Gina Rinehart: Australia’s richest woman

Gina Rinehart inherited a debt-ridden mining company in western Australia and turned it into a multi-billion dollar concern. And if the commodities boom continues, she could become the richest person in the world.

Nearly 20 years ago, a young Australian widow inherited a debt-ridden mining company from her father, says The Times. Today, Gina Rinehart, 57, is the richest person in Australia "and predicted to become the wealthiest in the world". Thanks to the commodities boom, she has seen her fortune more than double to A$10.3bn in the past year and according to Citigroup is now on course to overtake the Mexican magnate Carlos Slim's $46bn stash.

That calculation based on what Rinehart would be worth if her interests were publicly listed (see below) may well turn out to be just a punt. Even so, the extent of Rinehart's wealth has surprised all but her closest peers in the mining industry. "In her few public appearances, she resembles a well-heeled rancher's wife more than a fabulously wealthy businesswoman." Last year, Rinehart turned up at a rally in Perth against prime minister Julia Gillard's proposed mining tax, clambering on the back of a lorry with a loudspeaker and screaming "axe the tax". The only clue she was anything more than a raucous protestor were "the huge pearls around her neck".

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