Anthony Pratt, the head of the Pratt family's packaging empire Visy remained atop the Australian Financial Review Rich List for 2019 with some help from a special friend: Donald Trump.
The US president's slashing of the corporate tax rate in the US helped boost the earnings of Visy's extensive US operations and ensured Mr Pratt's wealth increased from $12.9 billion last year to $15.6 billion.
"His slashing of the corporate tax rate and granting of instant write-offs for business investment has bolstered the bottom line of Anthony Pratt," said the Rich List editor Michael Bailey.
It was enough to keep a resurgent Gina Rinehart in second place with rising iron ore prices ensuring she hopped into second place on the rich list, ahead of property mogul Harry Triguboff with a $13.8 billion fortune.
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Mr Triguboff, who headed the Rich List in 2016, fell to third place despite his personal wealth rising $800 million to $13.54 billion.
Australia now has 91 billionaires, up from 76 last year and the cut-off point for making the list rose from $387 million to $427 million.
The collective wealth of Australia's top 200 people and families, grew from $282 billion in 2018 to $330 billion this year with property remaining the top source of wealth despite the housing slump.
Property was the source of wealth of 63 Rich Listers, followed by retail which was the primary source of wealth for another 29 individuals and families.
Tech provided a record 14 rich listers and is now the fastest route to riches.
The biggest leap on the Rich List can be attributed to Australia’s top tech billionaires, the Atlassian founders Scott Farquhar and Mike Cannon-Brookes who are in fifth and sixth place, respectively, with Mr Farquhar slightly ahead with a personal wealth of $9.75 billion and Cannon-Brookes with $9.63 billion.
The Atlassian founders' wealth, which is closely tied to the software company – they collectively own 60 per cent of the company – has nearly doubled since last year and a leap of that magnitude over the next year could see the duo top the Rich List for 2020.
Rupert Murdoch's sale of most of the 21st Century Fox business to Walt Disney this year has seen his children re-emerge on the Rich List.
His eldest daughter Prudence MacLeod was listed with a personal wealth of $3.3 billion, making her Australia's third-richest woman. Son Lachlan Murdoch is 18th on the list with a personal wealth of $3.6 billion.