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Rich List 2020

Out Now: The definitive list of Australia’s wealthiest people, now in its 38th year.

See our latest coverage

Donald Trump and Joe Biden are making their final dash around the country to find every last vote.

America is holding its breath

Voters' heads are filled with dark portents about what the other side will do if they don’t wake up next Wednesday to the country they thought they were living in.

RBA's rate cut to 'hurt recovery', savers

Former Reserve Bank board member Warwick McKibbin, along with fund managers and bankers, is suggesting that rate cuts and QE could undermine the economy now.

Allan Gray's Simon Mawhinney would be "astonished" if Ares kept AMP intact.

AMP investors still bullish on break-up despite offer

AMP's confirmation of the offer sent its languishing share price soaring, but shareholders maintain the company won't survive in its current form.

Biden ups his pace, holds battleground polling lead

Fresh polls show Joe Biden maintaining his narrow advantage over President Trump in Pennsylvania and Florida.

Dividend pickings set to get richer

Economic growth will revive blue chip payouts payouts as companies with good prospects for a rebound get back to work.

'Pile on': Business, political leaders defend Australia Post boss

The boss of Australian Super and a former foreign minister are among those who have praised Christine Holgate's leadership and integrity.

Boe back in the box seat at AMP

It's clear AMP's senior executives hold all the trump cards in negotiations with potential acquirers of the embattled wealth giant.

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RICH LIST

Anastasia and Ruslan Kogan at the Athenaeum Theatre in Melbourne.

Ruslan and Anastasia Kogan: The making of a power couple

Newly married and newly minted, Ruslan and Anastasia Kogan are breaking new digital ground in business, technology and the arts.

Rich List 2020 in pictures

Financial Review photographers Louie Douvis and Dom Lorrimer worked their magic on the 2020 Rich listers. Here's a gallery of their work.

Top 10 most wealthy: Gina Rinehart, Andrew Forrest, Anthony Pratt & family, Hui Wing Mau, Mike Cannon-Brookes, Scott Farquhar, Harry Triguboff, Clive Palmer, Frank Lowy, Kerry Stokes.

The full list: Australia's wealthiest 200 revealed

The Financial Review Rich List for 2020 proves it was a good year to own an iron ore mine. An office tower? Not so much.

Watch: Who made the cut and who didn't?

The AFR Rich List editors discuss this year's list – who made the cut and who didn't, and why.

Australia's cattle kings and queens on top of the world

Cattle prices are at record highs, adding to the fortunes of the Rich Listers who control vast tracts of land in rural Australia.

Companies

Ares Capital Management local chairman John Knox wants the opportunity to grow a business.

Ares' AMP move was months in the making

Ares has been watching AMP as a possible deal - designed to build on its push into Asia Pacific - since earlier this year.

Transclean boss George Haritos appears at the IBAC hearing on Thursday. 

'This is just a cover story': Melbourne mates defy corruption inquiry

Victorian investigators are using taped phones and secret videos to allege corruption, but two men are adamant they were only benefitting from gambling.

Craig Gore in his boom days.

No sanctuary for disgraced developer Craig Gore

From fast cars, helicopters and high-risk developments to a guilty verdict and the prospect of up to 12 years in jail. Where did it all go wrong for the former rich lister?

Banks can't avoid investment to fend off disruption

ANZ's results this week showed record levels of spending on technology. Its CEO says this is necessary to safeguard its future.

Australia's cattle kings and queens on top of the world

Cattle prices are at record highs, adding to the fortunes of the Rich Listers who control vast tracts of land in rural Australia.

Why fake job ads may not matter to Seek

An already divided investment community is digesting Blue Orca's attack on Seek. It's quite possible the Zhaopin business has a fake jobs problem, but the extent to which investors will tolerate that is unclear.

Manager charged with insider trading over Sigma shares sale

ASIC alleges an employee of Sigma Healthcare had inside information when he sold shares before a stock tumble that would have cost him paper losses of more than $290,000.

Markets

Regardless of who wins the US presidential election, investors should look to the longer game.

US election is one for the market history books

US stocks tend to falter around elections, but history suggests investors should look through the volatility.

The RBA has no choice but to enter the cage by enacting easing measures whose primary purpose is to prevent the AUD from appreciating.

The economy needs help. Is QE the right answer?

The Reserve Bank of Australia has a crucial decision to make next week that could mark a historic shift in the way the central bank operates.

Magellan co-founder Hamish Douglass: "I would just say 'everyone stay calm'."

Keep cool amid election turmoil: Hamish Douglass

The outcome of the US election may not be immediately clear, so investors should try and keep a cool head, says billionaire investor Hamish Douglass.

M&A helps ASX to small monthly gain

Australian shares edged higher over the month, as dealmaking helped offset rising COVID-19 infections in the northern hemisphere and amid increasing nervousness around the US election.

ASX suffers worst week since April, gains 1.9pc in October

The Australian sharemarket fell 3.9 per cent over the week on US election uncertainty and concerns about rising COVID-19 cases in Europe and the US.

Opinion

PM shows a Trumpian disregard for transparency

The Morrison government's outrage at the behaviour of big institutions seems to be driven by whose side they are perceived to be on, writes Laura Tingle.

Laura Tingle

Columnist

Laura Tingle

President Biden with a Senate brake is the best outcome

The virus pandemic has probably finished off Donald Trump's flawed presidency. Yet his foes must not see his departure as vindication with no lessons in it for themselves.

The AFR View

Editorial

The AFR View

Boe back in the box seat at AMP

It's clear AMP's senior executives hold all the trump cards in negotiations with potential acquirers of the embattled wealth giant.

Karen Maley

Columnist

Karen Maley

Why ANZ's Elliott is wrong about RBA's QE

Rather than criticising the central bank while borrowing billions from it at near-zero interest rates, fat-cat bankers should focus on how they can help the RBA get workers back into jobs, writes Christopher Joye.

Is the RBA inflating a property price bubble?

A growing gap between residential property prices and rents could mean the RBA's unprecedented rate cuts and expected quantitative easing are laying the groundwork for the next property bubble.

Matthew Cranston

Economics correspondent

Matthew Cranston

CFOs to lead on investment opportunities

The challenge for executives in charge of company finances is to provide the leadership needed to seize the opportunities for investment emerging in the post-COVID world.

The AFR View

Editorial

The AFR View
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Politics

Queensland Premier Annastacia Palaszczuk announcing the border backflip on Friday.

Border hardball expected to pay off for Palaszczuk

Queensland Premier Annastacia Palaszczuk has abandoned her plans to open up to all of NSW on November 1.

Treasurer Josh Frydenberg wants annual general meetings to be made available online and physically.

Treasurer open to hybrid model for virtual AGMs

After strong opposition to making virtual annual meeting permanent, Treasurer Josh Frydenberg says a hybrid model would now be best.

Attorney-General Christian Porter says the review is needed given Australians are spending more time online and more of their personal information is being collected, handled and stored.

Government to consider new privacy rights for citizens

Individuals could be compensated for privacy breaches under a wide-ranging review of privacy announced by federal Attorney-General Christian Porter.

'Pile on': Business, political leaders defend Australia Post boss

The boss of Australian Super and a former foreign minister are among those who have praised Christine Holgate's leadership and integrity.

After years of resisting, RBA is set to join the QE club

The Reserve Bank is looking at unconventional ways of pumping money into the economy but the big concern is whether it will just sit there.

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World

Canberra based American Justin Underwood

Americans abroad sweat the race for the White House

Democrats Abroad organisers in Australia have been distributing corflutes, calling voters and urging American citizens to send in postal votes ahead of next week's presidential election.

Democratic presidential candidate former vice-president Joe Biden in Tampa, Florida.

Biden ups his pace, holds battleground polling lead

Fresh polls show Joe Biden maintaining his narrow advantage over President Trump in Pennsylvania and Florida.

Trump supporter Yuko Matsuoka, of Tokyo, Japan, yells "Four more years," during a gathering of hundreds of Trump supporters at the intersection of State Route 309 and Hildebrant Road in Dallas, Pa., ahead of a visit from Democratic presidential candidate former Vice President Joe Biden to Dallas High School Saturday, Oct. 24, 2020. (Sean McKeag/The

Australia is having trouble with its great and powerful friends

Whoever wins the US election next week, America – ravaged by the pandemic and tiring of its global role – will still be looking inward leaving Australia to fend for itself.

Trumpism has taken over; What is the future of the GOP?

Win or lose next week, the Trump family will continue rallying their white working-class fans around the country for the next four years.

'It's silly season right now': Trump tries economy card play

Donald Trump tried to make the campaign about the economy again and Joe Biden stuck to his script of COVID, COVID, COVID as the rivals took the race to the key state of Florida. The numbers are still with Biden, but no one is writing off Trump with four days to go. See all Thursday's news here.

Property

Elise Boutique owner Thu Nguyen is focused on the future having survived the Sydney COVID-19 lockdown

Sydney's struggling King Street focuses on the future

One of Australia's oldest, longest and busiest commercial strips is looking to the future after it shut down in March, seeing restaurants and retail shops close forever.

Andrew Forrest’s Sydney base.

Australia's richest property tycoons – and where they live

Almost a quarter of Australia's richest 200 people built their fortune through property – and now they live in mansions on large blocks with water views.

Sydney skyline.

Why big cities will survive and thrive after the pandemic

Pandemics always lead to predictions of the demise of cities as urban dwellers and office workers flee but history shows that once people feel safe, they will be back.

Amazon expands in Melbourne at Dexus estate

The Ravenhall facility will increase the proportion of items the e-commerce giant can ship directly to its Victorian customers from Melbourne and enable quicker delivery.

Fife Capital bags $80m bargain on giant Kaufland shed

Fife Capital paid only about half the $160m Kaufland spent on its giant distribution centre, but will see an immediate valuation uplift from the DHL lease.

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Wealth

ASIC is inviting unhappy Dixon clients who may wish to lodge a complaint about the advice they have received to contact its misconduct division.

What do I do about my Dixon investments?

Making a complaint to ASIC or joining a class action are some options, writes John Wasiliev who answers your questions on super.

Passing the buck when there are no bucks to pass

What happens to the finances and maintenance of an apartment block if owners can't afford the levies?

When leaving super to estate is a better fit

If your beneficiaries are adult children and there is no spouse, there are five big tax savings.

Technology

The closed-door meeting known as the Fifth Plenum was presided over by Xi Jinping who has emphasised the need for China to be more self-reliant.

China seeks technology self-reliance in five-year economic plan

China's new five-year plan was heavy on rhetoric and light on detail but it has pledged to become self-reliant on technology in the face of US sanctions.

Disney World in Florida is operating at a 25 per cent attendance cap.

Why Disney's focus on streaming gives it a long growth runway

Managing content creation will put Disney in control of making what consumers want most, delivered in the way they prefer to consume it.

Alphabet's profit was $US11.2 billion, or $US16.40 per share, compared with the average estimate of $US7.698 billion, or $US11.18 per share, among analysts tracked by Refinitiv.

Alphabet sales growth back as Google flooded with advertisers

The third quarter revenue growth reflected a bump in spending across each of Alphabet's key ads businesses, including search, YouTube and partner properties.

Work & Careers

Tasmanian-born Professor Elizabeth Blackburn receives the Nobel Prize in Medicine from King Carl XVI Gustaf of Sweden in 2009.

The stories behind the Nobel women of science

Telling the tales of some of science's most accomplished women was a voyage of discovery for the author of a new book.

BHP chairman's new CEO Academy

Aspiring chief executives and chairmen will be able to learn from Ken MacKenzie under a new venture with Melbourne Business School.

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Life & Luxury

In the past 10 years horses trained by Gai Waterhouse have won $130 million in prize money.

Why Gai Waterhouse doesn't invest in the sharemarket

The champion racehorse trainer has done well from both moving and fixed assets.

Detail from Food Is The Earth And The Sky, 2020, by Li Jin.

China's Li Jin celebrates food, life and sex in new exhibition

The contemporary ink master has made a name for himself with his witty and lush depictions of sensory pleasures.

Anders is one of Aquis Farm's three chances in the Coolmore Stakes at Flemington on Saturday.

Why this race really stops Australian racing

The Coolmore Stud Stakes, raced every year on Derby Day, has become a race that turns young stars into stallions sometimes worth hundreds of millions of dollars.  

Though it's still outlandish, social change means the new Borat film doesn't have quite the same impact as the original did in 2006.

Crude, cringeworthy but compelling: Borat is back

As America's reality TV President turns the nation into a Jerry Springer show, satire hardly seems needed. But somehow, this is the right movie for our times.

VRC chairman Amanda Elliott:  Unbowed despite stand-downs, reductions in working hours and executive pay, and endless uncertainty.

Behind the scenes at the Melbourne Cup

How will the race that stops a nation outrun the coronavirus? We speak to a top trainer, a star jockey and the executive keeping the whole shebang on track.

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