7 Gold Coast Secret BILLIONAIRES

WORDS: Corrine Barraclough PHOTOGRAPHY Nathan Van Egmond @unslash.com / Pixabay @pexels.com

Queensland is home to approximately 10 per cent of the country’s billionaires – who knew? Clive Palmer is probably our state’s loudest and best-known billionaire ($2 billion), although Gina Rinehart’s bank balance massively trumps him ($30.6 billion). What about the others? Who are they and where are they hiding?

Bianca Rinehart:

What’s she worth? Bianca is sitting pretty on $12.5 billion, which places her at no.4 on Forbes Australia’s 50 richest 2023 list.

Who is she? Gina Rinehart’s four children are all equal beneficiaries of the Hope Margaret Hancock Trust, which owns 23.45 per cent of Hancock Prospecting. Bianca, 46, is the trustee of this account. In 2014, she and brother John launched a legal battle against their mother alleging that she had stripped valuable assets from the trust.

Gordon Fu:

What’s he worth? $1 billion.  

Who is he? Gordon is the Taiwanese businessman behind Australia’s biggest shopping centre family. He’s the son of a street vendor. Yes, he owns Australia Fair (he purchased it for $162 million in 2001), yes, he also owns Brisbane and Logan Coast shopping centres. Yu Feng, is the family company of the Australian-Taiwanese investor who famously bought Sunnybank for $13 million back in 1993. In total, he owns 12 southeast Queensland shopping centres, worth more than $300 million. Only Westfield owns more shopping centres. His son Michael recently made headlines for listing an expansive Brisbane mega mansion which smashed $24 million.

Christopher Shao:

What’s he worth? It’s a mystery!

Who is he? He’s the young entrepreneur who grabbed headlines when he rocked up to buy a Gold Coast mega mansion in Burleigh Waters in his Maserati. Remember the story about a mystery phone bidder who made a shock appearance at RUIN X on the GC, midway through the auction? He splits his time between the GC and Melbourne. It’s understood he sold a penthouse in Melbourne in 2021 for $15 million.

Bob Ell:

What’s he worth? Forbes estimates his real-time net worth to be $2 billion.

Who is he? The founder and executive chairman of Leda Holdings, which owns three shopping malls in Queensland, plus a fourth in Canberra. He also has large-scale residential land developments in Queensland. He’s married, has 5 children and lives in Surfers.

Chris Wallin:

What’s he worth? Estimated real-time net worth is $1.6 billion.

Who is he? Chris was the Queensland government’s chief coal geologist before starting his own company QCoal in 1989. He was a billionaire in 2011 and 2012 before plunging coal prices made a dent in his bank balance but he rejoined the billionaire ranks after QCoal posted a five-fold increase in net profit in 2022 and paid him a reported $300 million in dividends. He’s 70, a father of two and it’s reported he’s lived in the same house in The Gap, Brisbane for 30 years.

Bruce Mathieson:

What’s he worth? Estimated real-time net worth is $1.2 billion.

Who is he? He operates his poker machine and pub empire Australian Liquor and Hospitality in a joint venture with Woolworths. He’s 79, loves racehorses, is married with 3 children and lives on the GC.

John Van Lieshout:

What’s he worth? Estimated real-time net worth is $1.2 billion.

Who is he? John founded and made his fortune from the Super A-Mart furniture chain. He sold it in 2006 but retained the freehold to some stores. His massive wealth is now propped by a large property portfolio that includes shopping malls and offices. He arrived in Australia in 1060 with his parents and 12 siblings. He’s married, with 3 children and lives in Brisbane.