Mining boom wind downs and a strong real estate market have attributed to retailers forging ahead in the BRW Rich 200 list, a list of Australia’s two hundred wealthiest individuals and families ranked by personal wealth.
Released by The Australian Financial Review, this list provides an insight into the activities of the individual or family and how their rankings have changed from the previous year. After five consecutive years at the top, Gina Rinehart has been knocked from first to fourth position, beaten out by Frank Lowy, Chairman at Westfield at number three, signalling that retail is on the rise.
Read more about what this means for retail as a whole here.
View the full list here.