anthony Hall, co-founders of medical imaging company Pro Medicus. The biggest winner of the year is on the percentage terms this year, and their wealth has more than doubled along the surge in Pro Medicus stocks, which withdraws 90% of revenue from North America.
Four new entrants include Ed Craven and Bijan Tehrani, who founded and operated Melbourne-based Stake.com, an offshore crypto casino. Craven and Tehrani, 31, 29, met online as teenagers, but are the youngest on this list. Charles Gibbon, who invested in billionaire Richard White’s software company Wisetech Global, and 20 years ago in Global Global and joined the company’s board of directors, has also made his debut. The Snow Family is made up of heirs of Terence Snow, who passed away last August and was the executive chairman of Capital Airport Group, the operator of Canberra Airports.
The lowest cutoff was $975 million, which was less than $1 billion last year.
Editorial support and report by Anuradha Raghunathan. Additional reports from Matt Craig, Gloria Harright, Fisanu Promchanya, Jessica Tan, Hank Tucker and Jennifer Wells.
Methodology:
This list was compiled using stockholdings and financial information obtained from families and individuals, stock exchanges, annual reports and analysts. The ranking lists both individual and family fates, including those shared among relatives. Private companies were evaluated based on similar companies that were publicly available. Public fate may have been calculated based on stock prices and exchange rates as of January 31, 2025, with adjustments made for stocks that are either traded thinly or with low public floats. This list can also include foreigners with business, housing or other ties to the country, or citizens who do not live in the country but have important business or other ties to the country. The editor reserves the right to modify the information to take into account new information or to delete the list.
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We would like to thank Govinda Singh, Colliers International, Dan Voellm, AP Hospitality Advisors, and other experts who helped with reporting and evaluation.
