Wealth of Australia's Billionaires Rises
(MENAFN) Over the last decade, the wealth of Australia’s billionaires has expanded dramatically, with their fortunes increasing by an average of over AUD137 million (approximately USD88 million) per day.
This rapid financial ascent comes at a time when countless Australians are grappling with escalating living expenses, according to a fresh evaluation by Oxfam Australia.
The report, which was released on Tuesday, draws from data in the Australian Financial Review Rich List.
It highlights a significant jump in the number of billionaires in the country, growing from 74 in 2015 to 161 in 2025—more than doubling in ten years.
During the same period, the collective wealth of these billionaires soared by 160 percent, reaching a total of AUD667.8 billion (about USD431 billion).
To put this into perspective, it amounts to roughly AUD95,000 (or USD61,344) added to their combined wealth every single minute.
Oxfam pointed out that real estate remains the dominant source of fortune for Australia’s wealthiest citizens, followed closely by sectors like retail, financial investments, and mining.
"Over the last 10 years, property has been the most frequent source of wealth accumulation for Australia’s richest, followed by retail, investments and mining/resources," the organization stated.
This analysis underscores the deepening economic disparity within Australia.
While the affluent continue to accumulate wealth at a rapid pace, everyday Australians are caught in a worsening housing crisis and facing relentless financial strain due to the rising cost of living.
Chrisanta Muli, acting chief executive of Oxfam Australia, condemned the widening wealth gap, saying, “This level of inequality is not just morally wrong – it’s economically and socially dangerous. While millions of Australians are struggling to make ends meet, the country’s richest continue to amass eye-watering fortunes, often without lifting a finger.”
The report calls attention to the urgent need for policies that address the growing economic imbalance and prioritize the needs of the broader population.
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