Richest in the state lost $ 1.5 billion

Richest in the state lost $ 1.5 billion

richest people in the state are feeling the impact of the softening real estate market and the negative global economy.

And with a high impact on the Australian market, some of the richest feel the pain of negative sentiment in the market According to AMP chief economist Shane Oliver.

“It is a reflection of the public,” Dr Oliver said. “Most Australians have seen their money go down in the past few years.” Richest businessmen

WA and women lost an average 8.84 percent of their wealth in the past 12 months, depending on the BRW Rich 200 list this week.

It showed the 27 richest men in the combined wealth of $ 23.6 billion, but 19 of them lost part of their fate.

This is, of course, is richer woman in the world and the richest person Gina Rinehart Australia, a 183 percent growth in money received to $ 29.17 billion, according to the BRW Rich 200 list.

Includes iron ore miner and the state’s richest wealth increased by $ 17400000000 $ 52800000000 in, but when she is excluded, a total of $ 1480000000 lost.

Commerce and Industry WA chief economist John Nicolao said because the majority of the wealthiest people the state was linked to the resources sector, the wealth of their rise and fall of commodity prices.

“This is a pretty good game due to the long term is certainly positive because demand is generated for our main products abroad,” he said.

Both economists said a high impact on the housing market would also work against the richest of stagnating prices of Perth.

“What we have seen in Western Australia is more orderly deflation A (active) call and certainly brought many riches you just have not seen the growth that many had hoped,” Mr Nicolao said.

Some of the largest state-owned players such as Stan Perron, had ridden out the storm by having most of their investments in commercial and retail markets, he said. Mr. Perron rose 9.04 percent to 2.05 billion U.S. dollars.

Together with Ms Rinehart, resources investor Frank Timis, the wealth g rew 22 percent to $ 1.33 billion, was the only Western Australian in the list to experience double-digit growth for 12 months.

The biggest loser was the businessman Peter Bartlett, established mining services provider Barminco in 1989.

Mr. Bartlett only a scrape on the list, at number 198, after his wealth dropped from $ 369 million to $ 210 million in 2012.