BRW Rich Families List remains largely unchanged Low turnover on the BRW list is testament to how astute wealthy families are at protecting their money Source: News Limited Smorgon family again claim title as most prosperous Worth a whopping $2.64 billion Combined wealth of top three families is $6.84 billion AUSTRALIA'S super rich aren't a new breed, with three old-monied families retaining their long-held reign as the nation's wealthiest dynasties. The Melbourne-based Smorgon family, which originally amassed its fortune from meat processing and more recently steel, has been the most cashed-up clan on the BRW Rich Families List for 15 years. They are worth a whopping $2.64 billion, but even rich-listers are feeling the resources pinch with the Smorgon's wealth edging up only slightly from $2.63 last year. Fellow Melbourne families, retailing billionaires the Besens and the investment diversified Liberman are in second and third place respectively on the list. The trio's combined wealth is $6.84 billion, down from $6.98 billion last year. While second and third place has changed slightly since 2008, it has been the same three families at the pointy end of the BRW list for years. Highly diversified holdings such as theirs is sometimes crudely referred to as "parasitic wealth" as it creates compounding funds, without much need for new or outside investment and development. The average wealth of the returning families on the list of 50 is up 1.5 per cent, with the cooling of the resources boom, and difficulties in the beef industry hurting their well-lined hip pockets. Property remains one of the key investment sectors for Australia's wealthiest families, and this year the Whites of Ray White Real Estate return to the list after an absence in 2012. The Young family at number 48 provide the list with its most unusual inclusion. Angus and Malcolm are founding members of the legendary rock and roll band AC/DC, while their brother George is a highly successful songwriter and producer. Unlike billionaires Gina Rinehart, Clive Palmer and James Packer, the ultra-wealthy on BRW's Rich Families List are not widely recognised. However, BRW editor James Thomson says more than 70 per cent of Australian companies identify as family businesses. "Family businesses are going through difficult transitions at the moment as second, third and even fourth generations emerge, often with very different goals to their parents," Mr Thomson said. More and more of the wealthiest families are moving assets to fourth and even fifth generation family members and families face the challenge of diversifying assets and accommodating expanding pools of claimants. Mr Thomson said low turnover on the list is testament to how astute wealthy families are at protecting their money. They tend to ride out bumps - like the global financial crisis - much more smoothly than most investors, he said. Smorgon-$2.64bn-Investment Besen-$2.1bn-Property, retail Liberman-$2.1bn-Investment Myer-$2.01bn-Investment, retail, property Wilson-$1.83bn-Retail New South Wales 23 Victoria 16 Queensland 10 Western Australia 3 South Australia 3 Northern Territory 1 Overseas 1