Wollongong media mogul Bruce Gordon is ranked at 134 on the Australian Financial Review's Rich List out on Thursday.
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The AFR has the owner of WIN Corporation, who is based in Bermuda as well as Wollongong, on its annual list of Australia's richest people at 134 with a worth of $702 million.
It notes how Mr Gordon purchased an additional 20 million shares in Nine Entertainment in January.
And described it as another substantial investment he has made in the company since it announced a merger with Fairfax Media last July.
Mr Gordon is now the largest individual shareholder in Nine, with ownership stakes through a combination of direct holding, his private investment vehicle Birketu and his own media outfit, the WIN Corporation.
The 90 year old was once an executive at Hollywood's Paramount Pictures, the job providing him with the funds in 1979 to purchase WIN, Australia's largest regional television network.
He rounds out his media shareholdings with stakes in Prime Media Group and TPG Telecom.
The Australian Financial Review Rich List revealed:
- Property remains the top source of wealth despite the recent housing slump.
- Technology is the fastest way to grow wealth.
- There are 26 women on the 2019 Rich List, up from 17 in 2018.
- Sydney and Melbourne tied for where most Rich Listers live.
The Rich List has tracked Australia's wealthiest people since 1983.
It was first published in BRW and limited to 100 people.
It expanded to 200 people the following year when the total value of Australia's wealthiest individuals and families was just $7 billion. That figure now exceeds $330 billion, up from $282 billion in 2018.
The Rich List issue of AFR Magazine is available from select newsagents throughout June as well as on the web at www.afr.com.
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