Rich Statistics
Though the main headlines have been reserved for Alan Bond and his re-entry to the list, 19 years after being declared bankrupt, there are other stories when inspecting the BRW Rich 200.
Wealth is on the rise with Billionnaires increasing from 30 to 38 and the total wealth of the Rich List being the highest ever with $139.6bn.
A member of the Packer family no longer holds the top spot for the first time in 20 years. This is not because Media and Gaming have gone backwards in the last year. The most telling sign is that the Miners have surged. Andrew Forrest of Fortescue Metals (FMG.AX) tops the list with a personal wealth of $9.41bn, the largest sum recorded in history of the Rich List. All the more incredible that Forrest was 5th last year with a shade under $4bn.
James Packer falls to 3rd on the list behind Frank Lowy of Westfield (WDC.AX)
Following the Miners still, the youngest person to make the Rich List is Nathan Tinkler, who at just 32 years old has amassed $426m when selling a portion of his interest in Macarthur Coal (MCC.AX). The wealthiest list debutants, at $991m each Travers Duncan and Brian Flannery from Queensland-based coal miner Felix Resources (FLX.AX).
Will the trends for Resources continue? With the urbanisation of 150m Chinese residents planned over the next 15 years it will be hard to dislodge the miners from the list.
Wealth is on the rise with Billionnaires increasing from 30 to 38 and the total wealth of the Rich List being the highest ever with $139.6bn.
A member of the Packer family no longer holds the top spot for the first time in 20 years. This is not because Media and Gaming have gone backwards in the last year. The most telling sign is that the Miners have surged. Andrew Forrest of Fortescue Metals (FMG.AX) tops the list with a personal wealth of $9.41bn, the largest sum recorded in history of the Rich List. All the more incredible that Forrest was 5th last year with a shade under $4bn.
James Packer falls to 3rd on the list behind Frank Lowy of Westfield (WDC.AX)
Following the Miners still, the youngest person to make the Rich List is Nathan Tinkler, who at just 32 years old has amassed $426m when selling a portion of his interest in Macarthur Coal (MCC.AX). The wealthiest list debutants, at $991m each Travers Duncan and Brian Flannery from Queensland-based coal miner Felix Resources (FLX.AX).
Will the trends for Resources continue? With the urbanisation of 150m Chinese residents planned over the next 15 years it will be hard to dislodge the miners from the list.
posted by SMC Trader at
5/30/2008
3 Comments:
One only has to follow the market sectors to realise that the resource sector is all but holding up the Australian stock market so it stands to reason that our rich list would be Miners. My motto is do as the rich do to get rich. Wait for price to get back to fair value and then buy low and sell high in these stocks.
looking forward - you would have to think that after the buildings and factories are built and the raw materials are transported there - what is needed to convert raw materials into something more valuable? Energy.
it is predicted that by 2050, the world's population will be 8.2 billion and 80% of those will live in urban areas. How about food?
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