AFR Rich List 2020

AFR Rich List 2020: Property tycoons Harry Triguboff, Frank Lowy among Australia’s richest people

PHOTO: Shopping centre magnate Frank Lowy spends his time in Israel and Sydney’s Point Piper. Photo: ADAM HOLLINGWORTH

The biggest property names on the AFR Rich List have been revealed, with a string of property developers and trophy home owners topping the list.

Four of the 10 richest Australians made their wealth in the property industry, and retain billionaire status even amid the uncertain economy and global health crisis, while almost a quarter of the richest 200 built their empires in the property sector.

Shimao Property Holdings chairman Hui Wing Mau ranked fourth overall, valued at an eye-watering $18.06 billion, after the Hong Kong-based Australian citizen made his fortune in property developments in China and Australia.

Meriton founder and prolific apartment developer Harry Triguboff took seventh place with a $14.42 billion fortune. Mr Triguboff lives on a vast waterfront landholding in Sydney’s Vaucluse, although his trophy home is set to be demolished and the block subdivided.

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Harry Triguboff’s Vaucluse home. Photo: Dallas Kilponen

Westfield shopping centre empire Frank Lowy was ninth, at $8.3 billion. Mr Lowy splits his time between Israel and a waterfront residence in Sydney’s exclusive Point Piper.

DIGICAM 00000 PHOTO ADAM HOLLINGWORTH.PICTURES SHOWS THE POINT PIPER HOME OF FRANK LOWY CENTRE, YELLOW , FOUNDER OF WESTFIELDS AND THE NEIGHBOURING PROPERTY OF SALVADORE PAINO TO THE RIGHT  TO THE LEFT IS THE HOME OF LACHLAN MURDOCH. 020712
Frank Lowy’s Point Piper home. Photo: Adam Hollingworth

Other Rich List property players

12 – Alan Wilson & family (Melbourne) $4.93 billion. Reece bathrooms owner, with profits up 13 per cent after a reno-filled pandemic

19 – Lang Walker $4.27 billion (Sydney). $35 billion worth of projects in the pipeline

27 – Terry Snow $3.19 billion (Canberra). Canberra Airport owner

33 – Michael Hodgson (Perth) $2.33 billion. Owner of industrial sites and Perth residential subdivision Midland

46 – Greg Goodman & family (Sydney) $2.02 billion. Goodman Group owns warehouses for e-commerce

47 – Bob Ell (Surfers Paradise) $1.98 billion. Owns Sydney industrial property

76 – Maha Sinnathamby (Brisbane) $1.35 billion. Behind the Greater Springfield Project master-planned community

82 – Con Makris & family (Gold Coast) $1.32 billion. Property empire includes shopping centres and marina piers

177 – Bob Rose (Sydney) $605 million. Built Breakfast Point

185 – Tim Gurner (Melbourne) $581 million. Apartment developer in Melbourne and Brisbane

198 – Danny Hill (Monaco) $546 million. Owner of Chandon Development Group

200 – Nigel Satterley (Perth) $540 million. Australia’s biggest private land developer

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