Rinehart topped the list once again, though her wealth fell by $A2 billion to $20 billion due to a fall in the iron ore price and price earnings ratios of key competitors.

But her wealth is tipped to rise next year when her 70%-owned Roy Hill iron ore project starts production.

South African-born, Swiss-based Australian citizen Ivan Glasenberg – who as Glencore CEO was in the country this week for the opening of the Ernest Henry expansion – was fifth on the list behind Anthony Pratt and family, James Packer and Frank Lowy with an estimated worth of $6.6 billion.

He was one of the lucky few whose wealth increased, thanks to his substantial stake in Glencore, which rose in value.

Fortescue Metals Group founder and chairman Andrew Forrest was the third-richest miner ($5.86 billion), followed by iron ore heiress Angela Bennett ($1.55 billion) and QCoal founder Christopher Wallin ($970 million).

There were 18 entries on this year’s list with resources as their primary source of wealth, with property continuing to be the dominant sector for rich listers.

Miner-turned-politician Clive Palmer made the list with an estimated worth of $1.2 billion, down $1 billion on last year.

Total wealth of the list rose by $16.8 billion to $193.6 billion, with the average wealth per person rising from $884 million to $968 million.

There were 39 billionaires on this year’s list – the most ever – and the cut-off was lifted to $250 million from $235 million last year.

Fourteen women made the list, the same as last year, while 20 rich listers live overseas.

New South Wales and Victoria had the highest number of entries with 62 and 63 respectively, followed by Queensland (29) and Western Australia (16).