Australia's billionaires tumble down the rich list

SYDNEY - Almost all of Australia's billionaires have sunk dramatically in the annual Forbes magazine rich list rankings, after the fallout from the global financial crisis took big chunks out of their fortunes.

Ten Australians made the 2009 billionaires list, from a global total of 793, down from 14 in 2008.

The decline in the number of Australians in the list was mirrored in the overall survey, which found the number of billionaires in the world had dropped from 1,125 a year go.

Heading this year's list for the home team is Westfield Group chairman Frank Lowy with a fortune of US$2.7 ($5.40) billion and a ranking of 234, down from US$4.6 billion and the 222nd spot in 2008.

Casinos mogul James Packer followed at 261 with a net worth of US$2.5 billion, down from 173 and wealth of US$5.7 billion.

Fortescue Metals Group Ltd head Andrew Forrest fared the worst overall.

After topping the list of Australian billionaires in 2008, Mr Forrest's ranking plummeted to 376 this year, from 145, as his fortune dropped to US$1.9 billion, from a hefty US$6.5 billion.

He is matched in ranking by mining heiress Gina Rinehart, whose net wealth is now also US$1.9 billion.

But Ms Rinehart was up - a standout for the Australians - from the 503 spot in 2008 when she was worth US$2.4 billion.

Missing from the list this year was Harvey Norman Holdings chair Gerry Harvey, the founder of solar panel cell maker Suntech Power Shi Zhengrong, property investor Stanley Perron and WorleyParsons founder John Grill.

However, Platinum Asset Management founder and head Kerr Neilson remained, with a ranking of 674, down from 605, and a fortune of US$1.1 billion down from US$2 billion.

Other names on this year's list include Visy Industries founder Richard Pratt, Meriton chief Harry Triguboff, Seven Network chair Kerry Stokes, property and shopping investor John Gandel and trucking boss Lindsay Fox.

The overall billionaires list was headed, in order, by Microsoft founder Bill Gates with US$40 billion, Berkshire Hathaway head Warren Buffett with US$37 billion and Mexican telecoms boss Carlos Slim Helu on US$35 billion.

Ex-Australian citizen and global media magnate Rupert Murdoch took the 132nd spot with a fortune of US$4 billion.

- AAP