Throughout history & especially in the past decade the super rich have only gotten richer. Is this due to shrewd businesses tactics or an uneven playing field? When you get to know Australia’s top wealthy families you see that it might be a little bit of both.
Even though it is easy to point the finger and blame them for promoting social inequality; there is no denying their dedicated work ethic infused with wise business in devours. This played a crucial role in their rise to power. From wise mineral investments to promoting the recent housing boom; these families have artfully manoeuvred their investments with the grace of a ballerina on steroids. So instead of being jealous of them, we should take an educated look at how they accrued their riches. This list artfully compiles Australia’s top 3 most affluent families; & showcases how they reached the elite level that they are at now.
Australia’s 3 Richest Families
Family #3: Buckeridge Family
The Buckeridge Family easily made the list with their $2.5 billion fortune. Based in Perth this family made their fortune by following the vision of business tycoon Leonard Buckeridge. His motto “Building Success” is infused into the business module of the legendary corporate group Buckeridge Group of Companies. This mantra embodies the can-do attitude that got the family to the point they are today. The Buckeridge Group of Companies incorporates a whole slew of companies dedicated primarily to construction. This impressive array of companies all works together as one to cover all aspects of construction so the money stays within the major company. Their impressive operating income currently runs on AUD 163,218,319,402.
Family #2: Wilson Family
If you have ever gone to the bathroom in Australia you have to give credit to one family. The Wilson Family has been rewarded for their creation of Reece Plumbing Supplies with an impressive $2.6 billion. Reece founder Harold Joseph Reece started the company out of the back of his truck in 1919. The combination of his humble beginnings and hunger for success drove him to transform his business into a genuine powerhouse. Today the company has grown from the back of his truck to Australia’s most successful plumbing company with 450 stores across the country. Today they employ over 3500 staff and offer thousands of products used throughout bathrooms across Australia.
Family #1: Smorgon Family
This innovative family dominates Australia with a whopping $2.7 billion fortune. The family is a true rag to riches story, started by a trio of brothers who immigrated to Australia from Russia in 1927. First, they started a butcher shop, and then quickly diversified their business prowess by gradually branching out into a slew of new businesses. If you could imagine it, they became involved in it. Food processing, recycling of paper & metal, along with production metal got them to where they are today. Along with being part of an empire, Graham & David Smorgon are also the presidents of teams in the AFL.
This goes to show that while these companies do have a huge advantage, there can always be a new competitor. You do not have to come from a billion-dollar family to make it rich, you just need a bulletproof mindset for success. Being in the right place at the right time means nothing if you don’t have the resolve to see your business through. One thing that unites all of these families is that they hit the ground running and invested in tried and true commodities. So take what you can from this and learn from the successful so that you too can rise and create your empire.