Australian Billionaire Gina Rinehart is now the world’s richest woman

May 24th, 2012 - 7:24 pm ICT by Aishwarya Bhatt  

Sydney, May 24 (THAINDIAN NEWS) Gina Rinehart Australia’s richest woman, is now the world’s weathiest woman as well.

Rinehart has a personal fortune of 29.2 billion Australian dollars (28.5 billion US dollars). She is not officially wealthier than the American tycoon Christy Walton, the owner of Wal-Mart, who has a 25.3-billion-US-dollar fortune.

BRW Rich List editor, Andrew Heathcote stated that Rinehart may also become the wealthiest person in the world. She could reach a 100-billion-dollar fortune, due to the boom of resources. The world’s wealthy person is the Mexican telecommunications magnate Carlos Slim with a personal fortune that $66.2 billion.

Perth-born Rinehart’s strategic mergers and joint-ventures with enterprises like Hancock Prospecting Pty Ltd, have enabled Rinehart to double her money in just one year. She took charge of the family business in 1992.

Rinehart is now involved in a legal battle with her son John and two of his siblings over their inheritance rights. They attempt to take control of the family firm, as they claimed that Gina Rinehart has incurred into serious misconduct.

Ginia director of Hancock Prospecting and Gina Rinehart’s youngest daughter has supported her mother during this bitter legal battle.

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