July 1, 2025 • 5 mins
Over time in Australia, what's been the best way to make money and get uber rich?
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
Welcome to Ask Fear and Greed, where we answer questions
about business, investing, economics, politics and more. I'm Michael Thompson.
Speaker 2 (00:09):
And hello Sean al Malo, Michael John.
Speaker 1 (00:12):
Today's question is purely driven by self interest. I would
like you to tell me, based on history in Australia,
what is the best way to make money and become
not just wealthy, not just rich, but uber rich.
Speaker 2 (00:31):
Ah, yes, mega wealthy.
Speaker 1 (00:33):
As if I've got any idea, you wouldn't be here
with me if you knew.
Speaker 2 (00:36):
No, no, no, But I did go to the AFI
Rich List to find out.
Speaker 1 (00:40):
Okay, and hang on, were you looking for trends?
Speaker 2 (00:45):
Because the trend Michael is your friend. Thank you very much.
Speaker 1 (00:50):
Oh God, you have spent too much time together, haven't we.
Speaker 2 (00:54):
Yeah, I have been looking at the rich list now
for like twenty five years. Probably I used to run
and brws. I used to do it. Then. We've told
had great stories about ringing up really rich people and saying, hey,
did you know you was eight hundred million? And they're like, really,
I thought I was only worth seven hundred and fifty
or you know eight fifty You've forgotten something.
Speaker 1 (01:13):
So that's fantastic.
Speaker 2 (01:15):
It is fun. It is fun.
Speaker 1 (01:17):
Does anyone anyone get really kind of just private about it?
Speaker 2 (01:21):
Or atally they just don't take your calls, okay, they
put them onto your business manager. And I remember one
individual still on the rich list today ringing and he said,
I will give you to my business manager for one
of a better term. And the business manager said, what
have you got the person at? And we said, however,
many hundred million it was at the time, and the
(01:44):
guy goes, hmmm, yes, I think that will do you. Yes,
Obviously we'd missed out huge amounts of money because he's there,
so I think that'll do you. Yes, right, thanks very.
Speaker 1 (01:56):
Much, fantastic. So obviously keeping something a little bit kind
of well, well that's not necessarily keeping it quiet, but
happy for it not to be in the.
Speaker 2 (02:03):
Public remain definitely. So. The best way to make money
over many many years has been property. Property, property, property, property.
It seems to be the go I mean, Harry Triggerboff
is probably the richest property dullion in Australia now. He's
worth nearly thirty billion dollars merit and fame. He's a
prime example. A close second over the time though in
(02:25):
the twenty twenty five Rich List, if you had all
the five of the two hundred amounts together. Mining actually
came on top of property, but over the long term
property has been more important than mining. But mining's a
close second. So Gina Reinhart which is Australian thirty eight
billion dollars, Andrew Forrest until this year was number two
(02:47):
for several years.
Speaker 1 (02:50):
Yeah, I'm not liking much chances of getting riched through mining.
I mean, I have a mortgage on a small residential
property that is about four hundred and seventy square meter
and I'm ninety percent sure there's no iron all buried
under buried underneath it.
Speaker 2 (03:03):
What about tech there? You can get techs. That's the
third So could you do canber It's already been done.
Well yeah, but Melanie Perkins and Cliff Wallbrick together fourteen
point four billion dollars, I mean, the Atlasian Fellas, Scott
Farqua billionaires. Try them. Next comes retail, okay, and then manufacturing.
(03:23):
So Dick Pratt's busy industry is the great example there.
Media in gaming and investment are the next two sectors.
Speaker 1 (03:32):
Okay, So I mean they're they're the trends. Really, there's
always been kind of one offs though, right, that have
done well. Kerry Packer was the richest Australian for a
very long time, very colorful identity as well.
Speaker 2 (03:46):
I used to battle with Rupert Murdock to see who
was richer.
Speaker 1 (03:49):
Oh that's a good point.
Speaker 2 (03:50):
It was always a big fight.
Speaker 1 (03:51):
And nowadays you've got Kerry Stokes. Yeah, who's in the
top ten, right, So that's kind of all of these
kind of one offs.
Speaker 2 (03:57):
Yeah, but there. I mean, I suppose Packer and Murder
were media moguls and this was at a time when
when you own media, you had the loudest voice and
you probably made the most money. I mean, that's no
longer the case. In fact, James Packer, who obviously the
heir to carry Packer's fortune, now he did have to
split some of that with his kid, with his siblings,
but he's worth five billion dollars, so he's worth about
(04:22):
what fifteen percent of the richest Australian whereas his father
was always the richest Australian. And you just quickly mentioned
Kerry Stakes. I mean he's in media with seven, but
he's also got Boral, the building materials company, Beach Energy,
which is oil and gas a wez track. So he's
(04:43):
got a bunch of other things as well.
Speaker 1 (04:44):
Okay, So in conclusion, basically, if we want to be
uber rich, we need to go back in time, buy
a whole lot of property, yes, or have an iron
all mine.
Speaker 2 (04:57):
Yeah, it's probably easy to buy property tooth pinner.
Speaker 1 (05:00):
Yeah yeah, I mean you need the time machine, which
is not so easy. Or I have a great tech idea,
which is probably the one that's most within our reach.
Speaker 2 (05:08):
Have you within your reach?
Speaker 1 (05:10):
Have you got any ideas?
Speaker 2 (05:11):
Nothing either?
Speaker 1 (05:12):
All right, we'll keep braining staw me.
Speaker 2 (05:13):
If you come up with a good media and gaming
for you and Greed, you never know. Here we are.
Speaker 1 (05:17):
We've got with a shot, all right, Thank you, Sean,
Thanks Michael. If you've got your own question that you
would like us to answer, then please send it on
through via Fearangreed dot com dot au or jump onto
any of the social media platforms LinkedIn Facebook, Instagram. Send
us a message through any of those and we will
answer your question. Oh, Michael Thompson, just ask Fear and
Greed
Welcome to Ask Fear and Greed, where we answer questions
about business, investing, economics, politics and more. I'm Michael Thompson.
Speaker 2 (00:09):
And hello Sean al Malo, Michael John.
Speaker 1 (00:12):
Today's question is purely driven by self interest. I would
like you to tell me, based on history in Australia,
what is the best way to make money and become
not just wealthy, not just rich, but uber rich.
Speaker 2 (00:31):
Ah, yes, mega wealthy.
Speaker 1 (00:33):
As if I've got any idea, you wouldn't be here
with me if you knew.
Speaker 2 (00:36):
No, no, no, But I did go to the AFI
Rich List to find out.
Speaker 1 (00:40):
Okay, and hang on, were you looking for trends?
Speaker 2 (00:45):
Because the trend Michael is your friend. Thank you very much.
Speaker 1 (00:50):
Oh God, you have spent too much time together, haven't we.
Speaker 2 (00:54):
Yeah, I have been looking at the rich list now
for like twenty five years. Probably I used to run
and brws. I used to do it. Then. We've told
had great stories about ringing up really rich people and saying, hey,
did you know you was eight hundred million? And they're like, really,
I thought I was only worth seven hundred and fifty
or you know eight fifty You've forgotten something.
Speaker 1 (01:13):
So that's fantastic.
Speaker 2 (01:15):
It is fun. It is fun.
Speaker 1 (01:17):
Does anyone anyone get really kind of just private about it?
Speaker 2 (01:21):
Or atally they just don't take your calls, okay, they
put them onto your business manager. And I remember one
individual still on the rich list today ringing and he said,
I will give you to my business manager for one
of a better term. And the business manager said, what
have you got the person at? And we said, however,
many hundred million it was at the time, and the
(01:44):
guy goes, hmmm, yes, I think that will do you. Yes,
Obviously we'd missed out huge amounts of money because he's there,
so I think that'll do you. Yes, right, thanks very.
Speaker 1 (01:56):
Much, fantastic. So obviously keeping something a little bit kind
of well, well that's not necessarily keeping it quiet, but
happy for it not to be in the.
Speaker 2 (02:03):
Public remain definitely. So. The best way to make money
over many many years has been property. Property, property, property, property.
It seems to be the go I mean, Harry Triggerboff
is probably the richest property dullion in Australia now. He's
worth nearly thirty billion dollars merit and fame. He's a
prime example. A close second over the time though in
(02:25):
the twenty twenty five Rich List, if you had all
the five of the two hundred amounts together. Mining actually
came on top of property, but over the long term
property has been more important than mining. But mining's a
close second. So Gina Reinhart which is Australian thirty eight
billion dollars, Andrew Forrest until this year was number two
(02:47):
for several years.
Speaker 1 (02:50):
Yeah, I'm not liking much chances of getting riched through mining.
I mean, I have a mortgage on a small residential
property that is about four hundred and seventy square meter
and I'm ninety percent sure there's no iron all buried
under buried underneath it.
Speaker 2 (03:03):
What about tech there? You can get techs. That's the
third So could you do canber It's already been done.
Well yeah, but Melanie Perkins and Cliff Wallbrick together fourteen
point four billion dollars, I mean, the Atlasian Fellas, Scott
Farqua billionaires. Try them. Next comes retail, okay, and then manufacturing.
(03:23):
So Dick Pratt's busy industry is the great example there.
Media in gaming and investment are the next two sectors.
Speaker 1 (03:32):
Okay, So I mean they're they're the trends. Really, there's
always been kind of one offs though, right, that have
done well. Kerry Packer was the richest Australian for a
very long time, very colorful identity as well.
Speaker 2 (03:46):
I used to battle with Rupert Murdock to see who
was richer.
Speaker 1 (03:49):
Oh that's a good point.
Speaker 2 (03:50):
It was always a big fight.
Speaker 1 (03:51):
And nowadays you've got Kerry Stokes. Yeah, who's in the
top ten, right, So that's kind of all of these
kind of one offs.
Speaker 2 (03:57):
Yeah, but there. I mean, I suppose Packer and Murder
were media moguls and this was at a time when
when you own media, you had the loudest voice and
you probably made the most money. I mean, that's no
longer the case. In fact, James Packer, who obviously the
heir to carry Packer's fortune, now he did have to
split some of that with his kid, with his siblings,
but he's worth five billion dollars, so he's worth about
(04:22):
what fifteen percent of the richest Australian whereas his father
was always the richest Australian. And you just quickly mentioned
Kerry Stakes. I mean he's in media with seven, but
he's also got Boral, the building materials company, Beach Energy,
which is oil and gas a wez track. So he's
(04:43):
got a bunch of other things as well.
Speaker 1 (04:44):
Okay, So in conclusion, basically, if we want to be
uber rich, we need to go back in time, buy
a whole lot of property, yes, or have an iron
all mine.
Speaker 2 (04:57):
Yeah, it's probably easy to buy property tooth pinner.
Speaker 1 (05:00):
Yeah yeah, I mean you need the time machine, which
is not so easy. Or I have a great tech idea,
which is probably the one that's most within our reach.
Speaker 2 (05:08):
Have you within your reach?
Speaker 1 (05:10):
Have you got any ideas?
Speaker 2 (05:11):
Nothing either?
Speaker 1 (05:12):
All right, we'll keep braining staw me.
Speaker 2 (05:13):
If you come up with a good media and gaming
for you and Greed, you never know. Here we are.
Speaker 1 (05:17):
We've got with a shot, all right, Thank you, Sean,
Thanks Michael. If you've got your own question that you
would like us to answer, then please send it on
through via Fearangreed dot com dot au or jump onto
any of the social media platforms LinkedIn Facebook, Instagram. Send
us a message through any of those and we will
answer your question. Oh, Michael Thompson, just ask Fear and
Greed
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