If you are still looking for proof that property investment is the key to building wealth, check out the Australian Financial Review’s 2017 Rich List.
Not surprisingly, the Rich List is currently dominated by property moguls. Five of the ten people who have been included are stemming from the property sector.
If you’re looking to see why property is the best vehicle to generate wealth and want to be inspired by what’s possible, then you’ll love this infographic.
It reveals how dominant property is, and who are the big 5 billionaire property investors, as well as other industries from the 2017 Rich List:
Numbers don’t lie.
A huge chunk of Australians who reached the upper echelons of financial success are in the property industry. Though some of the them are also involved in other industries, property investments are what helped them build their fortune and reach the top.
Property is the highest-earning sector in this year’s list. 58 out of the 200 people on the list are from the property industry. Property investors, managers and developers are included on the rankings.
Some property investors on the list have been there for decades, which proves that property is a stable and consistent investment.
As you probably know by now, investments that promise quick and easy money rarely bring in profits. If you want long-term wealth and consistent growth of your money, property investment is the way to go.
While some people on the list may have inherited money, most of them started out with a small property investment that they were able to grow through brilliant strategies. Some of them started from scratch after losing everything. Property investment takes time and patience, but those who are willing to take the leap will be greatly rewarded.
There is nothing more inspiring that reading the stories of people who made it happen. Below we list down the top 5 property magnates on the list:
Top 5 Property Moguls On The Rich List
No. 2: Harry Triguboff, $11.45 billion
Managing director, Meriton
Also known as “High-Rise Harry,” Triguboff has overseen construction of over 75,000 residential properties since the early 1960’s. He was only 30 years old when he founded Meriton, now considered as Australia’s largest apartment developer. His company is responsible for some of the tallest towers in Sydney, Brisbane and the Gold Coast. Prior to joining the property industry, he owned a taxi fleet and a milk run. Triguboff has been consistently on the Rich List since 1983.
No 4: Frank Lowy, $8.26 billion
Lowy is the chairman of the Westfield Corporation, which owns shopping centres in different parts of the world. Lowy built his first mall in western Sydney in 1959 and from there, he continued expanding his wealth. In June 2017, he was knighted in the U.K. for his contributions to the U.K. economy. He also ranked fourth on the 2016 Rich List.
John Gandel, $6.10 billion
Principal, Gandel Group
Gandel took control of his parents’ thriving clothing business in the 1950’s. Along with his brother-in-law, he expanded the business and eventually sold it in 1983. He used the money to purchase Chadstone Shopping Center for $37 million. Since then, he has focused on real estate. Chadstone Shopping Centre in Melbourne is currently the largest in the southern hemisphere.
Hui Wing Mau, $6.00 billion
Chairman, Shimao Property
Chinese-Australian billionaire and real estate developer Hui Wing Mau is the co-founder and chairman of Shimao Property Holdings. Shimao is a developer of luxury homes, hotels, and offices in mainland China. He currently controls two publicly- listed companies: Shimao Property Holdings and Shanghai Shimao.
Stan Perron, $3.9 billion
Co-founder and chairman, the Perron Group
Perron’s diverse property portfolio consists of shopping centres, office buildings and commercial properties across Australia. Even up to now, the self-made businessman still very active in managing his businesses. He also has a thriving automotive business with a rare arrangement with Toyota of Japan. Perron is the oldest billionaire included on the list.
The Top 5 Industries In The Rich List
With the strong demand for Australian property, it remains to be the strongest asset class to create and secure for long-term wealth. Residential and commercial property owners get opportunities to earn from capital appreciation, rental income and more.
While property remains the top pick, other industries were also included on the Rich List. Property is followed by investment (21), resources (18), retail (18) and financial services (16). There were also professionals from agriculture, manufacturing, technology, media, healthcare, entertainment, travel, transport, telecommunications and education.