Published On: Fri, May 25th, 2012

Gina Rinehart is World’s Richest Woman, BRW says

Gina Rinehart, Australia‘s richest person, has been named as the world’s richest woman, whose personal wealth reportedly has reached A$29.2 billion ($28.4 billion) this year, and had a fortune of A$10.3 billion ($10.05 billion) last year.

According to a report by Australian business news magazine Business Review Weekly (BRW) on its official website on Wednesday, May 23, 2012, Australian mining magnate Gina Rinehart topped the BRW Rich 200 list and surpassed Wal-Mart heiress Christy Walton.

As noted at BRW.com.au, Rinehart was the first Australian billionaire who had a wealth of more than $10 billion last year and is now richer than Walton, who had a net worth of $25.3 billion based on Forbes’ world’s richest woman list last March.

Gina Rinehart

“If the demand for natural resources remains strong, additional multi-billion mines are almost inevitable. There is a real possibility that Rinehart will become not just the richest woman in the world but the richest person in the world.” BRW Rich List editor Andrew Heathcote was quoted in a statement.

Rinehart, 58, who also landed as 31st richest person in the world this year in the list of BRW, is the heiress of Hancock Prospecting and the daughter of the late mining magnate Lang Hancock and Hope Margaret Nicholas. In the 2010s, Rinehart diversified her business interests to include media organisations, becoming the largest shareholder in Fairfax Media and acquiring a significant stake in Ten Network Holdings.

Following the death of her father in March 1992, Rinehart became Executive Chairman of Hancock Prospecting Pty Limited (HPPL) and the HPPL Group of companies. All companies within the group are privately owned.

Recent years has seen Rinehart focus on developing Hancock Prospecting’s undeveloped deposits, raising capital through joint venture partnerships and turning reserves into revenue producing mines.

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  1. Wow. Save for the pearls, she looks like a simple, middle-class woman.

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