Australia’s Top 10 Real Estate Brokers
The latest Australian rich list includes a host of real estate brokers whose wealth has exploded in the last 12 months.
This year’s list, compiled by The Australianhas 10 property names in the top 50, led by well-known property developer Harry Triguboff.
Triguboff is sixth on the global rich list with $20.81 billion in assets, with the majority of his wealth coming from his company Meriton.
‘High-rise Harry’ began his career building small apartments in Sydney in the 1960s and went on to become one of Australia’s largest property developers.
According to Forbes, the 89-year-old has built more than 75,000 apartments across Sydney over the past 60 years.
In second place (16th overall) was developer John Gandel with a wealth of $5.05 billion.
Gandel owns half of the Southern Hemisphere’s largest mall, Chadstone, with over 500 stores in Melbourne’s east end. He derived most of his wealth from shopping malls he bought from Myer for $37 million in the 1980s.
At three (17th overall) with a net worth of $5.03 billion is Lang Walker, the chief executive and co-founder of Walker Corp, which owns office towers, industrial estates and residential projects.
Next is Chau Chak Wing, chairman of Kingold Group, whose business interests span real estate, hospitality, education and banking and has a net worth of $3.7 billion.
Kingold was established in 1989 and is one of the largest real estate developers in Guangdong Province in southern China.
Greg Goodman, founder of Goodman Group with $3.52 billion, completes the top five.
Goodman Group was founded in the mid-1980s and has become an industrial property powerhouse, developing state-of-the-art logistics facilities close to major consumer hubs.
At six, with $2.94 billion, is Chinese businessman Hui Wing Mau who chairs Shimao Property Holdings, a Hong Kong-listed property developer with projects in dozens of Chinese cities.
In seventh place, with $2.62 billion, Maurice Alter bought his first property in the 1950s and established Pacific Shopping Centers in 1979, which became Melbourne-based Pacific Group.
At eight years old, with $2.56 billion, is John Van Lieshout, who made his fortune from the Super A-Mart furniture chain. He sold it in 2006 but retained full ownership of some stores.
Its wealth is now based on a large real estate portfolio including shopping centers and offices.
Ninth is Bruce Mathieson, with $2.50 billion. Mathieson is best known for his high profile ad sales. It owns 25% of the country’s largest hotel and pub operator, Australian Leisure & Hospitality.
Finally, with a net worth of $2.44 billion, is Marc Besen, founder of fashion chain Sussan with Melbourne billionaire John Gandel.
Besen also founded Highpoint Shopping Center in Melbourne, while his daughter Naomi Milgrom now runs the Sussan and Sportsgirl Group’s 500 stores.
Overall, real estate was the most lucrative sector on the list, with 59 people in the top 250 making their fortunes in the real estate industry.