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Australia’s 178 billionaires are $25.7bn richer than last year as 3.7 million live in poverty

The Guardian World Monday 01 June 2026, 14:01 UTC By Cait Kelly Inequality reporter 1 min read
Key Points

Oxfam finds the 20 richest Australians now hold more wealth than the bottom 3 million households, analysis shows Get our breaking news email, free app or daily news podcastThe wealth of Australia’s billionaires increased by $25.67bn in the past year, equivalent to almost $50,000 a minute, according to new Oxfam Australia analysis of the 2026 Australian Financial Review Rich List. The anti-poverty organisation said the total wealth of Australian billionaires in 2026 has reached more than...

Oxfam finds the 20 richest Australians now hold more wealth than the bottom 3 million households, analysis shows

The wealth of Australia’s billionaires increased by $25.67bn in the past year, equivalent to almost $50,000 a minute, according to new Oxfam Australia analysis of the 2026 Australian Financial Review Rich List.

The anti-poverty organisation said the total wealth of Australian billionaires in 2026 has reached more than $686bn, while Acoss figures show 3,706,000 people live in poverty, including 757,000 children under 15 years.

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Australia (LOCATION) Oxfam (ORG) Australians (ORG) the 2026 Australian Financial Review Rich List (ORG) Australian (ORG) Acoss (ORG)
Originally published by The Guardian World Read original →

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