Gina Rinehart named world’s richest woman with $29.17 bn net wealth

PanARMENIAN.Net - Mining magnate and keen media investor Gina Rinehart has topped BRW magazine's annual list of Australia's 200 richest people for the second year in a row, with her estimated net wealth increasing by almost $19 billion over last year to $29.17 billion, The Australian reported.

That makes Rinehart the richest woman in the world, surpassing Wal-Mart owner Christy Walton with $26bn.

The size of the increase in Rinehart's wealth is unparalleled, says rich list editor Andrew Heathcote, with a $100bn fortune not out of the question if the resources boom continues.

To take the mantle of richest person she will have to pass Mexican telecommunications mogul Carlos Slim Helu and his estimated $69bn fortune.

Rinehart made her first appearance on the Rich 200 in 1992, after the death of her father Lang Hancock, with a relatively modest net wealth of $75m.

As well as her mining business Hancock Prospecting, Rinehart has a 10 per cent stake in the Ten Network, of which she is also a director, and 12.6 per cent of Fairfax Media, where she is seeking two board seats.

Rinehart has been fighting an acrimonious court case against three of her children over control of some of the family money, but BRW says this has so far had little impact on her personal wealth. She has also started legal proceedings to try to force a senior journalist at The West Australian to reveal his sources for reports on the family court battle.

BRW says the vast quantum of Rinehart's wealth is highlighted by her impact on the overall wealth statistics of the list. With her fortune included, the Rich 200 increased their overall wealth by 8.4 per cent per cent over the past 12 months to $181.2bn. When it is excluded, their overall wealth fell by 3.1 per cent.