leroy
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- Dec 8, 2010
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When she met the Queen and Prince Philip at a garden party in Western Australia late last year Gina Rinehart became a figure of fun when the Duke pointed to her large hat and said she might poke somebodys eye out with that thing.
But today its Mrs Rinehart who is laughing - all the way to the bank - after being named as the worlds richest woman with a fortune of more than £18 billion.
The daughter of the late Australian iron-ore mining magnate Lang Hangcock, 58-year old Mrs Rinehart has been given the richest woman title by the countrys Business Review Weekly magazine, putting her at the top of its Rich 200 list.
Mrs Rinehart has easily surprised Forbes calculation of the £16 billion estimation of Christy Walton, widow of John Walton and holder of a major stake in the American retail giant Wal-Mart.
In an extraordinary accumulation of riches from the mining industry, Mrs Rineharts wealth has grown by an unprecedented £11 billion this year alone.
She makes more than £630,000 every 30 minutes, say financial experts.
She can thank a recovery in the price of iron ore over the past six months and foreign investment in new projects.
Andrew Heathcote, the rich list editor, told Sydneys Daily Telegraph that if the demand for natural resources remains strong, additional multi-billion pound mines were almost inevitable.
There is a real possibility that Rinehart will become not just the richest woman in the world, but the richest person in the world.
To do that, she could have to climb past the £43 billion fortune of Mexican telecommunications mogul Carlos Slim Helu.
While she has received good news about her wealth, Mrs Rinehart has still had no satisfaction from an ongoing financial feud with her children.
Two months ago Australian High Court rejected her bid to supress details of the battle she is having with her children over a multi-billion pound family trust.
Her youngest child, Gina - who has stood by her mother in the family feud - accused her siblings of being motivated entirely by greed, saying they would regret putting money before family.
She added: Unfortunately, this realisation will come too late as the damage to our family and its good reputation will already have been done.
Read more: Gina Rinehart crowned world's richest woman | Mail Online
But today its Mrs Rinehart who is laughing - all the way to the bank - after being named as the worlds richest woman with a fortune of more than £18 billion.
Mrs Rinehart has easily surprised Forbes calculation of the £16 billion estimation of Christy Walton, widow of John Walton and holder of a major stake in the American retail giant Wal-Mart.
In an extraordinary accumulation of riches from the mining industry, Mrs Rineharts wealth has grown by an unprecedented £11 billion this year alone.
She makes more than £630,000 every 30 minutes, say financial experts.
She can thank a recovery in the price of iron ore over the past six months and foreign investment in new projects.
Andrew Heathcote, the rich list editor, told Sydneys Daily Telegraph that if the demand for natural resources remains strong, additional multi-billion pound mines were almost inevitable.
There is a real possibility that Rinehart will become not just the richest woman in the world, but the richest person in the world.
To do that, she could have to climb past the £43 billion fortune of Mexican telecommunications mogul Carlos Slim Helu.
While she has received good news about her wealth, Mrs Rinehart has still had no satisfaction from an ongoing financial feud with her children.
Two months ago Australian High Court rejected her bid to supress details of the battle she is having with her children over a multi-billion pound family trust.
Her youngest child, Gina - who has stood by her mother in the family feud - accused her siblings of being motivated entirely by greed, saying they would regret putting money before family.
She added: Unfortunately, this realisation will come too late as the damage to our family and its good reputation will already have been done.
Read more: Gina Rinehart crowned world's richest woman | Mail Online
