Richest Aussies banking on real estate

  • Australia’s richest people are putting their money into real estate and technology start-ups to grow and maintain their wealth.

The number of very wealthy people – also known as high net worth individuals (HNWI) – in Australia rose to 234,000 in 2015, up from 226,000 the year before, a new report shows.

HNWIs are people with more than $US1 million ($A1.33 million) in assets – excluding their primary home, collectables and other goods – that can be invested.

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