24 May 2012

Rinehart richest woman in the world

12:52 pm on 24 May 2012

Australian mining magnate Gina Rinehart has been named as the richest woman in the world.

The latest BRW Magazine Rich List says Ms Rinehart's $A29 billion mining fortune has ballooned by an unparalleled $A18.87 billion in the past year.

That equates to $A1,077,054 every 30 minutes of every day.

BRW said the money is from foreign investment in new projects, increased production and a recovery in the iron ore price over the past six months.

The title of richest person in the world is currently held by Mexican telecommunications mogul Carlos Slim Helu, with $US69 billion.

The ABC reports Ms Rinehart's net wealth was estimated at $A75 million when she made her debut on the Rich List after her father's death in 1992. Now she is worth 386 times as much.