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An overview of rise in wealth of Rich 200 in Australia is presented.

Changes in the society affect the business through the change in the demands of customers, employees, investors or other stakeholders. The growing population is a major problem and the next generation would have to pay for this economic problem by paying more taxes.

Property has been the key to wealth creation since long, and has remained so during the year 2003. Though property made many people rich during 2003, the biggest moneymakers came from a range of areas such as retail and property, resources, and telecommunications. Some of the top selected money makers of the year 2003 along with their sectors are reported.

The young rich of Australia although share different backgrounds and skills, like having wealthy parents or MBAs, they share similar ambitions and insights. The youngest person on the BRW Young Rich list is tennis player Lleyton Hewitt, the richest person is John Ilhan and the total wealth of 62 people on the list amounts to 2.52 billion dollars.

Companies and trusts making a staggering 5.5 billion dollars are run by Australia's property kings which includes a collection of developers, fund managers, entrepreneurs, construction magnates and executives. It is identified that twenty-three property kings with the biggest increases in asset values, manage 26 billion dollars of property.

Global markets have been hurt by fears of deflation in the U.S. Deflation is the economic phenomenon in which prices decline.

Affluent customers in Australia are often dissatisfied with their relationships with banks, while the banks find this group of customers has needs that are expensive to meet. In the high-net-worth sector, over the past 12 mo, there has been rationalisation.

Corporate boards of Australian listed companies are slowly changing and becoming more diverse as older directors retire. More women and minorities are becoming non-executive directors, and companies are beginning to use search firms for recruitment rather than hiring familiar people.

Hedge funds are becoming more popular with Australian investors as a way of beating the bear market. Returns have been higher than those in the equities market, but potential investors should do serious research beforehand because hedge funds can be very complicated.

Issues are presented concerning the success of five companies who have encouraged the careers of 19 businessmen who feature on the Rich 200 List for 2001. The economic policies followed by these companies are discussed.

Issues concerning ways in which the terrorist attack on New YOrk, United States, in September 2001 could affect the economic state of Australia are discussed. Particular attention is given to statistical information illustrating Australia's international trading levels.

Issues are presented concerning the growing confidence of investors in hedge funds. The investment opportunities offered by the 20 hedge funds managing 2-billion Australian dollars which have been set up in Australia are discussed.

Issues are presented concerning the compilation of the 'Rich 200' list which gives brief details of the 200 wealthiest individuals and families in 2001. The business sectors dominating the list and the loss of fortune of certain individuals are discussed.

An overview is presented of a group of Australian high technology professionals who have survived the technology crash of 2000 and who have the endurance to continue their success. The group includes Tony Wales, the finance director of Computershare, who is currently worth approximately $AS315 million.

The trend in 2000 towards employing and retaining executives aged over 50 in Australia is discussed, with focus on the advantages of having experienced employees, and the need for more flexible working arrangements.

An analysis of Australian business leaders who have achieved the greatest increases in personal wealth since 1995 is presented.

A discussion on the management of family firms is presented. Generation Holdings Executive David Smorgon describes the difficulties some families face which can lead to the destruction of the company.

Australia's Rich 200 for 2000 reveals that the list is becoming broader and a selection of statistics relating to the entrants is presented. This year's 40 new entrants include younger people who may have created their own wealth, particularly from new technology.

There is a lack of alignment between Australia's economy and the views of dealers who assess the Australian dollar. This situation may have benefited Australia during the Asian crisis, but could also have a negative impact. Issues concerning the marketing of the Australian dollar are discussed.

The problems facing the Japanese economy are discussed, including its ageing population, spiralling debt and stalled consumption.

The Australian population is aging, and the baby-boom generation will precipitate cultural and economical changes in Australia as they reach their 50s in the early 21st century. The 4.1 million people born between 1946 and 1960 will starting moving past age 55 from 2001. Access Economics forecasts that manufacturers will have to make smaller cars, looser-cut clothing, and so on, to accommodate a longer-lived population. The decrease of compulsory retirement and the increase of the self-employed aging may contribute to a worker shortage.

Business lobby groups have a small group of people who can manage them. It is not important that an individual understand the industry. The manager should have a strategy and be a good manager. The manager should also understand politics and have good analytical skills.

Industry policy is an important issue in Australian business. With an upcoming election the Labor Party is counting on a grandiose plan to increase investment and slash unemployment. Despite the election's focus on employment, industry policy has taken a secondary role behind the government's Investing for Growth package and business groups that seek tax reform.

A study was conducted to analyze industrial relations in the Australian pastoral industry. The study also examined factors affecting the employment of shearers in the country, include arbitrated adversarialism. It also studied transition issues associated with the relationship between the Australian Workers' union and the National Farmers' Federation. Results indicated a number of complexities in reforming industrial relations in Australia.

The entrance of the One Nation party into Australian politics is much like the emergence of a new company into the market. New political parties face many of the same barriers as new companies. For instance, there are barriers to governmental and industry success, and, in both situations, established entities may retaliate. Furthermore, new companies seek out empty niches in the market, while parties look for unsatisfied voters.

Australia may have a new tax system after Mar 2000, with top personal tax rates at 39%-42%, corporate taxes at 33%, and a 10% GST, according to Michael Evans. Eliminating certain levies, such as the wholesale sales tax, might be compensated by higher charges elsewhere. Economic models are used to illustrate the effects of tax changes on several industries.

Australian Minister for Workplace Relations Peter Reith is ambitious enough to seek the prime minster's office. He has supporters within the business community, but there is little public recognition of him or his stands on the issues. Among Reith's priorities, in his Workplace Relations post, are waterfront reform and the implementation of a major small-business package.

The Australian government is exiting the nation's wheat industry by listing the Australian Wheat Board (AWB) with the stock exchange. The AWB has sales of around $4 billion per year and 62,000 shareholders, and is expected to rank instantly in the top 50 stocks. About A$550 million will be raised for capital via a 2% wheat-selling levy, and creation of AWB Ltd. is planned for 1999.

The tax reform plans of Australian PM John Howard's government will bring an end to negative gearing in real property according to Real Estate Institute of Australia CEO Philip Eliason. The 1987 budget reinstated negative gearing, which was banned in 1985, in property, which fed the real estate boom that peaked in 1989. The loss of negative gearing will reduce the profitability of real estate investments.

The role of executive director Warwick Smith of Macquarie Bank, in the bank's growth, is discussed.

This article appeared in the 14-20 July 2005 issue of BRW. It is reprinted with permission. As corporate life becomes more complicated, the job of company secretary is getting more [...]

Australian companies like Wesfarmers, Woolworths, and Westfield are the most respected names on the Australian bourses. The strategies adopted by these companies are discussed, and their rankings from various perspectives are furnished. The chief executive officers, and the board of directors of these companies are also evaluated.

The Grants CommissionEs distributing $57 billion to the states has been a difficult task, in spite of the benefits of tax reforms. The distribution of funds is done on the basis of the stateEs financial capacity. The states spend it largely on health and/or education.

Australia's 200 rich persons have been categorized into sections, viz., the existing rich, the neo rich and the re-entry rich. The entry level for this years' list has been a fortune of a $100 million. Statistics pertaining to their fortunes have been furnished and an analysis of forecasts and trends has been furnished.

According to Alan Greenspan, chairman of the United States Federal Reserve, the key to assessing the economy is to understand not so much what people say they are doing but what they are actually doing. It is not as easy as it sounds, thus, behavioral economics, an area of study is merging that aims to overcome obstacles in market analysis.

The interstate investment co-operation agreement signed by New South Wales, Victoria, Tasmania, Western Australia, South Australia and the Australian Capital Territory is presented. State governments would need to try to increase revenue for healthcare, and continually improve their co-ordination to attract international investors, plus promote Australia as an investment destination.

Simon Crean won the elections and his biggest support came from chief executive in the finance sector. Crean needs to show that business can take some persuading as he has the stature to be the Prime Minister and his victory means a little unless he achieves a bounce in the public opinion polls

The Australia's richest 200 people have done very well and have defied the market though the United States economy has stalled and even Australian economy has come down to earth. The rise and fall in the fortunes of Australia's richest 200 people is examined.