Rinehart topped the Australian list after doubling her net worth to $US18 billion ($A16.88 billion) by selling a stake in her privately owned company’s Roy Hill iron ore mine in Western Australia.
According to Forbes, the Hancock Prospecting boss could be on her way to surpassing Wal-Mart heiress Christy Walton as the world’s richest woman. Walton has a net worth of $24.5 billion.
Australia’s second richest person was Glencore chief executive officer Ivan Glasenberg, who has a net worth of $7.2 billion after the Swiss company went public in 2011.
Switzerland-based, South African-born Glasenberg makes the list on a technicality – he became an Australian citizen in the 1980s during a stint with Glencore in Melbourne.
Fortescue Metals Group chairman and founder Andrew Forrest came in third with $5.3 billion followed by Consolidated Media and Crown casino group executive chairman James Packer and WestField chairman Frank Lowy.
Iron ore heirs Angela Bennett and Michael Wright come in ninth spot with a combined net worth of $2.3 billion generated from Hamersley iron ore royalties.
Coal magnate and youngest rich list entry Nathan Tinkler made his second appearance on the list in 26th spot with a net worth of $825 million, while WorleyParsons boss John Grill was close behind in 28th place with $800 million.
Self-professed billionaire Clive Palmer was in 29th place, with Forbes estimating his worth at $795 million.
This story first appeared on ILN's sister publication MiningNews.net.