The Australian Financial Review released their top 200 richest Australians list this past week. Cumulatively, the top 200 are worth $341.8 billion, with the average wealth per individual on the top 200 being $1.7 billion; and to make this list the cut off in wealth is $472 million.
How do these wealth creators make their riches? Property is the major wealth generator in this list, primarily through development and retail ownership. Following property, resources, retail, and technology are the next highest earning sectors.
Melbourne and Sydney tie with the highest number of the top 200 richest Australians as residents, followed by South East Queensland, and Perth. Listen in for more on our discussion on the Top 200 Richest Australians now.
This Week’s Investor Exchange Round Table Covered:
- Is Donald Trump a liability of benefit to the stock market? He seems to start trade wars and then passes tax cuts. Listen in for Joel’s take on what’s happened in the last five weeks since the stock market started to correct itself. (13:27)
- The perfect storm is gathering with the interest rate cuts likely to happen, and the Royal Commission behind us, the expectation is the property market will bottom out in the short term. Brett discusses his data to help predict the bottom. (24:05)
- Louis gives his insights on bringing forward expenses you will pay monthly into this financial year to claim as a tax deduction, to maximise your EOFY tax return. Listen in for his thoughts on using this strategy on income protection insurance. (35:12)
You Cannot Be Serious:
How annoying is it when someone steals your designated parking space? Well, one Seattle man has taken action against a car share vehicle that was parked without permission at his duplex by building a fence around it and holding it for ransom!
There’s a piece of legislation in Australia that enables parliamentarians to give free pieces of ‘Australiana’ to constituents. This information went viral, and a few trolls used it to flood requests to politicians for painted portraits of Queen Elizabeth. One politician quipped that he sent a picture of Beyonce instead!
An antique restorer was hired to work on a rare synthesizer produced in 1963. Working on one of the many knobs, he found a crystalline deposit, which he cleaned off with his hands. Shortly after he felt a tingling in his fingers, that later turned into a 9-hour acid trip! After testing, it was verified the crystalline deposit was LSD.
Write in to get your investment and wealth management questions answered by Joel, Brett and Louis.
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