Australian billionaire Harry Triguboff is Sydney’s richest resident. Picture: Jane Dempster
Australia’s richest man, billionaire developer Harry Triguboff, may have pulled off one of the slickest property coups of his storied career – the purchase of his own home.
Industry insiders have revealed to The Daily Telegraph that the Meriton boss’ private compound in affluent Vaucluse could now be worth over $250 million following dramatic price growth in the area.
It means the billionaire, who was ranked second behind Gina Rinehart in the latest BRW Rich List published this year, is now sitting on one of the most valuable homes in the country.
For some perspective, Australia’s priciest home sold to date was an amalgamated penthouse in Barangaroo that changed hands for $140 million in 2019.
MORE: Triguboff all out bid to sell Gold Coast penthouse
An aerial view of the 5200 sqm Triguboff estate, now rumoured to be worth $250m+.
The highest price for a freestanding house was the $130 million paid late last year for the former Point Piper residence of Atlassian co-founder Scott Farquhar.
The BRW Rich List 2025 estimated Mr Triguboff’s current net worth was just shy of $30 billion after growing by 11 per cent over the past year. This was one of the biggest rises among the ultra-wealthy on the list.
Mr Triguboff’s Vaucluse house is the result of acquisitions in the area, with the billionaire quietly stitching together waterfront blocks in Vaucluse to create a private compound.
The first of these blocks was purchased in 1983 with $4.1 million, equivalent in today’s money to about $16 million.
MORE: Jen Hawkins’ 4-year build as neighbours sell up
A view of the principal house on the estate pictured shortly after Triguboff snapped up the neighbouring block in 1998.
He and late wife Rhonda then snapped up the house next door for $6 million in 1998, records showed.
The landholding is now about 5200 sqm and is the second largest residential block in the area, but critically, is on a prime position on the coveted Vaucluse waterfront.
A prominent real estate agent within the area revealed that waterfront land in Vaucluse typically was now selling for about 50,000 a sqm.
This would suggest Triguboff’s amalgamated block would be worth north of $250 million.
“It’s more likely you’d get that value from subdividing,” the source said, noting that it was unlikely a single buyer would purchase the block in its entirety due to the high value.
Harry Triguboff is selling a unit in Main Beach, Qld.
It appears the subdivision route has been explored, with a DA lodged to the local Woollahra Council for a four-lot subdivision of the 5200 sqm landholding back in 2020.
Steep value changes in Vaucluse have followed a spate of recent sales at elevated prices.
A mansion on Vaucluse Rd sold for $56 million in June, while another home on Fitzwilliam Rd recently changed hands for $52 million, while a trophy house on Olala Ave sold for $42 million.
All of these properties were on sites substantially smaller than the Triguboff estate.
One of the few comparable estates in the area is the mansion of Menulog founder Leon Kamenev, which sits on another amalgamated site. The 4200 sqm site is estimated to be worth about $200 million.
The Vaucluse home of property developer Harry Triguboff
Mr Triguboff is currently selling an apartment in Gold Coast enclave Main Beach. It was a treasured holiday home for the couple, but failed to secure a buyer even after the price was dropped by $12m.
The sprawling sky home crowning the Silverpoint tower on Main Beach Pde will go under the hammer on October 11, marketed by Ray White Main Beach agent Robbie Graham.
English (US) · 