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As the price of lithium tripled, so did this billionaire’s wealth

The Australian-born, UK and US-educated entrepreneur has shot up more than 80 places on the 2026 Rich List, to be published in late May. 

Hannah Tattersall

Billionaire Nick Wakim is inherently confident by nature. It’s a trait that saw him through countless basketball, gridiron, wrestling and diving competitions while at school in Chicago. It saw him win multiple show jumping, puissance and cross-country horseriding events as a teen in England.

And, it saw him take an opposing stance against the investment bankers, analysts and advisers who said lithium was in the doldrums, while Wakim’s company Phoenix Lithium was quietly hitting $US5.5 billion ($7.8 billion) in value, and his own wealth tripled in the past year to almost $3 billion.

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