Bianca Rinehart, meanwhile, joins mother Gina Rinehart on the list, having taken control of 23 per cent of the huge Hancock Prospecting after a bitter legal dispute last year.

The holdings of Anthony Pratt and his sisters in the paper, packaging and recycling giant Visy, together with Anthony Pratt's ownership of Pratt Industries in the United States, is combined in the "Anthony Pratt and family" entry on the list at $10.35 billion.

Traced back

But Alex Waislitz, who heads the successful Thorney investment business, makes the list in his own right this year with wealth estimated at $1.13 billion. His brother-­in-­law and chairman of Pact Group, Raphael Geminder, also debuts in his own right, with an estimated wealth of $1.22 billion.

Their fortunes can be traced back to the Pratt family and former patriarch Richard. Both Waislitz and Geminder now have independently successful businesses, held with their wives.

Gretel Packer will debut on the BRW Rich 200 this year. Paul Jeffers

It is a situation likely to keep repeating across the list over the coming decade. The average age of the wealthiest 200 Australians is 66, and 27 are 80 or older – meaning there will be more wealth splitting to come. Succession plans will be even more vital to keeping family businesses, and thus wealth, together.

Some big names on the list have begun the process, such as Frank Lowy. Two of his sons, Steven and Peter, are co-chief executives of the Westfield shopping centre empire, while another, David, heads the Lowy Family Group private investment firm.

Similarly, David and Vicky Teoh, chief executive and large shareholder of TPG Telecom, have appointed son Shane to the TPG board, while Lindsay Fox has three sons in executive positions at Linfox.

Others are going in different directions. Gerry Ryan last year appointed an outsider as chief executive of his caravan maker Jayco. The family will maintain ownership but Ryan's children do not hold management roles.