Analysis shows local billionaire wealth rose by 8% last year, meaning tycoons such as Gina Rinehart make 1,300 times more than average person’s pay
- Wealth of world’s billionaires grew by $2tn in 2024, report finds
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Australia’s 47 billionaires take home an average of A$67,000 an hour, over 1,300 times more than the average Australian, new Oxfam analysis reveals, as the anti-poverty organisation calls for the major parties to tax the fortunes of the super-rich to tackle inequality.
Using data from Forbes’ real-time billionaires list – which categorises billionaires in US dollars – to identify Australian billionaires, the report Takers Not Makers calculated that in 2024 Australian billionaire wealth rose by more than 8% or A$28bn, at a staggering rate of A$3.2m an hour.
