by Chi Ibe
58 years old Gina Rinehart has become the world’s richest woman. What does she do? She’s into mining and earns more than £1m an hour. What does she mine? Iron Ore, a mineral we have a great amount of in Nigeria. What do we do with ours then? Biko, don’t ask.
Rinehart has now pushed Walmart heiress Christy Walton to second place and has taken the title as the world’s wealthiest female, Australian business magazine BRW, reports.
Rinehart’s personal wealth increased last year to £18 billion.
Rinehart, who is described as an intensely private businesswoman, is said to have made her money through Australia’s mining boom providing iron ore and coal to emerging markets such as China and BRW Rich List editor Andrew Heathcote said if the demand for natural resources remains strong, additional multi-billion mines are almost inevitable.
“There is a real possibility that Rinehart will become not just the richest woman in the world but the richest person in the world,” Heathcote said.
However, there is always a price to be paid. Sky News reports that her huge wealth has not made life completely stress free.
Three of Rinehart’s four children – John Hancock, Bianca Rinehart and Hope Welker – launched a lawsuit against their mother last September in a bid to oust her as trustee of the multi-billion-dollar family trust established by her late father Lang Hancock.
But, it’s worthy to note that unlike many wealthy heirs, Rinehart has not just maintained her fortune but multiplied it many times over. The first time she appeared on the rich list was in 1992 after her father’s death, then her net wealth was estimated at $75m aus.
Now she is worth 386 times that amount.
Source: Sky News