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Woolworths and Coles will avoid any forced break-ups or substantial punishment as a result of the ACCC's months-long investigation into the $120bn grocery sector, despite the watchdog warning the two wield too much power and fit the definition of oligopoly.

Meanwhile, Microsoft chief executive Satya Nadella says Australia can be a credible global force in the artificial intelligence boom by focusing on its strengths in developing applications and operating data centres.

And Australia’s wealthiest new billionaire is a little-known Wall Street success story who loves his NRL Cronulla Sharks and spends weekends at his $240m Florida mansion near US President Donald Trump’s Mar-a-Lago private club. See who else made the cut in this year's The List: Australia's Richest 250 magazine, out today.