More than a quarter of the nation’s richest people make their money in property. Source: Supplied

More than a quarter (53) of the country’s 200 richest people make most of their money in the property sector, and many who have made money in other industries have poured the proceeds into property development or management businesses.

At the same time, two high-profile mining magnates saw big falls in their wealth this year.

While Gina Rinehart remains Australia’s richest woman, the tumbling iron ore price and price earnings ratios of key competitors wiped nearly $6 billion off her fortune.

Ms Rinehart’s wealth fell by $5.99 billion to a measly $14.02 billion — enough to keep her firmly at the top of the list of richest Australians for the fifth year in a row.

To put her wealth into context, the amount of money she lost this year alone would be enough to put someone in the top 10 richest people.

The drop may be short-term, however, as her Roy Hill project in Western Australia is expected to start shipping iron ore later this year.

Fortescue Metals Group’s Andrew Forrest also saw his wealth drop to $2.83 billion from $5.86 billion a year ago after shares in his iron ore miner fell, putting him ninth on the list.

Meanwhile, Sydney apartment developer Harry Triguboff saw the biggest rise in wealth as property prices surge in the nation’s biggest city. His fortune increased by a whopping $4.73 billion to a total of $10.23 billion.

BRW Rich List editor John Stehnsholt said all eyes would be on the property sector in the coming 12 months. “[Property and mining], yes that pretty much encapsulates it to be honest,” he said.

“I was a bit surprised that everyone kept going up, but the stockmarket had a very strong first quarter of the year, particularly property.”

He pointed to former Toll Holdings boss Paul Little, who made his money in transport and logistics but then poured that money into the property business.

“It just goes to show how attractive it is as an investment. The Australian property boom doesn’t show many signs of abating. [If it does] there would certainly be a big shake-up, no doubt about that.”

Mr Triguboff came in third place behind Anthony Pratt and family, whose US-based business, Pratt Industries, is the biggest Australian-owned employer in the US. The Pratts enjoyed a $3.02 billion rise in wealth to $10.76 billion.

The Pratts and Mr Triguboff each broke through the $10 billion mark for the first time.

Retail mogul Frank Lowy took out fourth place with $7.84 billion. That was helped along by a $700 million rise after the restructure of Westfield was backed by the sharemarket in the past year.

Hong Kong-based Australian billionaire Hui Wing Mau, whose Shimao Property Holdings has extensive projects in China and also holds Sydney CBD office property, rounded out the top five with $6.89 billion.

The total wealth of the BRW Rich 200 list is up $16.81 billion to $193.61 billion, with a record 49 billionaires. Some who dropped off the list from last year did so because they were unable to reach the $286 million cut-off, which was $36 million higher than last year.

Among the new billionaires are 35-year-olds Mike Cannon-Brookes and Scott Farquhar, founders of software company Atlassian. They are worth a combined $2.27 billion.

The highest-ranked new entrants are Leonie Baldock and Alexandra Burt (#22 and #23), who have a combined wealth of $1.7 billion. Baldock and Burt are the daughters of the late Michael Wright, the son of prospector Peter — one-time business partner of Lang Hancock, Gina Rinehart’s father.

Another notable debutant is Tony Denny in 179th place, who debuts with $320 million. Denny left Australia after the 1987 stockmarket crash and has made his fortune selling used cars in central Europe with his AAA Autos business.

Casino mogul James Packer saw his wealth decline due to a drop in share price for his Crown Resorts casino and entertainment group. He came in seventh place with $6.08 billion, down from $7.19 billion a year ago.

There were 19 new names on the list this year and 10 new billionaires. The number of women among the 200 was 17, up from 14 last year, and there were just five female billionaires.

OVERALL TOP 5

1. Gina Rinehart — $14.02 billion (resources)

2. Anthony Pratt and family — $10.76 billion (manufacturing, investment)

3. Harry Triguboff — $10.23 billion (property)

4. Frank Lowy — $7.84 billion (property, investment)

5. Hui Wing Mau — $6.89 billion (Property)

TOP 5 WOMEN

1. Gina Rinehart — $14.02 billion

2. Vicky Teoh — $2.31 billion*

3. Leonie Baldock, Alexandra Burt — $1.7 billion

4. Angela Bennett — $1.54 billion

TOP 5 MEN

1. Anthony Pratt and family — $14.76 billion

2. Harry Triguboff — $10.22 billion

3. Frank Lowy — $7.87 billion

4. Hui Wing Mau — $6.89 billion

5. Ivan Glasenberg — $6.14 billion

NSW TOP 5

1. Harry Triguboff — $10.22 billion

2. Frank Lowy — $7.87 billion

3. James Packer — $6.08 billion

4. Lang Walker — $2.46 billion

5. David and Vicky Teoh — $2.30 billion

OVERSEAS TOP 5

1. Hui Wing Mau — $6.89 billion (Hong Kong)

2. Ivan Glasenberg — $6.14 billion (Switzerland)

3. Michael Hintze — $1.75 billion (London)

4. Huang Bingwen and family — $1.50 billion (China)

5. Ye Lipei — $1.26 billion (China)

TOP 5 MEDIA MOGULS

1. Kerry Stokes (#16) – $2.11 billion (media, mining services, investment)

2. Bruce Gordon (#45) – $1.06 billion (media, investment)

3. Reg Grundy (#59) – $809 million (media, investment)

4. John Singleton (#142) – $401 million (media, property)

5. Harold Mitchell (#161) – $362 million (media, rural)

MEMBERS BY STATE

Victoria — 63

NSW — 61

Queensland — 26

Western Australia — 21

Overseas — 21

South Australia — 5

Tasmania — 2

Australian Capital Territory — 1

TOP 5 INDUSTRIES

Property — 53

Retail — 26

Financial services — 18

Resources — 18

Rural — 12

Technology — 12

Source: BRW