Australia's Richest Women Reach Record $179 Billion

Australia’s 75 richest women have seen their combined wealth soar by 19% over the past year, hitting an all-time high of $179 billion. This growth has been fuelled by a tech resurgence, strong mining sectors, and the booming beauty industry, with 11 new names joining the ranks. However, while more women are accumulating wealth, gender pay gaps and funding disparities for female entrepreneurs remain significant challenges.

The annual Rich Women List highlights a growing wave of female-led financial success across various industries. Mining remains a dominant source of wealth, but technology and retail have made impressive gains. The list, released ahead of International Women’s Day, underscores both progress and enduring inequalities in economic participation and wealth creation for women in Australia.

While iron ore remains a lucrative sector, the rise of self-made entrepreneurs in industries such as beauty and fashion is reshaping the landscape. The founder of MCoBeauty Shelley Sullivan, secured her spot after selling the remainder of her company for $500 million, while a top fashion entrepreneur Annie Cannon-Brookes, maintained her position despite ongoing asset negotiations. Meanwhile, Canva’s co-founder Melanie Perkins, saw her fortune climb 20% thanks to strong valuation growth ahead of a potential public listing.

Recent shifts in the rankings also highlight divorce settlements, inheritance transfers and booming business performances. A real estate mogul Mina O’Neill and a Chemist Warehouse franchisee Debbie Dadon were among the newest entrants, alongside heirs to major business empires in packaging (Visy), property, and resources. Some of the wealthiest women on the list continue growing their fortunes through strategic investments, global expansion and acquisitions in high-growth sectors.

The growing representation of female entrepreneurs on the list signals an increase in business leadership opportunities, but economic barriers persist. Female founders still face challenges in securing venture funding, and income disparities remain a concern. While the latest ranking celebrates financial achievements, it also highlights the work needed to create a more level playing field for women in business and investment.

Source: Australian Financial Review, Women’s Agenda, Vogue