For the first time in a quarter of a century, no opposition figure appears on any of the three Australian Financial Review Magazine Power Lists, Overt, Covert or Cultural.
Prime Minister Anthony Albanese once again takes the top spot on the Overt Power list, but the panel of political, business and cultural insiders that compiles the lists could not find a place for one single Coalition, Greens, Teal, or crossbench politician.
The magazine’s gatefold cover features Albanese facing the camera surrounded by 28 newly elected Labor MPs and Senators, following the landslide election in May.
This year, Podcast Influencers feature in tenth place on the Overt list, highlighting the growing clout of the format.
Albanese appeared twice this year on SCA’s Happy Hour with Lucy & Nikki, who were photographed for this issue. The hosts, finalists in this year’s Mediaweek Next of the Best Awards, persuaded the Prime Minster to use the words “delulu with no solulu” in Parliament.
Happy Hour with Lucy & Nikki
“The power of Albanese in 2025 is as close to absolute as is feasible under Australia’s constitution,” said AFR Magazine editor Matthew Drummond.
“In the view of several members of the Power panel, he’s the most powerful prime minister since John Howard.
“That said, there’s a brittleness beneath this power base with Labor’s share of the primary vote at record lows and wars in Ukraine and Gaza, and an unpredictable United States, destabilising the government.”
The AFR panel who decide the Power Lists is yet to be revealed.
Who’s on the Overt list?
Following Albanese, Jim Chalmers and Penny Wong, Labor’s union base is represented by Sally McManus, who moves to fourth place and is described as the most powerful non-government figure in Australia.
Business is represented only once, with Commonwealth Bank CEO Matt Comyn, recognised for his persuasive voice in Canberra.
Who’s on the Covert list?
The Covert Power list is similarly stacked with Labor strategists and senior bureaucrats. Paul Erickson, Labor Party National Secretary, tops the list for the first time, replacing long-time powerbroker Don Farrell. Senior public service figures Steven Kennedy and Jenny Wilkinson also make the cut, alongside Future Fund chair Greg Combet and AustralianSuper chief Paul Schroder.
Who’s on the Culture list?
Leading the list is RecipeTin Eats founder Nagi Maehashi, whose budget-friendly recipes and SEO mastery give her unique reach. Her year has not been without drama however, after a well-ublicised stoush with Brooke Bellamy over copying her recipes.
RecipeTin Eats founder Nagi Maehashi
She is followed by Formula One driver Oscar Piastri, eSafety Commissioner Julie Inman Grant, Nicole Kidman, Jo Horgan of Mecca, and the DJ Dom Dolla.
The full AFR Power Lists
OVERT LIST
Prime Minister, Anthony Albanese
Federal Treasurer, Jim Chalmers
Foreign Minister, Penny Wong
ACTU Secretary, Sally McManus
Reserve Bank Governor, Michele Bullock
Defence Minister, Richard Marles
Health and Disability Minister, Mark Butler
Commonwealth Bank CEO, Matt Comyn
Western Australia Premier, Roger Cook
The Podcast Influencers
COVERT LIST
ALP National Secretary, Paul Erickson
Trade and Tourism Minister, Don Farrell
Finance Minister, Katy Gallagher
Home Affairs Minister, Tony Burke
Prime Minister’s Chief of Staff, Tim Gartrell
Department of the PM and Cabinet, Steven Kennedy
Chairman of the Future Fund, Greg Combet
Policy Head, Prime Minister’s Office, Sam Trobe
Chief Executive AustralianSuper, Paul Schroder
Treasury Secretary, Jenny Wilkinson
CULTURAL LIST
Founder of RecipeTin Eats, Nagi Maehashi
Formula One Driver, Oscar Piastri
eSafety Commissioner, Julie Inman Grant
Actor and Producer, Nicole Kidman
Artist and Curator, Khaled Sabsabi & Michael Dagostino
Theatre Director, Kip Williams
Founder of Mecca, Jo Horgan
Music Producer & DJ, Dom Dolla
CEO Racing NSW, Chairman of Australian Rugby League Commission, Peter V’landys
Athlete, Gout Gout
The Australian Financial Review Magazine Power Issue is available nationally on Friday, September 26 and online at afr.com