REVEALED: COVID punts Qlders off national rich list

 

Several high-profile Queenslanders have been punted off the nation's rich list for the first time in decades as COVID-19 decimates businesses.

Flight Centre founders Graham Turner and Geoff Harris, and Corporate Travel Management's Jamie Pherous are missing from the Australian Financial Review's 2020 Rich List after the pandemic pushed the business to a stand still.

Last year Mr Turner was ranked 109 with a fortune of $852m while Jamie Pherous was ranked 160 with a fortune of $623m.

Their absence from the list has opened the door for new Queenslanders to join the nation's wealthiest 200 people.

Cathie Reid and Stuart Giles have built up a sizeable fortune in the pharmacy industry.

They are now among the richest people in the country, with a fortune of $550m, according to the Australian Financial Review's 2020 Rich List, which ranked them at 195 in its list of the 200 wealthiest people and families in the country.

 

Flight Centre managing director Graham Turner has been punted off the rich list. Photographer: Liam Kidston.
Flight Centre managing director Graham Turner has been punted off the rich list. Photographer: Liam Kidston.

The Brisbane couple sold their Epic brand last year and have offloaded most of their stake in the Icon Cancer Centre private hospital chain.

Also making their Rich List debut this year with an estimated fortune of $580m are Jiwan and Suman Mohan, the founders of Brisbane-based commodities trading company JK International.

Serial tech entrepreneur, Brisbane-based Bevan Slattery, the founder of Megaport, has also made the cut.

His fortune is worth an estimated $564m.

Mining heavyweight and politician Clive Palmer is the wealthiest person in Queensland, and the 8th richest in the country, according to the Rich List, with a fortune of $9.18bn, a spike of almost 125 per cent on last year due to ballooning iron ore royalties.

Brothers Peter, Andrew and Lex Greensill from Bundaberg, are the next wealthiest in the state, worth $2.13bn, up 76.2 per cent from $1.21bn last year.

 

Clive Palmer is Queensland’s richest person. Pictured on the hustings in the marginal electorate of Pumicestone during the Queensland state election. Pic: Lyndon Mechielsen
Clive Palmer is Queensland’s richest person. Pictured on the hustings in the marginal electorate of Pumicestone during the Queensland state election. Pic: Lyndon Mechielsen

 

The Greensills are a farming family but London-based Lex is a major player in global supply chain finance through his business Greensill Capital.

Toowoomba's Wagner family have lost a little bit of their wealth over the past year but are still worth $1bn, down from $1.1bn a year ago.

Brisbane builder Scott Hutchinson and family have scrapped into the Rich List rankings at 199.

The Hutchinsons are worth $545m, which is down a sizeable 30.2 per cent from last year's $781m, due largely to the COVID-19 pandemic's impact on the construction industry.

Gina Rinehart and Andrew 'Twiggy' Forrest were the nation's first and second wealthiest people - thanks to booming iron ore prices - while manufacturing magnate Anthony Pratt finished third.

 

Queenslanders in the AFR's Rich List

Clive Palmer

Resources: Owner of Mineralogy

Rank 8

$9.18bn (+124.6% from $4.09bn)

 

Peter, Andrew and Lex Greensill

Finance and agriculture: owners of Greensill Capital and Greensill Farming Group

Rank 38

$2.13bn (+76.2% from $1.21bn)

 

Bianca Rinehart

Resources: Director of Restore Hope Australia

Rank 39

$2.05bn (-43% from $3.61bn)

 

John Van Lieshout

Retail: Founder of Super Amart

Rank 45

$2.04bn (-18.7% from $2.51bn)

 

Bob Ell

Property: Founder of Leda Holdings

Rank 47

$198bn (+7.6% from $1.84bn)

 

Bruce Mathieson

Investment: Co-founder ALH Group

Rank 63

$1.54bn (+3.3% from $1.32bn)

 

Chris Wallin

Mining: QCoal founder

Rank 70

$1.43bn (-23.9% from $1.88bn)

 

Mana Sinnathamby

Property: Springfield City Group chairman

Rank 76

$1.35bn (+6.5% from $1.27bn)

 

John Richards and Family

Waste manager: Owner of JJ Richards

Rank 86

$1.19bn (+63.9% from $729m)

 

Reg & Hazel Rowe

Retail: founders of Supercheap Auto

Rank 88

$1.17bn (+6.7% from $1.1bn)

 

Sam Chong

Resources: Founder of Jellinbah Group

Rank 91

$1.12bn (-9.7% from $1.24bn)

 

Trevor Lee

Agriculture: Founder of Lee Group/Australian Country Choice

Rank 100

$1.02bn (+45.4% from $7.05bn)

 

Denis Wagner and family

Construction: Wagners

Rank 102 $1bn (-8.7% from $1.1bn)

 

Gordon Fu and family

Property: Founder of YFG Shopping Centres

Rank 106

$992m (-4.06% from $1.04bn)

 

Trevor St Baker

Energy: Vales Point power station owner

Rank 149

$699m (+8% from $647m)

 

Peter Hughes and family

Agriculture: Hughes Pastoral Group owner

Rank 151

$694m (+37.2% from $506m)

 

Kevin Seymour

Property: Founder of Seymour Group

Rank 163

$662m (-13.8% from $768m)

 

T erry Peabody

Investment: Founder of Transpacific

Rank 167

$644m (-1.7% from $655m)

 

Don McDonald & family

Agriculture: MDH Pty Ltd owner

Rank 169

$639m (returning to the list)

 

Jiwan & Suman Mohan

Agriculture: Founders of JK International

Rank 186

$580m (debut)

 

Bevan Slattery

Technology: Founder of Megaport

Rank 190

$564m (debut)

 

Cathie Reid and Stuart Giles

Healthcare: Founders of Epic Pharmacy Group and Icon Cancer Centres

Rank 195

$550m (debut)

 

Scott Hutchinson and family

Construction: Chairman of Hutchinson Builders

Rank 199

$545m (-30.2% from $781m)

 

 

 

Originally published as REVEALED: COVID punts Qlders off national rich list


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