Gina Rinehart has been knocked off the number one spot on the BRW’s Rich 200 list.
Rinehart, who has topped the list since 2011, has been replaced by Sydney apartment developer Harry Triguboff, whose wealth stands at a record $10.62 billion.
This is a massive fall for Rinehart – and the first in five years – from $14.02 billion last year (and $20.1 billion in 2014) down to $6.06 billion, and has seen her slip to fourth position, leapfrogged by manufacturer Anthony Pratt (at $10.35 billion) in second place, and Frank Lowy in third with $8.26 billion.
However, according to Forbes Rinehart’s current wealth as of today stands at US$9.8 billion, or AUD$13.59 billion, significantly changing her position on the BRW rankings.
She is also reportedly the seventh richest miner in the world, and the 127th richest person in the world.
According to the BRW, Rinehart remains Australia’s richest miner, followed by Fortescue’s Andrew ‘Twiggy’ Forrest at $3.33 billion (8th richest in Australia); Glencore’s Ivan Glasenberg also at $3.33 billion (9th richest in Australia); Kerry Stokes at $1.71 billion (25th richest in Australia); and Rinehart’s iron ore rival Angela Bennett at $1.61 billion (Australia’s 27th richest person).
While the volatile iron ore price played a major role in Rinehart’s shrinking fortunes, her daughter Bianca Rinehart’s acquisition of 23 per cent of Hancock Prospecting following a legal dispute – which propelled Bianca Rinehart onto the list at number 60 with a fortune of $905 million – also played a part.
Following these latest losses, Gina Rinehart also moves out of the top ten richest women in the world, now standing at 12th position.