Gina Rinehart has snagged the title of being the richest woman in the Asia-Pacific region with her fortune doubling to $US18 billion, according to the latest list of wealthy Australians compiled by Forbes.
But the list has some surprises as well, with retail veteran Gerry Harvey losing his billionaire status, while Kerry Stokes dropped from 10th to 12th after his net wealth fell from $US1.9 billion to $US1.8 billion.
Harvey dropped in ranking due to a big fall in the value of Harvey Norman shares. He fell from $1.2 billion to $US900 million.
Rinehart’s jump in the ranks comes after the Korean steel company Posco purchased a large stake in Rinehart’s Roy Hill iron ore project, valuing the project at $10 billion.
Rinehart’s rise comes as she is attempting to increase her ownership in the media. In late 2010 she purchased 10% of Ten Network Holdings and she is now attempting to increase her ownership in Fairfax Media.
However, despite being the richest person in Australia, she’s not quite the richest person in the Asia-Pacific region just yet. That title goes to Indian Mukesh Amani, who controls the conglomerate Reliance Industries with a fortune of $US22.6 billion.
However, Rinehart is still moving up the ranks. Forbes notes that she may soon become the world’s richest woman, passing Christy Walton with her $US24.5 billion gained through the Wal-Mart empire of retail stores.
Second on the list of wealthy Australians was Glencore International chief Ivan Glasenberg with $US7.2 billion, with Fortescue Metals founder Andrew Forrest third at $US5.3 billion.
James Packer was fourth with a fortune of $4.5 billion, while shopping centre magnate Frank Lowy was fifth with $4.4 billion.
The top 10 ($US billion)
1. Gina Rinehart 18.00
2. Ivan Glasenberg 7.20
3. Andrew Forrest 5.30
4. James Packer 4.50
5. Frank Lowy 4.40
6. Harry Triguboff 4.00
7. Anthony Pratt 3.40
8. John Gandel 3.20
9. Angela Bennett & Michael Wright 2.30
10. Kerr Neilson 2.10
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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