Businessman Clive Palmer arrives at the Supreme Court in Brisbane, Tuesday, December 4, 2018. (AAP Image/Dan Peled) NO ARCHIVING
Businessman Clive Palmer arrives at the Supreme Court in Brisbane, Tuesday, December 4, 2018. (AAP Image/Dan Peled) NO ARCHIVING

Billionaire Clive is back on Forbes Rich List

CLIVE Palmer is back on Forbes Australia Rich List for 2019, for the first time in five years - and as a billionaire.

He returns to the list of Australia's 50 richest for the first time since 2014 with an estimated fortune of $1.8 billion, placing him at No. 20.

It comes three years after his Townsville nickel refinery was placed into administration, with workers laid off. Mr Palmer said last year he planned to re-open the refinery by Christmas 2018, but news of its revival is yet to be cemented.

It is also Mr Palmer's Forbes debut as a billionaire, thanks to court-ordered royalty payments from CITIC Pacific Mining's huge Sino Iron project in Western Australia, Forbes reports.

Another returnee with a local connection is Computershare founder and owner of Townsville's The Ville Resort-Casino Chris Morris, who ranks No. 49 with $760 million.

Tycoons on the 2019 Forbes Australia Rich List saw mixed results as some fortunes rose and some fell.

Mining mogul Gina Rinehart retains the top spot on the list with a net worth of US$14.8 billion.

Property tycoon Harry Triguboff remains at the No. 2 spot with a net worth of $9 billion.

Cardboard-box kingpin Anthony Pratt and retail tycoon Frank Lowy also retain their third and fourth ranks with net worths of $6.8 billion and $6.5 billion respectively.

Overall, the wealth of 22 tycoons fell, partly because of the Australian dollar's 8.7% drop against the U.S. dollar since the previous Australia Rich List in November 2017.

Of the 23 fortunes that rose, the biggest gain went to Atlassian founders Mike Cannon-Brookes and Scott Farquhar, who are up $3 billion each. Their $6.4 billion fortunes put them in a tie for fifth place, up five spots.

Another notable tech billionaire is WiseTech Global founder Richard White, who jumped 16 places to No. 17 after his fortune swelled to $2.2 billion.

Coal baron Chris Wallin also makes a comeback. He's at No. 41 with a net worth of $910 million, bucking the downward trend for most mining tycoons.

Forbes Australia Rich List

  • #1 Gina Rinehart | $14.8 billion
  • #2 Harry Triguboff | $9 billion
  • #3 Anthony Pratt | $6.8 billion
  • #4 Frank Lowy | $6.5 billion
  • #5 Mike Cannon-Brookes | $6.4 billion
  • #5 Scott Farquhar | $6.4 billion
  • #7 Andrew Forrest | $4.3 billion
  • #8 John Gandel | $4 billion
  • #9 James Packer | $3.6 billion
  • #10 Lindsay Fox | $3.5 billion
  • #11 Bianca Rinehart & siblings | $3.1 billion
  • #12 Kerry Stokes | $2.9 billion
  • #13 Michael Hintze | $2.55 billion
  • #14 John, Alan & Bruce Wilson | $2.5 billion
  • #15 Lang Walker | $2.4 billion
  • #16 Fiona Geminder | $2.3 billion
  • #17 Richard White | $2.2 billion
  • #18 Maurice Alter | $2.1 billion
  • #19 David Hains | $1.9 billion
  • #20 Clive Palmer | $1.8 billion

Click here for the full list.



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