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AFR Rich List taken out by property investors

November 9, 2020
Categories: Commercial, Investments

The Australian Financial Review’s annual Rich List was led by property investors this year. What can investors learn from the property tycoons ranked among Australia’s wealthiest?

Property developers and investors were the backbone of the Australian Financial Review’s 2020 Rich List.

The list highlights Australia’s wealthiest 200 people, and – much like previous years – it’s brimming with property investors. Almost a quarter of the Rich List owe their wealth to real estate.

Whether it was millions (or billions) earned from 80’s or 90’s commercial property investments, or hold and sell strategies which still keep them in the game today, these tycoons have a wealth of knowledge we can learn from. Let’s meet a few of them.

Property tycoons in Rich List top 20

Many of these names will be familiar to those with a finger on Australia’s property pulse and others who’ve studied AFR Rich Lists in previous years. Here are Australia’s richest who’ve real estate to thank for their success.

#4 – Hui Wing Mau

China’s eighth richest man is Australia’s fourth. At $18.06 billion, Mau is chairman of diversified property group Shimao Property with investments across Australia and China.

#7 – Harry Triguboff 

At number seven, Meriton Group’s Triguboff has built more than 80,000 apartments since he started the company in 1963. The group had a carrying valuation of $16.8 billion as of February 2020.

#9 – Frank Lowy

Rich List regular and shopping centre magnate Frank Lowy is Australia’s ninth richest person. He exited Westfield as Chairman in 2017 and is now retired in Israel with $8.3 billion in his pocket.

#10 – Kerry Stokes

Rounding out the top 10 is Kerry Stokes with a net worth of $6.26 billion. While known for his huge stake in media outlet Seven Group Holdings, Stokes made a fortune from the Perth property boom in the 1960s and 1970s.

#15 – Chau Chak Wing

At number 15, Chak Wing built his fortune in Sydney property during the 1980s, investing in hotels and residential developments. His net worth is $4.6 billion (a 197-per cent increase from last year).

#19 – Lang Walker

Number 19 on the Rich List is Lang Walker at $4.27 billion. The Executive Chairman of the Walker Foundation doesn’t rest on his laurels, having $35 billion worth of property projects in the pipeline for the next 15 years.

It’s all about property

You’ll have a hard time finding any Rich Lister – whether mining magnate or tech billionaire – with less than a multi-million-dollar property portfolio.

We’ve seen technology mogul and fifth ranked Rich Lister Michael Cannon-Brookes exceed a $240-million property portfolio this year, as well as Andrew ‘Twiggy’ Forrest “investing” in +$16 million homes. Real estate continues to be a massive source of wealth for the untouchably affluent.

This is despite issues plaguing many parts of Australia’s property markets in 2020, COVID-19 being the most obvious.

However, considering all the attention the pandemic has received, and all the fear it’s injected into property investors’ minds, real estate continues to operate as an endlessly giving tool for many Australians wanting to build their wealth.

The Rich List’s property tycoons have the same amount of crystal balls as you and me. It is merely a matter of experience and investment nous that translates to success on the property playing field.

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