Billionaire Rinehart Is World’s Richest Woman, BRW Says

Australian mining magnate Gina Rinehart became the world’s richest woman as her fortune almost tripled to A$29.2 billion ($28.6 billion), according to a ranking of the nation’s wealthiest people by BRW magazine. Rinehart, who controls Hancock Prospecting Pty Ltd., soared past Wal-Mart Stores Inc. (WMT)’s Christy Walton, whose wealth is estimated at A$26 billion, BRW said in a statement today. The 58-year-old Australian, who had a fortune of A$10.3 billion last year, remained at the top of the list of Australia’s 200 wealthiest people for the second consecutive year, helped by foreign investment in new projects, increased production and a recovery in iron-ore prices, BRW said. Rinehart is ranked the 31st richest person in the world, with a net worth of $18.1 billion, according to the Bloomberg Billionaires Index.