INTERNATIONAL COAL NEWS

Rinehart's fortune takes a hit

MINING tycoon Gina Rinehart has managed to just hang on to a ranking among the world's 40 wealthi...

Lauren Barrett

This article is 13 years old. Images might not display.

According to the Bloomberg Billionaires Index – a daily ranking of the 100 wealthiest individuals on the planet – the world’s richest people added $US241 billion ($A229.4 billion) to their collective worth.

According to the index, Rinehart’s fortune as of December 31 totalled $18.7 billion, placing her in the 39th spot.

Rinehart’s fortune has slipped since Bloomberg’ inaugural list of the world’s richest people last year.

On October 5, Rinehart was worth $19.1 billion, making her the 36th richest person.

Her fortune at the time was down 5.4% year-on-year, equating to $1.1 billion.

Bloomberg did not give a reason for Rinehart’s latest dip in riches. But Australia’s richest person may have fallen victim to last year’s dip in the iron ore price, while her investment in Fairfax proved unrewarding.

Rinehart owns stakes in some of the biggest coal and iron ore projects in the country, through Hancock Prospecting.

Rinehart’s Hancock Prospecting owns 70% of the massive Roy Hill iron ore project, but has yet to gain financing for its development.

Bloomberg reported that the aggregate net worth of the world’s richest totalled $1.9 million as of December 31.

Others to make the list were Bill Gates at No.2, with a $63.4 billion fortune, while Asia's richest man, Li Ka-shing, took 10th spot with $29 billion.

TOPICS:

Expert-led Insights reports built on robust data, rigorous analysis and expert commentary covering mining Exploration, Future Fleets, Automation and Digitalisation, and ESG.

Expert-led Insights reports built on robust data, rigorous analysis and expert commentary covering mining Exploration, Future Fleets, Automation and Digitalisation, and ESG.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Automation and Digitalisation Insights 2025

Discover how mining companies and investors are adopting, deploying and evaluating new technologies.

editions

Mining IQ Exploration Insights 2025

Gain exclusive insights into the world of exploration in a comprehensive review of the top trending technologies, intercepts, discoveries and more.

editions

Future Fleets Insights 2025

Mining IQ Future Fleets Insights 2025 looks at how companies are using alternative energy sources to cut greenhouse gas emmissions