Australia's billionaires became $50,000 richer every single minute of 2025, according to Oxfam analysis of the latest rich list. The wealth of the 20 richest Australians now exceeds that of the bottom three million households, highlighting stark inequality.
Oxfam Australia chief executive Jennifer Tierney said: "There is something fundamentally wrong with a system where extreme wealth keeps skyrocketing while so many people are struggling to afford the basics, and governments claim there is not enough money for housing, healthcare, climate action and essential services."
The analysis, based on the Australian Financial Review's annual rich list, shows the total wealth of Australia's 200 richest people reached $707.25 billion, up from $667.8 billion the previous year. For billionaires specifically, collective wealth increased by $48,973 per minute over the year.
Gina Rinehart topped the list for the seventh consecutive year, with an estimated fortune of $39.01 billion, up 2 per cent. Property magnate Harry Triguboff saw his wealth grow 9 per cent to $32.28 billion, while packaging tycoon Anthony Pratt and his family lost 3 per cent, ranking third.
South African-born, Swiss-resident Australian citizen Ivan Glasenberg's fortune surged 68 per cent to $22.4 billion, while Clive Palmer's wealth fell 3 per cent to fifth place. The AFR list now counts 178 billionaires, with 17 new entrants in the past year. Their collective wealth grew by $25.67 billion.
Oxfam calculated that this one-year growth could cover grocery bills for three million households for a year, lift one million Australians out of poverty, or pay power bills for every home in the country.
Ms Tierney said: "A fairer approach to taxing extreme wealth would help ensure governments can properly invest in affordable housing, healthcare, climate action and support for communities doing it tough here and abroad."
