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| Gina Rinehart has had $7 billion wiped off her fortune but remains the country's wealthiest. Photo: AAP |
A bad year for resources has taken its toll on Australia’s wealthiest, with mining magnates copping it the worst.
According to the 2013 BRW Rich list, heiress Gina Rinehart has had more than $7 billion wiped off her personal fortune over the past 12 months but still retains the crown of Australia's richest person.
Ms Rinehart's losses amount to having whopping sums of money wiped off her wealth - $19,178,082 per day, $799,086 per hour, $13,318 per minute and if one really wants to dig down to the details - $221.96 per second.
However, while Ms Rinehart’s value is lower than the $29.17 billion she recorded last year, she still has over three times the wealth of her nearest competitor Frank Lowy, who recorded a $6.87 billion net worth from his retail empire Westfield Group.
The $7 billion drop also kicks Ms Rinehart off the title of the world’s richest woman, a spot she claimed in 2012 when she was worth a staggering $29.17 billion.
However, Ms Rinehart isn’t the worst hit among the miners. Nathan Tinkler did not even make the cut in the list despite being valued at $915 million a year ago and at $400 million in September when the BRW Young Rich was released.
James Packer has been revealed as Australia’s third wealthiest person, with a $6 billion fortune built on his gambling investments.
According to the 2013 BRW Rich list, heiress Gina Rinehart has had more than $7 billion wiped off her personal fortune over the past 12 months but still retains the crown of Australia's richest person.
Ms Rinehart's losses amount to having whopping sums of money wiped off her wealth - $19,178,082 per day, $799,086 per hour, $13,318 per minute and if one really wants to dig down to the details - $221.96 per second.
However, while Ms Rinehart’s value is lower than the $29.17 billion she recorded last year, she still has over three times the wealth of her nearest competitor Frank Lowy, who recorded a $6.87 billion net worth from his retail empire Westfield Group.
The $7 billion drop also kicks Ms Rinehart off the title of the world’s richest woman, a spot she claimed in 2012 when she was worth a staggering $29.17 billion.
However, Ms Rinehart isn’t the worst hit among the miners. Nathan Tinkler did not even make the cut in the list despite being valued at $915 million a year ago and at $400 million in September when the BRW Young Rich was released.
James Packer has been revealed as Australia’s third wealthiest person, with a $6 billion fortune built on his gambling investments.
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| Gallery: Australia's Richest People - 2013. Miners get hammered. |
The top five biggest falls were recorded in the mining sector where Fortescue Metals Group’s Andrew Forrest fell $2.23 billion to $3.66 billion.
Aspiring politician Clive Palmer's wealth is also down to $2.2 billion from $3.85 billion last year.
Strong equity markets gave a leg-up to some other well-known entrepreneurs, including Visy recycling group chairman Anthony Pratt. Ad boss John Singleton, fresh from a dispute with horse trainer Gai Waterhouse, is up $35 million on last year to $355 million.
There are 14 women in the top 200, down from 16 last year.
Therese Rein, the wife of former Prime Minister Kevin Rudd, dropped off the list after debuting last year.
http://au.finance.yahoo.com/news/brw-rich-list-2013--gina-rinehart-loses--7-billion--still-australia-s-richest-person-052658931.html
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