Who’s out: The rich get poorer, sometimes

Sixteen people have departed the Rich 200 this year. Three long-time members – Michael Wright, David Mandie and Doug Moran – died during the past year. Moran was one of 18 people to appear on all 28 previous lists. Some were left off this year after changes in valuation methodologies, while others had a fall in the value of their assets.

• RELATED LINKS
• The list - BRW Rich 200 2012
• Who’s in: You must be new here
• Who’s out: The rich get poorer sometimes
• Full list: Australia’s wealthiest families

The highest placed member of last year’s list to miss the $210 million cut-off this year is Shi Zhengrong. His US-listed, China-based solar energy company hasn’t had a good run. A big fall in the Suntech Power share price cut his wealth from $484 million last year to $170 million.

Nik Zuks is behind the west African resources venture Bellzone Mining, which was floated in 2010 on the Alternative Investment Market on the London Stock Exchange. By the time last year’s Rich 200 was published Zuks’ wealth ($294 million) was already on the decline. It has since fallen much further ($135 million).

The slowdown in the performance of mining shares has hurt the wealth of several Rich 200 members. Max Begley’s wealth is down to about $70 million from $240 million last year after investors marked down mining services business Matrix Composites and Engineering after its results failed to meet analyst expectations.

Another notable departure is Lachlan Murdoch. He debuted last year with a $217 million fortune but his wealth is now down to $160 million at last count.

Good-bye and farewell: The names that left the list

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