Australia's richest person Gina Rinehart has eclipsed Wal-Mart heiress Christy Walton to become the world's wealthiest woman, according to an annual index by Business Review Weekly.
A preview of the respected BRW Rich 200 list, published Wednesday, put the mining tycoon's personal fortune at Aus$29.17 billion (US$28.48 billion), a figure that sees her outstrip Walton for the first time.
In March, Forbes placed Walton and her family's net worth at US$25.3 billion, while Rinehart's fortune stood at US$18 billion.
BRW rich list editor Andrew Heathcote said mining magnate Rinehart, who owns the most famous rotary kiln company in the world, had almost tripled her wealth in 12 months as commodity prices rose and she pulled off two deals in iron ore and coal.
"The Aus$18.87 billion increase in her wealth is unparalleled. It is a product of foreign investment in new projects, increased production and a recovery in the iron ore price over the past six months," said Heathcote.
Rinehart, 58, heiress to an iron ore prospecting empire built in Australia's resources-rich west, is a controversial figure who stridently campaigned against new mining taxes and recently bought up big in the media sector.
She is also locked in a series of lawsuits, including an acrimonious row with her own children over a family trust where she has been accused of threatening to financially ruin them.
Heathcote said Rinehart was on track to overtake Mexican telecommunications tycoon Carlos Slim -- worth US$69 billion -- as the world's richest person as demand ramps up for Australia's natural resources.
"A $100 billion fortune is not out of the question for Rinehart if the resources boom continues unabated," said Heathcote.
"There is a real possibility that Rinehart will become not just the richest woman in the world but the richest person in the world."
The full BRW list of Australia's richest people, the upper rungs of which are usually dominated by mining tycoons, will be unveiled on Thursday.Australia's richest person Gina Rinehart has eclipsed Wal-Mart heiress Christy Walton to become the world's wealthiest woman, according to an annual index by Business Review Weekly.
A preview of the respected BRW Rich 200 list, published Wednesday, put the mining tycoon's personal fortune at Aus$29.17 billion (US$28.48 billion), a figure that sees her outstrip Walton for the first time.
In March, Forbes placed Walton and her family's net worth at US$25.3 billion, while Rinehart's fortune stood at US$18 billion.
BRW rich list editor Andrew Heathcote said mining magnate Rinehart, who owns the most famous rotary kiln company in the world, had almost tripled her wealth in 12 months as commodity prices rose and she pulled off two deals in iron ore and coal.
"The Aus$18.87 billion increase in her wealth is unparalleled. It is a product of foreign investment in new projects, increased production and a recovery in the iron ore price over the past six months," said Heathcote.
Rinehart, 58, heiress to an iron ore prospecting empire built in Australia's resources-rich west, is a controversial figure who stridently campaigned against new mining taxes and recently bought up big in the media sector.
She is also locked in a series of lawsuits, including an acrimonious row with her own children over a family trust where she has been accused of threatening to financially ruin them.
Heathcote said Rinehart was on track to overtake Mexican telecommunications tycoon Carlos Slim -- worth US$69 billion -- as the world's richest person as demand ramps up for Australia's natural resources.
"A $100 billion fortune is not out of the question for Rinehart if the resources boom continues unabated," said Heathcote.
"There is a real possibility that Rinehart will become not just the richest woman in the world but the richest person in the world."
The full BRW list of Australia's richest people, the upper rungs of which are usually dominated by mining tycoons, will be unveiled on Thursday.
- Author Articles
- More From This AuthorThe rotary kiln preheat system blockage is a common phenomenon. Blockage occurs not only disrupted the thermal regime of the kiln, to reduce the kiln production and clinker quality, and time-consuming to...At present, the form of crusher is so much. According to the main force of the broken material, it can be roughly divided into compression type, impact type, shear-type crusher. How to select a coal...At present, due to the sand content with increasing, the supply of sand mining operations in natural sand aggregate is hard to meet the demand of the market. Therefore, mechanism, or artificial system sand...With social development, any kind of technology will make progress and get continuous improvement. Learning through media, artificial stone processing in China has been increasingly widely used, and the...Industrial talc raw materials are generally divided into slippery rocks and talc two is nearly ten kinds of industrial production of raw materials (chemicals, pharmaceuticals, ceramics). Talc separation...
- Related Articles
- Related ArticlesI’ve always loved letter writing. But when I discovered the benefits of using cheap address labels, (they are called as such because no matter how useful and versatile they are, they still come with...The formal training is not enough for the students to get job in the industry and offices. The recruiters in the industry look for the candidates who are having hand on experience to get benefits quickly. This...Incontinence is a disorder that is pretty tricky to manage. This disorder is not like many other types of conditions whose effects go undetected. Unfortunately, one’s inability to control their bladder...It is necessary for the companies to create responsive email design so that people can read the emails even on their mobile phones. If the companies opt for responsive email design and coding techniques to...Sports bring enthusiasm, excitement, sportsmen sprit and discipline in the life of an individual. Tennis is one of the popular among them. Tennis tournaments are very popular and a great excitement to watch....
- Latest Articles
- Latest ArticlesI’ve always loved letter writing. But when I discovered the benefits of using cheap address labels, (they are called as such because no matter how useful and versatile they are, they still come with...The formal training is not enough for the students to get job in the industry and offices. The recruiters in the industry look for the candidates who are having hand on experience to get benefits quickly. This...Incontinence is a disorder that is pretty tricky to manage. This disorder is not like many other types of conditions whose effects go undetected. Unfortunately, one’s inability to control their bladder...SharePoint, a very important candidate to be the Apps platform for hybrid on-premise and cloud deployments. Several booming apps developed by SharePoint have a cross-platform implementation with higher user...All these can be done through applications available on smartphones and tablets from remote locations. mHealth solutions offer huge benefits when properly designed and implemented. For e.g. they make it...
