The houses where Australia's billionaires live, and how much they cost
How much does it cost to live like a Rich Lister?
Many of Australia's billionaires amassed their fortunes in the property industry, but even those who built wealth in other sectors such as mining or technology have then been keen purchasers of residential real estate.
Australia is now home to 161 billionaires, up from 150 a year ago, the Financial Review Rich List for 2025, published in full on Friday, reveals.
The top industry for wealth creation was mining, whose rich listers are worth a collective $141.3 billion, followed by property, worth $125.8 billion across 44 entrants.
Australia's richest person is mining magnate Gina Rinehart, worth $38.1 billion. Rinehart's residence in Perth's Dalkeith consists of three blocks in a cluster, a strip of land next door and an adjacent empty block that has been for sale for several years and has a price guide of $9 million.
Second on the list is property developer and Meriton founder Harry Triguboff, worth $29.7 billion, who owns an expansive waterfront block in Sydney's Vaucluse, purchased in 1983 for $4.1 million, and next door added in 1998 for $6 million.
He was followed by cardboard box king Anthony Pratt and family, of Visy, valued at $25.9 billion. Pratt recently made a move to the US, but the family's historic Raheen mansion is in Kew in Melbourne's leafy east.
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News.com.au
3 days ago
- News.com.au
'Not the moment' for abandoned rare earths mega-merger, says Lynas boss
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The discussions came into focus last year, especially given Aussie mining magnate Gina Rinehart's status as a major shareholder on both registers, but MP has become a lot less attractive from a valuation standpoint since then. Despite losing cash, its status as the only rare earths operation in the US has seen its share price surge more than 100% this year as the Trump Administration's rhetoric has provided a rocket for local critical minerals stocks in the US, compared to a ~39% gain for Lynas, the lowest cost producer globally of key light rare earth product neodymium-praseodymium. Lynas copped a downgrade to underperform from Macquarie this week, which suggested its market cap was pricing in NdPr prices in the order of US$95/kg, not the US$63/kg spot price currently posted by Chinese price reporting agencies. But it has engineered a shift in focus this year, becoming the first non-Chinese producer from its Malaysian processing plant of separated dysprosium and terbium oxides, key materials that boost the performance of magnets underpinning future tech like EV motors, wind turbines, drones and defence applications. Placed under export controls this year as China led a rearguard to Donald Trump's 'Liberation Day' tariffs, the need to source these outside the Middle Kingdom has never been more acute. He ain't heavy That's placed resources like ionic clays in Malaysia and, to a lesser extent, Brazil, on Lynas' radar. It has so far signed an MoU with a State Government in Malaysia, a country with the same geological potential for ionic clays like those found in southern China. The investment is so far small, around $25m at the Kuantan plant, though Lacaze said more investment would be needed if the decision was made to expand its capacity further and really eat into China's grip on that end of the market. After touching on M&A in a speech at the Macquarie Conference in May, she said Lynas keeps a "watching brief" on rare earths projects globally but had, so far, decided investing in expanding Mt Weld, its monster deposit near Laverton in WA, was a better option. "Last year we also upgraded our resource and our reserve statement and a key part of that was the increase in heavies at Mt Weld. So we can make decisions about mining the Mt Weld orebody differently to give us more feedstock," she said. Earlier Lacaze told the room at Optus Stadium that customers needed to be realistic about the need to develop a supply chain diversified from China, which has near total control of the permanent magnet market. "I would say to you that outside of China today, we would still say that there are three segments of customers," she said. "There is one who ascribes to what I would call the hoping and wishing and praying – otherwise known as ostrich strategy – which is if I keep my fingers crossed and my eyes closed and wish very hard, this will go away and I'll still be able to buy cheap stuff from China. "There is a second group of customers who recognise that this is a clarion call, and that even though there may have been a brief reprieve, that China has demonstrated its ability to weaponise this economic advantage. "And then there is a third group who have recognised it and are actively engaged in setting up these supply agreements with us and recognise that you do actually have to apply a risk based pricing approach to sourcing these materials." But the critical aspect for the US, EU countries and other western nations is they can't have modern manufacturing industry without once obscure rare earth minerals. "If your objective is to reshore manufacturing, as indeed the US Government's objective is, then they must have a secure supply chain of rare earths," Lacaze said, though she says the "runway to there being significant new supply" is still "probably years away. Hopefuls line up While Lynas is the undisputed leader among the ASX's rare earths stocks, there are a number aiming to become producers or develop deposits that draw the attention of major players. ASX mineral sands giant Iluka Resources (ASX:ILU) has Canberra onside to build a refinery at Eneabba near Geraldton, where it will process monazite waste rock from previous mineral sands mining to deliver the first separated rare earth oxides in Australia from 2027. The $1.8bn project could open the door to the development of one of Africa's most promising deposits Mrima Hill in Kenya, where ASX junior RareX (ASX:REE) is partnering with Iluka to see whether the mine can be developed in East Africa and have it material processed at Eneabba. RareX also holds the Cummins Range rare earths, phosphate, gallium and scandium project in WA's north, while fellow WA explorer Victory Metals (ASX:VTM) has pulled in a US$190 million letter of intent from the US Government's Export-Import Bank and a pledged of US$10m from Saudi Arabia's sovereign investment firm to potentially bankroll its North Stanmore project in WA. Sanabil Investments is providing a US$10m loan and first right to provide future funding for A$330m for the development and construction of a processing plant at North Stanmore. According to a scoping study in March the $337m project would product 59,300t of mixed rare earth carbonate containing 13 rare earth oxides and 3080t of scandium and hafnium oxide annually over a 31 year life, with an NPV8 of $1.2bn. Over in Brazil a host of companies have outlined high grade ionic clay hosted deposits, led by Meteoric Resources (ASX:MEI) at its Caldeira project and Gina Rinehart-backed Brazilian Rare Earths (ASX:BRE), which boasts the Rocha da Rocha deposit. Other companies operating in Brazil's burgeoning rare earths space include early stage explorer Australian Mines (ASX:AUZ), which holds the Jequie project in Bahia and Brazilian Critical Minerals (ASX:BCM), which put out a scoping study in February on its Ema project in Amazonas, which suggested the mine could produce 4800tpa of TREO within a 55.3% TREO MREC product as unit operating costs on an NdPr basis of just US$16.95/kg. That would make the mine profitable even at current depressed prices, with a post-tax NPV8 of US$498m at just US$74/kg NdPr, post-tax IRR of 55% and payback period of 28 months. Over in Africa, the proposed $150m sale of Peak Rare Earths (ASX:PEK) to China's Shenghe Resources, which will hand its Ngualla project in Tanzania to one of China's largest rare earth producers has highlighted the significance of the continent to the geopolitical contest over the commodities. On the other side of southern Africa Aldoro Resources (ASX:ARN) is drilling out what it has called a potential tier-1 discovery of rare earths and niobium at Kameelburg in Namibia in a 1.4km wide carbonatite plug that juts 275m out of the ground over the surrounding peneplain.
West Australian
4 days ago
- West Australian
Gina Rinehart labels net zero a ‘magic pudding' and says Australia should aspire to be like the United States
Gina Rinehart says net zero is an 'unobtainable and expensive magic pudding', and believes Australia should follow the lead of the US. Mrs Rinehart made the comments hours after her Hancock Prospecting and Rio Tinto committed to spending $2.5 billion to extend the life of their jointly-owned Hope Downs iron ore mine in the Pilbara. Australia's richest person said projects like Hope Downs will not be built in the future if Australia does not 'honestly confront and urgently address the reasons' for its declining levels of investment in recent years. 'It's time not to be distracted by name calling like 'far right' and other names and stick to the fact that investment is beneficial, and unfortunately declining in Australia,' she said. 'We need to stand up, ignore the truth twisters, truth hiders and truth avoiders, and to point out what's needed if we want to see such investment bring jobs and benefits to many Aussies. 'Not forgetting even if Australia reduces its approximately one per cent share of emissions, what benefit is there really in the overwhelming expense and consequences that such reduction brings.' Mrs Rinehart said chasing the 'unobtainable and expensive magic pudding that net zero is' will 'negatively impact our way of life' for generations to come. 'Why not let those who want to reduce their emissions do so, and who want net zero efforts, be the ones who pay for them,' she said. 'While Australia instead follows the lead of (the) USA and other countries who put their citizens first.' Rio and Hancock on Tuesday said they are contributing an equal share to bring the Hope Downs 2 and Bedded Hilltop iron ore deposits into production. Rio said the 'above-water-table' iron ore pits have an annual production capacity of 31 million tonnes and will sustain production from the Hope Downs joint venture 'into the future'. Ore mined at the two sites will be transported to Hope Downs 1 for processing, with first ore from the two new deposits scheduled for 2027. More than 950 jobs will be created during construction, according to Rio, and once operational the extension project 'will help sustain' a workforce of about 1000 full-time equivalent roles in the Greater Hope Downs mining area.
Sydney Morning Herald
19-06-2025
- Sydney Morning Herald
Gina Rinehart spends thousands evacuating media chief from Israel
Having friends (or rather bosses) in high places has never been more helpful for well-connected PR and government relations guy James Radford, who was stuck in Israel over the weekend as Iranian missiles rained down. But not stuck for long. Radford, who runs his own Radford Consulting and is external affairs manager for Hancock Prospecting, was able to call upon his boss, mining billionaire Gina Rinehart, to get him out of Israel pronto. Others, who were part of an official delegation, were not so lucky. It seems when Rinehart isn't keeping the Australian swim team afloat and giving out $100,000 cheques to her staff, she is saving them from war zones. Benevolent capitalism at work. And obviously, billionaire-tier travel insurance is many rungs above Budget Direct. One estimate put the cost of the extraction at $60,000, but Radford said it could be even higher. 'Gina Rinehart was incredible – she worked day and night to try and get us out of there by whatever means possible and safe,' Radford told CBD from Melbourne. 'We definitely tried to get the entire group out, multiple Australians out – however there was no capacity in the system as this was the first day,' he said. 'My first evacuation was cancelled.' Radford spent part of his time in the country on an official Israeli government-organised Australian Pride Mission to Israel, a two-week culture tour which was to culminate in Tel Aviv Pride. He also caught up the Australian-Israel Chamber of Commerce group, visited a kibbutz that was a site of an October 7 massacre and spent time with former Labor senator Nova Peris and media personality Erin Molan.
