Forbes Australia Rich List 2017: Gina Rinehart boosted into first place by iron ore price
MINING magnate Gina Rinehart is Australian rich-lister No. 1 with a bullet, her fortune almost doubling after a huge rebound in the iron ore price this year.
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MINING magnate Gina Rinehart is Australian rich-lister No. 1 with a bullet, her fortune almost doubling after a huge rebound in the iron ore price this year, with the surge also pushing her four children into the top 10 for the first time.
Bianca Rinehart, John Hancock, Ginia Rinehart and Hope Welker made it to fifth place on the 2017 Forbes Australia Rich List, with a combined wealth of $6.5 billion.
Just behind them was fellow WA miner, Fortescue Metals chairman Andrew “Twiggy” Forrest with the iron ore price pump leapfrogging him past 16 people to sixth place with $5.7 billion.
But Gina Rinehart was well ahead of the pack, her worth shooting up from $11 billion last year to a staggering $21.5 billion this year.
Since the list was published last year iron ore prices have surged 48 per cent from about $54 per tonne to $80 per tonne.
“That $US20 ($26) jump makes a big difference for Rinehart who sells close to 80 million tonnes of the stuff a year through major stakes in the Roy Hill and Hope Downs mines in Western Australia’s remote Pilbara region,” Forbes wrote on Wednesday.
And although real estate giant Meriton’s owner Harry Triguboff enjoyed a tidy $3.9 billion boost to his coffers, his was a very distant second place with a $12.8 billion worth.
Cardboard box king Anthony Pratt also enjoyed a bumper year, upping his wealth by $2.9 billion and putting him in third place with $7.5 billion, while Westfield mogul Frank Lowy was fourth with $7.4 billion.
The top 50 rich list includes seven women, among them James Packer’s sister Gretel, ranked 37th with $1.4 billion, and Anthony Pratt’s sister Heloise, sitting at 18 with $2.9 billion.
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