Iron ore magnate Gina Rinehart has risen to the top of the state’s 2024 Power 500 with her influence over mining projects behind a $45 billion fortune the clinching factor.
Mrs Rinehart has leapfrogged fellow mining rich lister Fortescue founder Andrew Forrest who settled at number two, mainly due a marital breakdown which has halved his personal wealth, though not his influence.
Premier Roger Cook sat at number three, above the remainder of a top 10 littered with political and business leaders.
The top 10 represent the most influential of 18 categories, each with their own top 10, covering 500 individuals which presents a comprehensive picture of those who exert influence over business and beyond in Western Australia: from mining magnates to property moguls, politicians and philanthropists.
Included in this, the third annual edition of the Power 500, are a Future 500 – highlighting some up and comers; expatriates whose influence lies mainly outside WA; and obituaries and past WA leaders.
Business News is pleased to present this third edition of the Power 500, designed to be a detailed guide to the state’s most influential people by sector of interest.
A firm-but-fair lens was applied throughout an exhaustive research effort undertaken by a team of 12 journalists over the course of six months. Extensive deliberation and debate resulted in 83 new faces debuting in this year’s publication.
The greatest shifts occurred in the technology and innovation section, reflecting the growing and evolving tech landscape in WA.
That was followed by noteworthy changes within the unions and advocacy, property, construction and architecture, and resources sections.
Seismic shifts in power are reflected in the top 10 section, mirroring the changes that have taken place in the dominant resources sector over the past year.
Put simply, power is defined here as an ability to control people or events.
In the past 12 months, power was wielded through mergers and acquisitions, through the blocking of deals, via strategic alliances or perseverance in the face of hardship, and through leadership and decision making.
The fleeting nature of power is also demonstrated through some changes from last year’s publication.
It comes against a backdrop of global economic uncertainty and challenges across industries as the pandemic largely moves into the rear-view mirror.
Women represent four out of the top 10 most powerful figures in WA, and account for about a quarter of the book.
Although this figure indicates the prevalence of male-dominated industries in WA, it is a promising statistic for the future of the state’s leadership landscape.
Our journalists assessed what was new and what had changed when compiling the publication’s 500 biographies, building on the analysis of the inaugural edition and last year’s book.
Changes within the sectors were carefully considered and calculated, often reflecting shifts in power, a promotion or promising future prospects.
Again, we included a top-10 ranking for each of the 19 sections, with all other profiles appearing in no particular order. The profile after number 10 is not 11th place.
This edition contains three new features: Future 500, Expatriates, and Obituaries. The Future 500 section highlights the achievements of a handful of young Western Australians already making waves in their respective industries.
heir success to date and growth potential ensures their names will become increasingly familiar in business circles and the broader community.
The Expatriates section details several Western Australians who wield power globally: from a soccer star to WA’s agent general in the UK.
And lastly, our new Obituaries section pays tribute to influential Western Australians who passed away in 2023-24. These accomplished individuals would likely have featured in the Power 500 if the publication was printed during their heyday.
The 500 names featured on these pages represent some of the state’s most striking success stories and detail the power and influence that follows.
