Top boss: Rupert Murdoch has topped the list of Australia’s richest ASX 300 executives and managers by shareholding wealth.
Australia’s sharemarket rally has warmed the hearts of investors of all shapes and sizes, but no one has benefited more than the 100 executives and managers who form BRW’s Rich Bosses list for 2013.
While the benchmark S&P/ASX 200 is up 20 per cent over the past year, the total wealth of those on the Rich Bosses list has surged 34 per cent to $27.1 billion.
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In addition, 78 per cent of the 74 executives who returned from last year’s list have enjoyed an increase in their wealth.
BRW’s Rich Bosses list is drawn from Australia’s top 300 ASX-listed companies, ranking Australia’s 100 wealthiest directors and managers as measured by the value of the shareholdings in the companies they work for.
The list is different from BRW’s other rich lists because it excludes privately held wealth. The people on the Rich Bosses list must have day-to-day management responsibilities at the companies they head to be eligible.
Rich Bosses Top 5
||Seven Group Holdings
||Platinum Asset Management
||Harvey Norman Holdings
News Corporation chairman Rupert Murdoch tops the 2013 list with a shareholding worth $9.13 billion, up from $6.01 billion last year. Not only has Murdoch posted the biggest increase on this list, but his salary of $29 million is also the largest of the 100 members.
A resurgent James Packer is second on the list with $4.3 billion, followed by Kerry Stokes ($2.3 billion) and fund manager Kerr Neilsen ($1.64 billion).
Retail veteran Gerry Harvey was fifth with $818 million, proving fortunes can still be made from bricks and mortar retail.
Murdoch has held top spot on the annual Rich Bosses list since 2009, bar 2011 when former Fortescue Metals Group chief executive Andrew Forrest was No. 1, with $6.23 billion in Fortescue shares.
However, the success or otherwise of the planned spin-off of News Corp’s publishing business, due to occur later this year, may make it more difficult for Murdoch to retain top spot on the Rich Bosses list next year.
Just three women make the list. Westpac Banking Corp’s Gail Kelly is the highest ranked woman, with $49.3 million, while Katie Page from Harvey Norman Holdings and Claire Gray from Corporate Travel Management also qualify.
Mining company Mineral Resources and Wesfarmers have the most members on the list, each with four.
Wesfarmers managing director Richard Goyder and finance director Terence Bowen are joined this year by the managers of Bunnings and Kmart, John Gillam and Guy Russo.
The minimum entry level is $13.5 million, compared with $13.2 million last year.
Rich Bosses: Top Industries
||Number of Rich Bosses
||Combined value of shareholdings