17/02/2006 - 15:32

WA's finest make Forbes 40 richest list

17/02/2006 - 15:32

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Seven Western Australians made their way into Forbes' Australia and New Zealand's 40 richest list with Kerry Stokes leading the charge.

Seven Western Australians made their way into Forbes' Australia and New Zealand's 40 richest list with Kerry Stokes leading the charge.

James Packer's $5.8 billion inheritance, including a majority holding in media empire PBL, from his father has resulted in the 38-year old being catapulted to the number one position, while deli-owner-turned-shopping-mall-Midas Frank Lowy came in second with a net worth of $3.8 billion.

The first West Australian in the list came in at number seven, ironically, with Seven network chairman Kerry Stokes who has a $1.1 billion net worth. His assets also include WesTrac, a large Caterpillar equipment dealer.

Perth-based property mogul Stanley Perron is up from last year's list coming in at number 11 with an $880 million net worth. His property portfolio stretches from Sydney to Perth and he also owns Toyota's distribution network in Western Australia.

Number thirteen position is claimed by BGC Group owner Len Buckeridge with a net worth of $740 million, while Ralph Sarich stays at number 18 with a net worth of $640 million following a move into the Perth, Sydney and Melbourne property markets.

Multiplex founder John Roberts dropped to number 23 this year, but still maintains a net worth of over $500 million, while Gina Rinehart came in at number 30 with a net worth of $425 million following inheriting a fortune created by the Hamersley mine, which is mined by Rio Tinto.

Last but not least of the West Australians is Andrew Forrest (a.k.a. Twiggy) who came in at the 31st position worth $400 million. He founded Anaconda Nickel in 1994 and has since moved on to Fortescue Metals which has recently started construction of its Pilbara Iron Ore project.

Below is the full list of Australia and New Zealand's 40 richest:

1. James Packer
2. Frank Lowy
3. Richard Pratt
4. Richard and Christopher Chandler
5. Graeme Hart
6. John Gandel
7. Kerry Stokes
8. Harry Triguboff
9. Bob Oatley
10. Bruce Gordon
11. Stanley Perron
12. Lindsay Fox
13. Len Buckeridge
14. Gerald Harvey
15. Langley Walker
16. John van Lieshout
17. Paul Ramsay
18. Ralph Sarich
19. Robert Ingham
20. Solomon Lew
21. Gordon Fu
22. Filippo Casella
23. John Roberts
24. Robert Ell
25. Lloyd Williams
26. Terrence Peabody
27. Greg Poche
28. Maurice Alter
29. Gordon Merchant
30. Gina Rinehart
31. Andrew Forrest
32. Paul Little
33. Ian Norman
34. Reginald Grundy
35. Douglas Myers
36. Mark Rowsthorn
37. Douglas Goodfellow
38. Ken Talbot
39. Christopher Morris
40. Bruno Grollo

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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