In news that I’m absolutely sure is going to please each and every one of you, Gina Rinehart has managed to pick herself back up off the canvas and rise back up to once again become Australia’s Richest Person. Rejoice.
Forbes has compiled its list of Australia’s 50 Richest People for 2017, and the mining magnate has once again ascended to the top of the mountain, which she no doubt plans to frack.
Rinehart’s fortunes took a tumble in recent years thanks to a downturn in the price of iron ore, but a rebound in global market prices has seen her personal wealth shoot back skyward, with her total fortune now sitting at US$16.6billion (around AUD$21.5billion). That number represents a growth of US$8.1billion over the past twelve months, almost doubling her previous total of US$8.5billion.
It’s great, actually. To me, it’s a good thing. Really, really, just… just bloody great, this is. Wonderful.
The Rinehart family’s fortunes don’t end there, either. Gina’s daughter Bianca Rinehart and her three siblings gained control of the Hope Margaret Hancock Trust via court order in 2015, an organisation that owns some 23.4% of Hancock Prospecting. Thanks to the aforementioned bounce in iron ore prices, that stake in the company is now worth US$5billion, which is enough to put the Rinehart siblings on the rich list in their own right, coming it at fifth.
It’s so good. It’s just a… just the most terrific thing.
As for the rest of the top ten it’s a motley crew of the usual faces. Real estate mogul Harry Triguboff remains in second position on the list with a wealth of US$9.9billion, while Atlassian co-founders Scott Farquhar and Mike Cannon-Brookes – who collectively topped the BRW Young Rich List for the umpteenth year in a row – sneak into the top ten this year with a cool US$3.4billion each to their names.
Peep the full top ten below.
FORBES AUSTRALIA RICH LIST 2017 TOP TEN
1. Gina Rinehart (mining) – US$16.6billion
2. Harry Triguboff (real estate) – US$9.9billion
3. Anthony Pratt (manufacturing) – US$5.8billion
4. Frank Lowy (shopping malls) – US$5.7billion
5. Biana Rinehart & siblings (mining) – US$5billion
6. Andrew Forrest (mining) – US$4.4billion
7. John Gandel (shopping malls) – US$4.1billion
8. James Packer (casinos) – US$3.7billion
9. Lindsay Fox (logistics, real estate) – US$3.5billion
10 (tied). Mike Cannon-Brooks (software) – US$3.4billion
10 (tied). Scott Farquhar (software) – US$3.4billion
You can check out the entire top 50 list via this link.