Retailers make a strong showing in this year’s BRW Rich 200 list, taking out 24 places to make it the second most represented industry in the list.
The 2016 BRW Rich 200 list has been revealed, with Aussie retailers commanding a strong presence.
Property remained the dominant sector, with 54 people on the list making most of their money from property. Retail, however, came in second with 24 places, just edging out investment, with 23 spots.
Unsurprisingly, Chair of Premier Investments and former head of Coles Myer, Solomon Lew, was the highest placed retailer on the list. Lew took out number 15 on the list, with a wealth value of $2.13 billion.
Lew and his family also own a range of other fashion brands, distributors and licences, including the Australian licences for FCUK and Nine West.
Earlier this year, Lew was inducted into the World Retail Congress Hall of Fame, becoming the first Australia so honoured.
Co-founder and Chair of Harvey Norman, Gerry Harvey, was the second placed retailer on the list, coming in at number 19, with a wealth value of $1.99 billion.
Jack Cowin, Chair of Competitive Foods Australia (CFA), took out the 24th spot on the list, with a wealth value of $1.81 billion. CFA is the largest franchiser of restaurants in Australia and one of the country’s largest privately held businesses. CFA is the master franchisee for Hungry Jack’s and Burger King restaurants in Australia.
Former 7-Eleven Chair Russell Withers took out 35th place with a wealth value of $1.34 billion. Withers stood down as 7-Eleven chairman in late 2015 after it was revealed that the company had been chronically underpaying international students.
Founder and majority owner of Cotton On, Nigel Austin, was the fifth-placed retailer on the list, with a wealth value of $1.26 billion.
Other prominent retail figures on the list include:
#39 – Manny Stul ($1.24 billion). Chair and Co-CEO, Moose Enterprises.
#40 – Morry and Zac Fried ($1.22 billion), Executive Chairman and Executive Deputy Chairman, respectively, Spotlight Group.
#61 – Reg Rowe ($901 million). Director, Super Retail Group.
#88 – Andrew Muir ($651 million). Chairman, The Good Guys.
#108 – Naomi Milgrom ($582 million). Managing Director, Sussan.
Absent from this year’s list was Ruslan Kogan, founder of Kogan.com, who was unable to reach the $303 million cut-off.
Check out AFR for the full list.