Mining boom boosts Australia’s ultra-wealthy

In the past year, Australia’s richest 200 individuals have increased their collective wealth by 23 percent, or $33.1 billion, to a staggering $167.3 billion. The recently released Business Review Weekly (BRW) “Rich 200” points to escalating social inequality. Under conditions where working people are confronting worsening economic hardship, unprecedented levels of wealth are being concentrated in the hands of a tiny elite.