Travel storms the rich list

THE barons of Australia’s travel industry have surged up the 2018 Rich List, increasing both their wealth and their rankings among the country’s top millionaires.

Compiled by the Australian Financial Review, this year’s list is again topped by billionaires like Anthony Pratt, Harry Triguboff and Gina Rinehart, but includes a wealthier contingent of travel identities as the sector continues to outperform the rest of the national economy.

This year’s top travel mogul is Consolidated Travel Group ceo Spiros Alysandratos, who has stormed up the list from position 118 last year to become Australia’s 83rd richest person.

In the past year his worth has surged from $582 million to $869 million, the AFR says.

In the process, Alysandratos has overtaken previous travel leaders Geoff Harris, Bill James and Graham Turner, the three co- founders of Flight Centre.

The trio have also lifted their rankings - Harris up from 106 to 84 and worth $867 million, James up from 100 to 85 and carrying $863 million, and Turner up from 108 to 86, with $861 million.

Another on the rise is Corporate Travel Management ceo Jamie Pherous, who was ranked 178 last year and is now at 141 and worth $586 million.

Hotel owner Robert Magid defied the trend, slipping from 142 to 168 while still boosting his wealth to $513 million.