The wealth of the richest 200 people in Australia is equivalent to nearly a quarter of national GDP, with researchers warning that if this trend continues, wealth disparity will soon destroy any remaining semblance of equality in Australian society.
The wealth of the very rich has more than tripled in the past two decades, from 8.4% of Australia’s GDP in 2004 to 23.7% of GDP in 2024, with the top fifth of households holding wealth 146 times greater than the bottom fifth, according to research released on Tuesday by the Australia Institute.
