After a seven-year reign by Waltmart heiress, Christy Walton, Forbes has named a new “World’s Richest Women” in Australian mining magnate Gina Rinehart.
The 58-year-old Rinehart’s net worth is A$29.2 billion which is equivalent to about $28.6 billion American and is about $4 billion more than Walton’s wealth, according to BRW.
Besides being named the richest female in the world, BRW says the sky is the limit for the woman who controls Hancock Prospecting Pty Ltd, which she inherited from her father Lang Hancock.
“If the demand for natural resources remains strong, additional multi-billion mines are almost inevitable,” Andrew Heathcote, BRW Rich List editor, said in the statement. “There is a real possibility that Rinehart will become not just the richest woman in the world but the richest person in the world.”
She currently is ranked 31st among the richest people in the world. Meanwhile, Carlos Slim of Mexico is ranked as the wealthiest person in the world with a net worth of $66.2 billion.
Worth only $10.3 billion about a year ago, Rinehart has been able to triple her fortune by closing lucrative deals on iron ore and coal resources.
However, with the wealth she has amassed, it has caused a rift in her family with 3 of her 4 children filing a suit to have her removed as a trustee from a trust with nearly $7 billion.