Oz’s Gina Rinehart becomes richest woman in world

Western Australian mining tycoon Gina Rinehart is now the richest woman in the world after her wealth touched a mind blowing 29.17 billion dollars in the past year.

Updated: May 23, 2012, 18:53 PM IST

Sydney: Western Australian mining tycoon Gina Rinehart is now the richest woman in the world after her wealth touched a mind blowing 29.17 billion dollars in the past year.

BRW has named Rinehart, who is the chairperson of Hancock Prospecting, at the top of its 2012 Rich List, which was announced on Tuesday, and also revealed that she is the wealthiest woman on the planet.

Rinehart has seen her wealth almost triple since last year, when she was valued at 10.3 billion dollars.

It’s also a momentous leap since March, when Forbes valued the businesswoman at 17.12 billion dollars, the Herald Sun reports.

BRW Rich List Editor Andrew Heathcote said the 18.87 billion dollars jump in 12 months was beyond compare.

“It is a product of foreign investment in new projects, increased production and recover in the iron ore price over the past six months,” said Heathcote.

ANI