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Australia hits its highest number of billionaires on record. Do we need more?
In short: Australia has its highest number of billionaires on record, at 178 — up 17 from last year — with total wealth exceeding $686 billion, according to Oxfam analysis. The report finds the collective wealth of Australia's billionaires increased by $25.67 billion over the past year — equivalent to almost $50,000 per minute. The increasing number of Australian billionaires has led to divided views on how it will impact the nation's prosperity.