Rinehart, Forrest top Rich List solidified by iron ore

An iron ore boom has seen Gina Rinehart and Andrew Forrest maintain the top two spots on the 2021 Financial Review Rich List with a combined $58.3 billion.

Rinehart saw a six-month increase of $2.16 billion bring her worth to $31.06 billion, while Forrest jumped over $4 billion to sit at $27.25 billion.

The next wealthiest resources magnate was Clive Palmer with $13 billion at rank seven, as resources (mostly iron ore), retail and property were the wealthiest sectors this year.

Rinehart’s 7.5 per cent increase (year on year) was measly compared to Palmer’s, who jumped 41.7 per cent.

The biggest jumps in the top 10 however were owners of graphic design software Canva, Melanie Perkins and Cliff Obrecht, who gained 132 per cent to almost $8 billion.

The addition of Perkins (the list’s youngest person) was the first time two women had featured in the top 10 since 2016.

Rich List co-editor Julie-anne Sprague said strong commodity performance had allowed the Rineharts to gain a considerable amount over the past year.

“The commodities boom is fuelling extraordinary wealth generation among our rich listers,” she said.

“Collectively the Rinehart family is worth $40 billion, twice the amount of the next richest family on the list, the Pratts”.

Complementing Gina’s $31 billion was her oldest son John Hancock ($2.4 billion), eldest daughter Bianca ($2.31 billion), youngest daughter Ginia ($2.31 billion) and daughter of Gina and Frank Rinehart, Hope Rinehart Welker ($2.31 billion).

The top 200 rich listers were worth a combined $479.6 billion – up from last year’s $424.6 billion. This totalled a quarter of Australia’s gross domestic product.

Of the top 200, 39 were women, up from 31 for an increase of 18 per cent.

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