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Australia's billionaire boom branded 'morally wrong' by Oxfam
Financial Standard
|June 16, 2025
The ranks of Australian billionaires have more than doubled over the past decade, accumulating wealth at $137 million per day on average - $95,000 per minute, according to Oxfam Australia. Its acting chief executive Christina Muli described this as "morally wrong.
The number of Australian billionaires has risen from 74 in 2015 to 161 in 2025, according to the anti-poverty organisation's analysis of the Australian Financial Review Rich List.
Its analysis exposed that the total wealth of Australia’s 200 richest people has grown by 160% to $667.8 billion over the past decade. Property is the primary engine of their riches, followed by retail, investments, and mining/resources.
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