Gina Rinehart the world’s richest woman

The BRW Rich List has named billionaire iron ore heiress Gina Rinehart the world's richest woman, and claims she's on track to soon become the richest in the world.

The Australian reports BRW Rich List editor Andrew Heathcote said Rinehart's wealth had almost tripled since last year and was set for more strong growth.

"If demand for natural resources remains strong, additional multi-billion mines are almost inevitable," he said.

"There's a real possibility that Rinehart will not just be the richest woman in the world but the richest person."

BRW said Rinehart's rising wealth was primarily due to the Roy Hill project in the Pilbara, which she sold 15 per cent to South Korean steel giant Posco for $1.6 billion earlier this year.

The Courier Mail reports that with assets worth around $29 billion, Rinehart is now far wealthier than most of Australia's richest.

Earlier this month a union-backed campaign released the Billionaire Wealth Calculator, which determines how long it takes mining magnates Gina Rinehart, Andrew Forrest, and Clive Palmer, to earn your annual salary.

Image: WA News

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