A former Queensland electrician with a passion for horseracing has surged to the top of the BRW Young Rich list, with an estimated wealth of $441 million.

Nathan Tinkler, 32, has knocked off Sydney-based property developer Shaun Bonett to top the list of Australians aged under 40 who have self-made fortunes of more than $20 million.

Bonett, 37, who has $340 million in assets, slips to sixth place on this year’s list compiled by Business Review Weekly (BRW).

There are 25 new names in the Top 100, with notable debutants including motocross star Chad Reed (No.83, $25 million) and F1 driver Mark Webber (No.93, $23 million).

There are just 14 women on the list, down from 18 last year, including pop princess Kylie Minogue (No.23, $84 million) and actress Cate Blanchett (No.41, $48 million).

BRW reporter Georgina Dent said the number of new entries was interesting, including many who jumped straight onto the list’s upper rungs, headed by Mr Tinkler.

“He’s actually a former mining electrician who purchased a coal mine in 2006 for around $30 million,” Dent said of the coal-powered rise to the top.

“He then sold it back to Macarthur Coal for $275 million, for a combination of cash and shares.

“He sold those shares at the beginning of this year and walked away with $441 million.”

Tinkler is now indulging his passion of horseracing and has been snapping up horses, stables and studs across Australia and New Zealand.

Second on the list is 38-year-old London-based hedge fund manager Hilton Nathanson ($385 million), another first-timer.

The reclusive Grinham brothers, Angus and Richard, share third spot with a combined $368 million from their portfolio management, followed by Adelaide property developer Ross Makris ($350 million) who remains in fifth place.

The full list will be published in the latest edition of BRW.