For 30 years running, real estate mogul Harry Triguboff has made the Australian Financial Review’s BRW Rich List – and 2015 promises to be no exception.
The Australian billionaire will be listed as having earned some $10.23 billion (in Australian currency) on the 2015 roster of the country’s mega-affluent, basically doubling his 2014 listed wealth.
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Triguboff, at 82, is Australia’s richest man. He was born in northern China to Russian Jewish immigrants and raised in the small Jewish community of Tianjin. He settled in Australia in 1947 and was educated in Britain. Triguboff went on to build textile concerns in Israel and South Africa.
His willy-nilly entry into the Australian real estate business in 1961 led to the establishment of the Sydney-based Meriton Apartments, which has earned him millions over the years.
In addition to the JNF, his philanthropy includes support for the Israel-based Shorashim Center which helps primarily Russian-speaking immigrants navigate the requirements of the country’s official Orthodox rabbinate.
Some 53 of the 200 names on the soon-to-be-released 2015 BRW Rich List made— or dramatically grew— their wealth in property, among them Paul Little and Bill and Imelda Roche.
Meriton has been active primarily in the apartment sector, though it has expanded into developing childcare centers to complement its housing offerings.
Meriton, with revenues in excess of $1 billion, was responsible for nearly 8, 000 housing starts last year more than any other firm in Australia. The company expects to market some 2, 500 apartments in 2015, primarily in Sydney and on the Gold Coast.
If labor was not an issue “we could certainly build more, ” Triguboff told the Review.
Forbes puts Triguboff’s wealth in US dollars at $5.4 Billion. For all his affluence, he is not among the world’s top 10 richest Jews who, according to Forbes, include Larry Ellison (Oracle), Michael Bloomberg, and Facebook’s Mark Zuckerberg.