At this point, I expect immigrants to do better than Australian-born in the areas of self-made billionaires, but I am here for a surprise. Immigrants are 1.8 times more likely to become self-made billionaires in Australia. Not only that, they are also a lot more wealthier.
Now, take the 3 richest self-made Australian Self-made Billioniares. They are all immigrants.
1. Harry Triguboff. He is worth $9.1B. He was born in China. He arrived in Australia as a refugee Jew. He made his fortune building high-rise condo in Australia. Well, in a country as vast and flat as Australian, he insisted on building high-rise when most Australian prefer to live in houses.
2. Frank Lowy. He is founder of international chain of shopping mall called Westfield. There are 32 Westfield Mall in the United States alone. He is worth $5.5B. He was born in what is Slovakia today.
3. Hui Wing Mau. He made most of his fortune in Hong Kong and China. He was born in Communist China. He is worth $3.9B. He holds dual citizenship of Australia and Hong Kong. He, too made his fortune in real estate, as the above 2 gentlemen.
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