26 Sep 2011

Plenty of young millionaires

7:01 am on 26 September 2011

The wealth being generated in the Australian mining industry these days is creating plenty of young millionaires.

Mining magnate Nathan Tinkler, 35, tops the Young Rich List. He has an fortune estimated at $A1.1 billion and owns the Newcastle Knights league team.

Tinkler began his career as an electrician in the Hunter Valley coal mines.

The second richest young hotshot is London-based hedge fund manager Greg Coffey with $A740 million to his name.

The total wealth of the BRW magazine list has risen to $A7.3 billion this year, up from $A6.3 billion only a year ago.