TV moguls see fortunes shrink as Bruce Gordon exits billionaires club and Stokes falls below $2bn

Tough times in traditional media have seen Seven mogul Kerry Stokes’ estimated wealth go through one of the biggest falls in this year’s BRW Rich List, which was published today.

According to the list, Stokes’ personal wealth, which comes from both media and the resource industry, fell by $400m to $1.71bn, while his position on the list dropped from number 16 to number 25.

Stokes is the major shareholder in Seven Group Holdings which in turn owns about a third of Seven West Media. SWM’s key assets include the Seven TV network, Pacific Magazines, The West Australian newspaper and joint venture Yahoo7.