Unpacking the 2021 Rich List Australia: Who Made the Cut?

Right then, let’s have a squiz at who was raking it in back in 2021. The annual Rich List Australia always gets people talking, and this year was no different. We’ve seen some familiar names pop up again, but also some new faces making their mark. It’s a pretty interesting snapshot of where the big money is in the country, from mining moguls to tech wizards. So, grab a cuppa, and let’s unpack who made the cut on the 2021 Rich List Australia.

Key Takeaways

• Gina Rinehart continues to dominate, with her iron ore empire still a massive money-spinner.
• The rise of tech is undeniable, with companies like Canva and Atlassian showing serious global clout.
• Established names like the Pratt family with Visy and Kerry Stokes in media remain strong contenders.
• The legacy of pioneers like Lang Hancock and Dick Dusseldorp still echoes in the fortunes of their successors.
• The 2021 Rich List Australia highlights a mix of old-school industries and new-age digital ventures.

1. Gina Rinehart’s Iron Ore Empire

Gina Rinehart is a name that pops up pretty much every time the Rich List comes out, and for good reason. She’s basically synonymous with iron ore in Australia, and her wealth is staggering. It all really kicked off thanks to her dad, Lang Hancock. He was the one who spotted the massive iron ore deposits in the Pilbara region of Western Australia back in the 1950s. Imagine flying over in a storm and seeing the red rocks – that was the moment.

Her fortune, sitting at a cool $30.06 billion on the 2021 Rich List, is largely built on that discovery. It’s pretty wild to think one bloke’s observation could lead to something so massive.

Here’s a bit of a breakdown of how it all came to be:

• The Pilbara Discovery: Lang Hancock’s keen eye in 1952 identified the vast iron ore reserves. This was the foundation.
• Hancock Prospecting: Gina took over her father’s company, Hancock Prospecting, and really expanded its operations.
• Global Demand: The growth of steel manufacturing, particularly in Asia, created a huge market for Australian iron ore.

It’s not just about digging stuff out of the ground, though. It’s about the whole operation – the mining, the transport, the deals with international buyers. It’s a complex business that’s been running for decades.

She’s not just sitting on her laurels either. Rinehart has also been involved in other ventures, but it’s the iron ore that really cemented her place at the top of Australia’s wealthiest individuals.

2. Afterpay’s Billion-Dollar Fortune

It’s hard to believe how quickly some companies can go from a simple idea to a massive success story. Afterpay is definitely one of those. Founded by Nick Molnar and Anthony Eisen, this payments company really took off, especially with younger Aussies. They basically made it super easy for people to buy now and pay later, and it turns out, that’s a pretty popular idea.

The company’s rapid rise saw it enter the top 20 listed companies on the ASX within just five years of starting. That’s a huge achievement, especially considering how tough the sharemarket can be. By August 2021, Afterpay was so big that it was snapped up by Square for a whopping $39 billion. It just goes to show what can happen when you tap into what people actually want.

Here’s a quick look at how Afterpay became such a powerhouse:

• Innovation in Payments: They introduced a buy-now-pay-later service that was simple and accessible.
• Millennial Appeal: The service resonated strongly with a younger demographic looking for flexible payment options.
• Market Entry: Listing on the ASX was a major milestone, proving their financial strength.
• Global Acquisition: The sale to Square highlighted its international appeal and value.

It’s a classic example of how technology can really change the game in finance. The whole buy-now-pay-later sector has exploded, and Afterpay was right there at the forefront. It’s pretty wild to think about the wealth generated from something so integrated into our daily shopping habits. You can see how this kind of innovation is changing the landscape for businesses and consumers alike, much like how Canva changed graphic design.

The speed at which Afterpay grew and was eventually acquired is a testament to a business model that met a clear consumer need in the digital age. It’s a story that’s become a benchmark for fintech success in Australia and beyond.

3. Canva’s Global Reach

It’s pretty wild to think about how far Canva has come, right? Melanie Perkins and Cliff Obrecht started this whole thing back in 2013, and now it’s a household name for anyone needing to whip up a design, whether it’s for work or just for fun. They’ve really made graphic design accessible to everyone, which is no small feat.

Canva’s journey from a simple online tool to a global design powerhouse is seriously impressive. They’ve managed to build a platform that’s used by millions of people all over the world, from students making presentations to big companies creating marketing materials. It’s become a go-to for quick, easy, and professional-looking designs.

Here’s a quick look at how they’ve grown:

• User Base: Millions of active users globally.
• Team Size: A rapidly expanding team of designers, engineers, and support staff.
• Product Offerings: Constantly adding new templates, features, and tools to the platform.

It’s not just about making pretty pictures, though. Canva has also become a significant player in the tech world, achieving a massive valuation. This kind of success story really puts Australian innovation on the map.

The company’s focus on user-friendliness and a vast library of templates has been key to its widespread adoption. It’s a testament to how understanding what people need and building a solid product can lead to massive growth.

It’s amazing to see how they’ve managed to keep things fresh and relevant in such a competitive market. They’ve consistently adapted and expanded their services, making it easier than ever for people to create what they envision. You can check out more about their early days and how they’ve grown here.

4. Atlassian’s Nasdaq Listing

Remember back in 2015? It feels like a lifetime ago, especially in the tech world. That was the year Mike Cannon-Brookes and Scott Farquhar took their software company, Atlassian, public on the Nasdaq. They started the whole thing back in 2002 with just ten grand on credit cards, which is pretty wild when you think about it.

The Nasdaq listing was a massive moment, not just for Atlassian, but for Australian tech on the global stage. On its first day as a public company, Atlassian was valued at around $7.9 billion. To put that in perspective, it was about the same as Qantas back then. Fast forward to May 2021, and the company’s worth had shot up to a staggering $72 billion. If it were listed on the ASX, it would have been the eighth-biggest company here.

Here’s a quick look at how things have progressed:

• 2002: Atlassian founded with $10,000.
• 2015: Listed on the Nasdaq, valued at $7.9 billion on day one.
• 2021: Market cap reached $72 billion.

It really shows how far Australian innovation can go when it gets the right backing and hits the right markets.

The journey from a small startup funded by credit cards to a global tech giant listed on one of the world’s biggest stock exchanges is a testament to their vision and execution. It wasn’t just about building software; it was about building a business that could compete and win internationally.

5. Richard Pratt’s Visy Board

Richard Pratt, a name synonymous with Australian business, left a massive mark on the packaging industry. He took the reins of Visy Board from his father and really grew it into something huge. It wasn’t just about making boxes, though; it was about building a business that could compete on a global scale.

Pratt’s journey with Visy is a classic Aussie success story. He started out in acting, believe it or not, before joining the family business. Under his leadership, Visy expanded significantly, becoming a major player not just in Australia but internationally. His son, Anthony, has continued this legacy, taking the packaging giant even further.

The company’s impact on the Australian economy is undeniable, providing jobs and driving innovation in manufacturing.

Here’s a look at some key aspects of the Visy empire:

• Global Reach: Visy operates across multiple countries, demonstrating a significant international footprint.
• Product Diversification: Beyond just cardboard, the company has been involved in various packaging solutions and related materials.
• Family Legacy: The business has remained a family affair, with multiple generations contributing to its growth and success.

The story of Visy under Richard Pratt is one of ambition and smart business decisions. It shows how a local company can become a global force, adapting to changing markets and consumer needs over the decades. It’s a testament to entrepreneurial spirit.

Anthony Pratt, Richard’s son, has really taken the business to new heights, making Pratt Industries and Visy some of the largest privately owned companies in their fields worldwide. It’s a legacy built on hard work and a keen eye for opportunity.

6. Kerry Stokes’ Media Holdings

Kerry Stokes, a name synonymous with Australian media, has built a significant empire over the decades. While his wealth, estimated at $7.18 billion on the 2021 Rich List, is now heavily tied to resources, his media interests remain a cornerstone of his business dealings.

Stokes’ journey into media ownership wasn’t immediate. He started out in property development back in the 1960s and 70s, even listing a shopping centre company on the Perth exchange in 1971. But it was his strategic acquisitions in the media landscape that truly cemented his influence.

His primary vehicle for these media ventures is Seven West Media. This company is a major player, encompassing:

• Seven Network: One of Australia’s dominant free-to-air television broadcasters, responsible for a significant portion of the nation’s news, sports, and entertainment programming.
• The West Australian: A leading newspaper in Western Australia, providing daily news and commentary for the state.
• Other regional newspapers and digital assets: Extending his reach across various media platforms.

Stokes’ ability to navigate the ever-changing media environment has been a defining characteristic of his success. He’s weathered technological shifts and market fluctuations, maintaining a strong presence in an industry that has challenged many others.

The media landscape is constantly evolving, and Stokes has shown a knack for adapting. From traditional print and broadcast to the digital age, his companies have continued to be a source of information and entertainment for millions of Australians. It’s a testament to his long-term vision and business acumen.

While the exact breakdown of his wealth might fluctuate, the impact of Kerry Stokes’ media holdings on the Australian public sphere is undeniable. He’s been a consistent figure in shaping how many Australians consume news and entertainment for years.

7. Dick Dusseldorp’s Lendlease

When you think about big Australian companies that have shaped the country’s landscape, Lendlease definitely pops up. It all started back in 1958, thanks to a Dutch immigrant named Dick Dusseldorp. He founded the company initially to help finance building projects, but it quickly grew into something much bigger.

Lendlease has been involved in some seriously iconic Australian projects. We’re talking about things like the Snowy Hydro scheme and even parts of the Sydney Opera House. It’s pretty amazing to think that a company started by one person’s vision could end up contributing so much to the nation’s infrastructure.

Over the years, Lendlease has evolved quite a bit. It’s not just about building anymore; they’re involved in property development, investment, and management too. They’ve expanded globally, working on projects in various countries.

Here are a few key aspects of Lendlease’s journey:

• Founding Vision: Dick Dusseldorp’s entrepreneurial spirit was the driving force.
• Project Portfolio: Involvement in major national infrastructure and iconic buildings.
• Global Expansion: Growing from an Australian company to an international player.
• Diversification: Moving beyond just construction into broader property services.

The company’s ability to adapt and grow over decades is a testament to its solid foundations and forward-thinking approach. It’s a story of how a migrant’s dream turned into a significant force in the property and infrastructure world.

Lendlease continues to be a major player in the property development scene, and its impact on Australia’s built environment is undeniable. You can find out more about their history on the Lendlease website.

8. Lang Hancock’s Pilbara Discovery

It’s pretty wild to think about how a simple flight over Western Australia’s Pilbara region back in 1952 ended up changing the country’s economic landscape forever. Lang Hancock, flying low during a storm, noticed the rich red colour of the rocks. He realised it was oxidised iron, and that observation became the bedrock for a massive iron ore export industry.

This discovery wasn’t just a personal win for Hancock; it laid the groundwork for his daughter, Gina Rinehart, to become one of Australia’s wealthiest individuals. The sheer scale of the Pilbara’s mineral wealth is staggering, and Hancock’s keen eye spotted it when few others did. It really highlights how a single moment of insight can have such a huge impact.

Here’s a look at the impact:

• Massive Export Growth: The iron ore found in the Pilbara became a cornerstone of Australia’s export market, eventually surpassing traditional earners like wool.
• Foundation for Rinehart’s Fortune: Lang Hancock’s initial work directly led to the success of Hancock Prospecting Pty Ltd, which is now steered by Gina Rinehart.
• Economic Diversification: The discovery helped diversify Australia’s economy beyond agriculture and traditional industries.

The Pilbara region itself is a treasure trove of natural resources, and Lang Hancock’s accidental find was just the beginning of unlocking its potential for the global market. It’s a story that’s still unfolding today.

It’s a classic tale of spotting opportunity where others saw only rugged terrain. This discovery really set the stage for the resources boom that would shape Australia’s economy for decades to come, and it’s a significant part of the story behind Hancock Prospecting’s ongoing success.

9. Mike Cannon-Brookes and Scott Farquhar

Alright, let’s talk about Mike Cannon-Brookes and Scott Farquhar. These two blokes are the brains behind Atlassian, and honestly, they’ve built something pretty special. You know, the company that makes all those handy tools like Jira and Trello that heaps of businesses use to keep things organised? Yeah, that’s them.

They’ve really changed the game when it comes to software for teams. It wasn’t just about making another app; they focused on making software that actually helps people work together better, no matter where they are. It’s pretty impressive stuff when you think about it.

Atlassian’s journey is a classic Aussie success story. They started small, but their vision was always big. They didn’t go the usual route of getting bought out early; instead, they stuck it out and listed on the Nasdaq, which is a massive deal. This move really put them on the global map.

Here’s a quick look at how their wealth has grown:

Year	Estimated Net Worth (AUD)
2020	$16.9 billion
2021	$22.2 billion
2022	$27.1 billion

It’s not just about the money, though. They’re also known for their philanthropic efforts. They’ve put a lot of their own cash into tackling big issues like climate change and affordable housing. It shows they’re thinking beyond just building a business; they want to make a real difference.

These guys have shown that you can build a massive tech company from Australia and compete on a global scale. Their focus on practical tools for collaboration has clearly struck a chord with businesses worldwide, leading to significant growth and influence in the tech industry.

Mike Cannon-Brookes is now solely responsible for the day-to-day operations of Atlassian, with co-founder Scott Farquhar continuing his role as a board member. It’s a partnership that’s clearly worked wonders, and it’ll be interesting to see what they do next.

10. Anthony Pratt’s Packaging Giant

Anthony Pratt and his family are seriously big players on the Australian rich list, raking in a massive $25.84 billion. Their wealth comes from Visy, a global empire that deals in packaging and recycling. Anthony is the executive chairman of the whole operation, steering the ship that his father, Richard, built up before him.

Visy’s reach is pretty impressive, with operations spread across the globe. They’re involved in everything from making cardboard boxes to recycling paper and plastics. It’s a pretty complex business, but they seem to have it down pat.

Here’s a quick look at what makes Visy tick:

• Manufacturing: They produce a huge range of packaging products, from corrugated boxes to plastic containers.
• Recycling: A big part of their business is collecting and processing recyclable materials, turning waste into new products.
• Paper Production: Visy also makes its own paper, which is a key ingredient for many of its packaging solutions.

It’s a family affair, really. Anthony took over the reins from his father, Richard, who himself inherited the business from his own father. This kind of legacy business often has a unique way of operating, with a long-term view that can be hard for newer companies to match.

The sheer scale of Visy’s operations means they have a significant impact on supply chains worldwide. Their focus on recycling also positions them well in an era where sustainability is becoming increasingly important for consumers and businesses alike.

It’s no wonder they’ve landed such a high spot on the rich list. Building a business like Visy from the ground up, and then expanding it internationally, takes a serious amount of grit and smarts. They’ve definitely made their mark.

Wrapping It Up

So, there you have it. The 2021 Rich List Australia paints a pretty interesting picture, doesn’t it? We’ve seen some familiar faces, sure, but also a whole heap of new ones, especially from the tech world. It really shows how much things are changing, with digital ideas now making people seriously wealthy. It’s a reminder that while some fortunes are built on old industries, the future seems to be all about innovation and, well, the internet. Makes you wonder who’ll be on the list next year, and what kind of businesses will get them there.

Frequently Asked Questions

Who is Gina Rinehart and why is she on the Rich List?

Gina Rinehart is a big name in Australian business, mainly because of her family’s iron ore mines in the Pilbara region of Western Australia. Her dad, Lang Hancock, discovered the massive iron ore deposits, and Gina took over and grew the business into a huge success, making her one of the wealthiest people in Australia.

What’s the deal with Afterpay and its billionaires?

Afterpay is a super popular payment service that lets people buy things now and pay later. It became a massive success, especially with younger people. The founders, Nick Molnar and Anthony Eisen, got incredibly rich when the company was sold for a huge amount of money, landing them on the Rich List.

How did Canva make its founders so wealthy?

Canva is a really easy-to-use online design tool. It’s become a global hit, allowing anyone to create graphics for social media, presentations, and more. The founders, Melanie Perkins and Cliff Obrecht, saw their company grow incredibly fast, making them some of Australia’s wealthiest individuals.

What is Atlassian and why are its founders listed?

Atlassian is a software company that makes tools for teams to work together, like Jira and Trello. Mike Cannon-Brookes and Scott Farquhar started it and it’s now a massive global success, listed on the Nasdaq stock exchange. Their success in the tech world has made them incredibly wealthy.

Who are Richard and Anthony Pratt, and what is Visy Board?

Richard Pratt was a major figure in Australian business, heading up Visy Board, a company that makes packaging and paper products. His son, Anthony Pratt, has taken the business even further, expanding it into a global giant and continuing the family’s immense wealth.

Why is Kerry Stokes on the Rich List?

Kerry Stokes is a well-known media owner in Australia, controlling the Seven television network and various newspapers, especially in Western Australia. While he’s famous for his media holdings, his wealth also grew from earlier property developments and now includes significant investments in the resources sector.