Nathan Tinkler has failed to make this year's BRW Young Rich list, with the former billionaire unable to make the $18 million cut-off that marked 100th place.
Exclusion from the list he topped in 2011 with an estimated wealth of $1.1 billion adds another chapter to his dramatic rise and fall.
Last year, Mr Tinkler was in second place with a fortune of $400 million, and arguably should have stayed at the top given that the $480 million first place was shared between technology entrepreneurs - Mike Cannon-Brookes and Scott Farquhar - who are on top again this year with combined fortunes of $550 million.
A spokesman for Mr Tinkler had no comment on BRW's claims that the former billionaire was now worth less than $18 million.
Mr Tinkler's financial status has long been under the spotlight, including in June when the hedge funds that had backed him in his coal industry ventures took control of his biggest asset, a 19 per cent stake in Gunnedah-based Whitehaven Coal.
No one knows, publicly at least, how much Mr Tinkler, aged 37, is really worth.
BRW said the Whitehaven shares were valued at about $560 million when sold, and his debts had earlier been estimated at between $600 million and $700 million.
BRW Young Rich List editor Andrew Heathcote said everyone on the list had made their own fortune; anyone inheriting most of their money was excluded.
There was now uncertainty around the "value of Tinkler's remaining assets".
"This makes him ineligible for this year's Young Rich, which values all members on a net wealth basis," he said.
Kurri Kurri motor-racing export Casey Stoner is the youngest person on the list at 27, coming in at No.96 with wealth of $20 million.
Other Young Rich Listers include model Miranda Kerr (99th, $18 million), who was raised in Gunnedah, and Erica Baxter (45th, $40 million), the recently separated wife of James Packer, who was born in the same town.
Ms Baxter, a list debutant at 36, is believed to be in LA with the couple's children.
"She's widely expected to get a substantial settlement, but it's very opaque at this early stage," said BRW editor James Thomson, who was in Newcastle this week for a business breakfast.
Mr Heathcote said technology was the biggest source of wealth this year, with the Top 100 worth $5.13 billion - about $30,000 less than when Mr Tinkler was on the list with a $400 million contribution.
Mr Heathcote said the top five industries were technology (32 people), sport (14), retail (10), financial services (seven) and property (seven).
He said 28 of the 100 on the list lived overseas: "For the first time, there are more Young Rich members living overseas than in any Australian state."
The top woman was Carman's Fine Foods muesli magnate Carolyn Creswell, who was ranked 34th with $55 million.