Rupert Murdoch and Kerry Stokes are among the top five richest bosses in the country, while media is the wealthiest sector with a combined value of over $11 billion , according to BRW's 2013 Rich Bosses List.
The list is drawn from Australia's top 300 Australian Stock Exchange-listed (ASX) companies. It ranked the country's 100 wealthiest directors and managers by the value of the shareholdings in the companies they work for, not privately held wealth. BRW claimed the list demonstrated the importance of company bosses having "skin in the game" as they had the most to lose or gain by a change in their companies' fortunes.
News Corp executive chairman Rupert Murdoch was once again atop the prestigious list, thanks to his shareholding fortune of $9.13 billion. Murdoch has claimed the top spot on the Rich Bosses list since 2009, barring 2011, when Fortescue Metals Group chief executive Andrew Forrest was number one due to his $6.23 billion in shares. Murdoch earned the biggest salary of anyone on the Rich Bosses list at $29 million.
Murdoch's wealth has grown significantly over the past 12 months, jumping to the current figure from just over $6 billion last year. This is due to the company's cable television and entertainment group boosting its earnings, according to BRW.
The magazine also predicted the forthcoming split of the company - which will see it divided into News Corporation and the Fox Group - threaten Murdoch's position. He will however remain the chairman of both businesses and also act as chief executive of the Fox Group.
Executive chairman of Crown Limited, James Packer, was ranked second with a shareholding value of $4.34 billion. The media mogul has almost doubled his riches since his $2.81 billion last year.
Seven West Media chairman Kerry Stokes came in third place thanks to his $2.3 billion of Seven Group shares, which grew by 30% in the last twelve months. Stokes was the only chief executive of a television network to make the list.
A rebound in the share value of Harvey Norman, due to the company's property holdings, saw Gerry Harvey jump two places up the list to fifth. He holds $818.2 million.
However, it was Ainsworth Game Technology chairman Len Ainsworth who boasted the most impressive performance of all. Just last year, his company was not big enough to be considered for the list, but has ranked as number seven this year. His company's stock value increased by 420% in 2012 and Ainsworth stocks value now stands at $1.2 billion.
Only three women made it on the list this year, led by Westpac's chief executive Gail Kelly who came in 50th place with $49.3 million in shares. The combined wealth of the bosses on the list is $27.1 billion.
The media industry had the highest combined shareholder value - comprising of five executives - with $11.75 billion. Consumer services was the next most lucrative industry with 12 executives and a combined value of just over $6 billion. Industrial services, finance and retail also made the list. Retail was the lowest out of the top five but still had an impressive $1.2 billion of combined shareholder value.
Victoria had the highest number of rich bosses with 28, Western Australia had 26, New South Wales had 24, Queensland had 17 while five executives were based overseas.
The minimum entry level for the list was $13.5 million, which has increased since last year's $13.2 million. Seventy-four executives have returned from last year's list with 78% boosting their wealth.
BRW editor James Thompson said that while the list did include the giants of Australian business, it also recognised those who were employees rather than company founders. “Most rich list members are start their companies and retain a controlling stake. But the Rich Bosses list shows that top managers from smaller, fast-growing companies can strike it rich as salaried workers," he said in a statement.
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