As of April 24, 2023, the largest company listed on the Australian stock exchange was BHP Group Limited, with a total market capitalization of over 228 billion Australian dollars.
Flourishing at the top of the list for the third consecutive year is Hancock Prospecting, with an estimated revenue figure of $18.9 billion, supported by rising iron ore prices and strong performances within the mineral exploration and cattle farming sectors.
The biggest stocks traded on the ASX, in terms of market capitalisation, include BHP, Commonwealth Bank, Westpac, Telstra, Rio Tinto, National Australia Bank and Australia & New Zealand Banking Group. The major market index is the S&P/ASX 200, an index made up of the top 200 shares in the ASX.
The US remains the biggest investor in Australia, owning about $138 billion of foreign equity holdings, or around 32 per cent, with the UK close behind on $127 billion, or about 30 per cent. Also fast moving up the ranks are the Singaporeans and Chinese, buying up our telecommunications and power utilities.
Woolworths has again topped the list of Australia's most valuable brands for the fourth year in a row, while Bunnings has been recognised as the strongest brand in the country for a second year.
In Australia, Australia Post is considered the oldest still-running company. The organisation was established in 1809 in the colony of New South Wales with just one man sorting incoming mail at his home. Make your money work with Yahoo Finance's daily newsletter.
Forbes' real-time data shows that as of April 2023, there are 50 Australian billionaires on the list of the world's richest people.
The company's strong performance was reflected in the stock market, with Apple holding the world's largest market capitalisation between 2012 and 2017. Microsoft took this title away from Apple in 2018, while Aramco's stock market breakthrough at the end of 2019 pushed Apple into third place.
According to IBISWorld, Australia's top three fastest-growing industries all come under the travel umbrella. The top is travel insurance, with a projected 2023-24 revenue growth of 206.0%, followed by foreign currency exchange at 128.5%, then inbound tour operators at 87.1%.
Gina Rinehart
Gina Rinehart has kept the top spot on the rich list once again. The mining magnate has an estimated $37.1 billion. Her wealth derives from the privately owned mining company Hancock Prospecting, founded by her father Lang Hancock.
The Highest Paying Jobs in Australia in 2023
The five highest paying jobs in Australia in 2022 and 2023 are surgeons, anaesthetists, internal medicine specialists, financial dealers and psychiatrists, according to the Hays Recruitment Salary Guide.
Information from the 2021 census, released by the Australian Bureau of Statistics (ABS) today, found that health care, retail, construction and education employed the most people across Australia.
Who is the richest man in the world? As of May 1, 2023, the richest man in the world is Bernard Arnault, the CEO and chairman of LVMH of France; he's worth nearly $237 billion. He moved into the number one spot after Elon Musk's fortune fell in late 2022 as shares of electric carmaker Tesla fell.