Retail property doyen John Gandel was one of several business leaders made a Companion in the Order of Australia.

Mr Gandel, who was ranked seventh of the Financial Review's Rich List with a wealth of about $6.1 billion, has built a business empire that includes Australia's biggest shopping centre - Chadstone in Melbourne's south-east.

He was recognised for his support of a range of arts and cultural institutions, youth education, medical and biotechnology innovation programs, contributions to business and to the advancement of philanthropic giving.

The 82-year-old has been a major donor to the National Gallery of Australia, has supported the Jewish Museum of Australia since the 1980s and has an association with the Victorian Arts Centre since 1991.

He has also served several health organisations.

???BHP Billiton chairman Jac Nasser also picked up a top gong for "eminent service to business and international commerce in the mining and manufacturing sectors" as well as policy work and philanthropy.

Mr Nasser was born in Lebanon and emigrated to Australia with his family at the age of four.

"I am incredibly proud to receive this honour," Mr Nasser said."Australia has given me enormous opportunity and I have been fortunate to build a career doing things I love."

As well as serving on BHP's board, Mr Nasser has a long history operating at the top levels of commerce including several directorships and running the Ford Motor Co as chief executive.

"There are very few places in the world where a kid from the northern suburbs [of Melbourne] could have the education and the opportunity to rise through the ranks of companies that are players on the world stage," he said.

"I am proud of the contribution the organisations, in which I have been involved, have made to Australia and the world."

Mr Nasser has established several scholarships and been a member of the P???rime Minister's Business Advisory Council.

Manufacturing pioneer Michael Crouch - the man who built the Zip water heating business after buying it in the early 1960s - was recognised for his "philanthropic contributions to youth, cultural, medical research and healthcare organisations, to business in the areas of manufacturing and international trade, and as a supporter of innovation and higher education."

Mr Crouch has held national and global positions with the Duke of Edinburgh awards, held numerous board positions including as chairman of the University of Sydney's Brain and Mind Research Institute, honorary governor of the Thalidomide Foundations and chairman of the National Boer War Memorial Fund.

He has also been a driving force behind the Symphony of Australia and strong supporter of the Sydney Festival and the NSW State Library.

Mr Crouch established an innovation centre at the University of NSW, sits on the NSW Innovation and Productivity Council and was the Prime Minister's representative on the APEC Business Advisory Council from 1996 to 2007.

Among his proudest philanthropic achievements, Mr Crouch highlighted his support with the Duke of Edinburgh awards, teaching "self-sufficiency and independence" to young people, and his work with the State Library in supporting the establishment of galleries and digital collections.

"As an Australian you've got a sense of responsibility to the community, we've always had that and it's very important," Mr Crouch said. "We have to remember that some three-quarters of our population came here in the last 70 years since 1950 and we need to communicate the spirit of Australia to them. The library is very important for that because it has the history, so to be able to support the library is of immense benefit to the future of Australia."

Mr Crouch said Zip was an innovative company that led the world in its product and technology and he established the innovation centre to push the idea never to accept the status quo because there's always a better way to do things.

Qantas boss Alan Joyce was also recognised for his service to promoting diversity and services to business.

Peter Gago rounds out the AC winners from the business community. He started work at Penfolds in 1989, graduating to chief winemaker in 2002, a position he still holds.

He was recognised for eminent service to the "Australian wine industry as an internationally acclaimed winemaker, to the global promotion of excellence in oenology, marketing and research, as a mentor, and to the community of South Australia".

A co-author on a series of books, Mr Gago has also won a series of awards.

Mr Gago emigrated to Australia when he was six from England and he said his career in the wine industry, despite no family background in wine, demonstrated Australia was truly a "land of opportunity".

He said the award was as much for the wine industry as himself, with Australia and Adelaide in particular now recognised globally for producing wine that was not just great to drink but also worth cellaring.

"It's one thing selling wine offshore, it's another thing building brands and letting people know Australia is a serious contender in the world of wine," he said.

Mr Gago said he would toast the honours in style. "We'll crack open the odd bottle of wine, and the odd bottle will be very special, I assure you," he said.