Gina Rinehart is worlds richest woman

Australian mining magnate Gina Rinehart became the world’s richest woman as her fortune almost tripled to A$29.2 billion ($28.6 billion), according to a ranking of the nation’s wealthiest people by BRW magazine. Rinehart, who controls Hancock Prospecting Pty Ltd.,leads Wal-Mart Stores Inc. (WMT)’s Christy Walton, whose wealth is estimated at A$26 billion, BRW said in a statement today. The 58-year-old Australian, who had a fortune of A$10.3 billion last year, remained at the top of the list of Australia’s 200 wealthiest people for the second consecutive year. Rinehart is ranked the 31st richest person in the world, with a net worth of $18.1 billion, according to the Bloomberg Billionaires Index.. Walton has held the top spot on Forbes' list for the past seven years. The mining magnate has grown her wealth by an unparalleled $18.8 billion this year even as the feud with her three eldest children continues to play out in court. BRW Rich List editor Andrew Heathcote said Ms Rinehart was a contender for the world’s richest person. To do this she would have to pass the $69 billion fortune of Mexican telecommunications mogul Carlos Slim Helu. A recovery in the iron ore price in the past six months and foreign investment in new projects has driven her growth and Heathcote said a $100 billion fortune within years was not out of the question. “If the demand for natural resources remains strong, additional multi-billion mines are almost inevitable,” he said. “There is a real possibility that Rinehart will become not just the richest woman in the world but the richest person in the world.”