Andrew Heathcote Rich Lists editor

Andrew is BRW's Rich lists editor and is responsible for the Rich 200 and Young Rich flagship issues. He also reports on matters relating to wealth and investment for BRW and The Australian Financial Review.

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Who’s out: The rich get poorer, sometimes

Published 24 May 2012 00:01, Updated 30 May 2012 15:09

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Sixteen people have departed the Rich 200 this year. Three long-time members – Michael Wright, David Mandie and Doug Moran – died during the past year. Moran was one of 18 people to appear on all 28 previous lists. Some were left off this year after changes in valuation methodologies, while others had a fall in the value of their assets.

The highest placed member of last year’s list to miss the $210 million cut-off this year is Shi Zhengrong. His US-listed, China-based solar energy company hasn’t had a good run. A big fall in the Suntech Power share price cut his wealth from $484 million last year to $170 million.

Nik Zuks is behind the west African resources venture Bellzone Mining, which was floated in 2010 on the Alternative Investment Market on the London Stock Exchange. By the time last year’s Rich 200 was published Zuks’ wealth ($294 million) was already on the decline. It has since fallen much further ($135 million).

The slowdown in the performance of mining shares has hurt the wealth of several Rich 200 members. Max Begley’s wealth is down to about $70 million from $240 million last year after investors marked down mining services business Matrix Composites and Engineering after its results failed to meet analyst expectations.

Another notable departure is Lachlan Murdoch. He debuted last year with a $217 million fortune but his wealth is now down to $160 million at last count.

Good-bye and farewell: The names that left the list

Name Last year $m Reason for departure
Michael Wright * 2140 Deceased
John Wilson 497 Moved to families section
Alan Wilson 491 Moved to families section
Bruce Wilson 487 Moved to families section
Shi Zhengrong 484 Missed cut-off
Lewis Saragossi 338 Revised. Missed cut-off.
Nik Zuks 294 Missed cut-off
Tom Misner 292 Revised. Missed cut-off.
David Mandie 289 Deceased
Roger Fletcher 251 Revised. Missed cut-off.
Chris Corrigan 248 Revised. Missed cut-off.
Max Begley 240 Missed cut-off
Andrew Brice 237 Missed cut-off
Doug Moran 228 Deceased
Terry Morris 224 Missed cut-off
Lachlan Murdoch 217 Missed cut-off

* with Angela Bennett

NameLast year $mReason for departureMichael Wright *2140Deceased
Michael Wright * 2140 Deceased
John Wilson 497 Moved to families section
Alan Wilson 491 Moved to families section
Bruce Wilson 487 Moved to families section
Shi Zhengrong 484 Missed cut-off
Lewis Saragossi 338 Revised. Missed cut-off.
Nik Zuks 294 Missed cut-off
Tom Misner 292 Revised. Missed cut-off.
David Mandie 289 Deceased
Roger Fletcher 251 Revised. Missed cut-off.

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