The collective wealth of the top 100 richest people in Western Australia amounts to $160 billion – with 19 billionaires – according to data Business News used to assemble the 2025 Rich 100, which was launched last night.
Led by two women – Gina Rinehart and Nicola Forrest – the Rich 100 are collectively worth 10 per cent more than the 2024 list members, who held $145 billion between them.
Mrs Rinehart, also Australia’s wealthiest person, retains her position at the top of the list.
At more than $40 billion, Mrs Rinehart’s assets represented one quarter of the cumulative total of the Rich 100, albeit her fortune declined from $45 billion last year as the price of iron ore receded.
Mrs Forrest retains second place at $17 billion, about $1 billion ahead of her husband Andrew Forrest, from whom she separated more than two years ago.
The descendants of Peter Wright saw their collective wealth rise about $10 billion after Mitsui & Co acquired a 40 per cent stake in the Rhodes Ridge iron project, crystallising the value for various billionaire family members – Angela Bennett, Leonie Baldock and Alexandra Burt.
WA's top 10 richest people:
The 2025 Rich 100 lists 19 billionaires, up from 16 last year, with the inclusion of Malcolm Steinberg and the Wen, Rae and Rhodes families somewhat offset by the exit of the Buckeridge fortune, which has been split up among key individuals.
Sam Buckeridge and Julian Ambrose are now listed separately further down the Rich 100.
Property developer Julian Walter occupies the 100th position on the list, with $215 million. That is up $90 million from the fortune held by the person in 100th position in 2024, which was David Riches at $125 million.
The youngest member of the Rich 100, Mr Riches was this year ranked 43rd and worth an estimated $465 million on the back of a strong share price rise for GenusPlus Group, the mining services firm he founded.
The 2025 Rich 100 contains 14 names that were not on the list in 2024.
One of the most notable among those new faces is Chemist Warehouse executive Sunny Narula, who is ranked 44th and worth an estimated $500 million after the retailer and pharmacy group became part of listed Sigma Healthcare.
The full Rich 100 ranking will be unveiled on Monday.
