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Clive climbs into 10 wealthiest Australians as Skroo drops out

Business

Flight Centre’s founders have fallen out of Australia’s rich list for the first time in more than 20 years as iron ore and technology became the big money stocks in 2020.

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Clive Palmer was the richest Queenslander coming in at number eight on the list with $9.8 billion, an improvement from last year’s 15th place.

Blackall-born Nick Politis, who chairs Eagers Automotive and is the power behind the Sydney Roosters, has also done well with his wealth jumping 6 per cent to $1.3 billion.

The AFR Rich List was headed by iron ore miners Gina Rinehart with $29 billion and in total, 12 people with links to Western Australia’s iron ore more than doubled their wealth to almost $80 billion collectively. Andrew “Twiggy” Forrest was second on the list with $23 billion.

Queensland did well, too. The state had 23 people make the list, up from 18 last year, but Flight Centre’s Graham Turner, Bill James and Geoff Harris did not make the list for the first time since the 1990s.

Australia’s youngest entry into the list was Afterpay’s Nick Molnar with $1.8 billion.

The top five rich listers have a collective wealth of more than $100 billion.

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