Australian billionaires make $67,000 an hour, Oxfam says in call for tax on super-rich

Andrew Forrest and Gina Rinehart are two of Australia’s richest people. Composite: Getty Images

Australia’s 47 billionaires take home an average of A$67,000 an hour, over 1,300 times more than the average Australian, new Oxfam analysis reveals, as the anti-poverty organisation calls for the major parties to tax the fortunes of the super-rich to tackle inequality.

Using data from Forbes’ real-time billionaires list – which categorises billionaires in US dollars – to identify Australian billionaires, the report Takers Not Makers calculated that in 2024 Australian billionaire wealth rose by more than 8% or A$28bn, at a staggering rate of A$3.2m an hour.