A major Lubavitch businessman was included once again in the BRW Rich 200, an annual list calculating Australia’s richest people, for the year of 2010.
The richest person in the country is Australian-Israeli retailer Frank Lowy, but it’s the mining magnates who’ve seen their wealth and numbers grow best.
And one of them is Yoseph Gutnick who re-enters the list at spot No. 133 with an estimated paper fortune of $300 million.
Plans to develop a phosphate mine near Mount Isa have put the Chassidic mining magnate back on the list after a 10 year absence, The Australian explained.
Gutnick, a major philanthropist to Chabad and other Jewish causes, had previously made and lost millions in the goldmining industry, with an exciting but unprofitable diversion into diamond exploration, the paper added.