RICH PICKINGS:Quarter time

While the majority of Australian investors have taken a hammering over the past year, the first three months of 2009 wasn't that bad for a group of Australia's richest investors.

Australia’s 20 richest investors – a list that includes James Packer, Frank Lowy, Kerry Stokes and Gerry Harvey – have started the year on a positive note, finally beating the market after taking a hammering for most of 2008.

While the All Ordinaries lost just under 4 per cent in the three months to March 31, these rich investors were able to limit their losses to just under 2 per cent. The total wealth held by these investors fell to $14.8 billion from $15.1 billion, although it is worth noting that their total publically listed wealth has dropped from $28.4 billion at the end of the first quarter of 2008.

A number of entrepreneurs actually managed to increase the value of their holdings, with James Packer’s investments up $98 million to $2.4 billion, and Andrew Forrest’s stake in Fortescue Metals climbing by around $624 million to $2.5 billion.

The biggest loser was Frank Lowy, whose stake in shopping centre empire Westfield fell $529 million to $1.8 billion. Another prominent loser was John B Fairfax, who saw the value of his stake in Fairfax Media drop $134 million to $218 million; it was worth $751 million at this time last year.

With a quarter of the year gone, it's time to take a look at the list of the 10 richest people in Australia. As you can see, the names have stayed the same, but the valuations are quite different.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter your SMS code' }}

A text message with your verification code was just sent to {{user.DayPhone}}

We cannot send you a code via SMS to {{user.DayPhone}}

Hi {{ user.FirstName }}, please provide your mobile number.

{{ content.trialHeading.replace('{0}', user.FirstName) }}

We'll send you a text message with a verification code to start your free trial.

Log in

{{ content.upgradeHeading.replace('{0}', user.FirstName) }}

The email address you entered is registered with InvestSMART.

Login or to reset your password, select Forgotten password

Email is required.
Email must be a valid email.
Password is required.
First name is required.
Last name is required.
Mobile phone number is required.
Mobile phone number is invalid.
You must accept the terms and conditions.

Already an InvestSMART member? Log in

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

OR

Looks you are already a member. Please enter your password to proceed

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.

Please untick this box when using a public or shared device

Not a member? Sign up

Forgotten password? Click here

Your membership to InvestSMART Group recently failed to renew.


Please make sure your payment details are up to date to continue your membership.


Having trouble renewing?

Please contact Member Services on support@investsmart.com.au or 1300 880 160

You've recently updated your payment details.

It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.


If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.


Still having trouble viewing content?

Please contact Member Services on support@investsmart.com.au or 1300 880 160

{{ upgradeCTAText }}

Updating information

Please wait ...

Trial

{{ productPrice }} / day
( GST included )
Price $0
Discount -{{productDiscount}}
GST {{productGST}}
TOTAL   (inc. GST) {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.

Please untick this box when using a public or shared device

Not a member? Sign up

Forgotten password? Click here

Related Articles