Gina Rinehart no Longer Wealthiest Australian

Iron ore billionaire - Gina Rinehart

For a period of five years Gina Rinehart, the iron-ore tycoon, sat atop Australia’s richest charts, however she has now been dethroned – by another woman.  

In their latest report on Australia’s richest people «Forbes» noted Gina Rinehart's wealth has fallen by $ 3.2 billion to $ 8.5 billion over the past year as the double whammy of falling iron ore prices and a legal ruling which impacted her shareholding in Hancock Prospecting, took their significant toll.

Taking over the position as Australia’s richest person is American heiress Blair Parry-Okeden, a longtime resident of Australia whose ex-husband is Australian, with an $8.8 billion fortune.

Inherited wealth

Blair Parry-Okeden, grew up in Hawaii and moved to Australia several decades ago. Following her mother's death, she inherited a quarter of American media conglomerate Cox Enterprises.

The residential property magnate Harry Triguboff ranks number three on this year's list, with his net worth coming in at $6.9 billion.

Among those dropping out of the list were Swiss based commodities investor Ivan Glasenberg.

The Top Ten Wealthiest Australians

1. Blair Parry-Okeden, $US 8.8 billion

2. Gina Rinehart, $US 8.5 billion

3. Harry Triguboff, $US 6.9 billion

4. Frank Lowy, $US 5 billion

5. Anthony Pratt, $US 3.6 billion

6. James Packer, $US 3.5 billion

7. John Gandel, $US 3.2 billion

8. Lindsay Fox, $US 2.8 billion

9. David Teoh, $US 1.95 billion

10. David Hains, $US 1.9 billion

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