Forbes has released its annual list of Australia’s richest people, with mining supremo Gina Rinehart doubling her fortune in the last 12 months to $18 billion.
Fellow mining magnate Andrew Forrest had his net worth slip from an estimated $6.9 billion in 2011 to $5.3 billion this year, due to falling iron ore prices, according to Forbes. The drop saw him slip from Australia’s second richest person to the number three spot.
Second place was taken out by Ivan Glasenberg, CEO of mining and commodities trading company Glencore. His personal net worth rose to $7.2 billion and saw him featured in the top 10 for the first time.
Casino and gaming entrepreneur James Packer saw his fortune rise to $4.5 billion, an increase of $100 million on last years list, but still slipped to fourth overall due to the surge by Glasenberg.
Co-founder of the Westfield shopping empire, Frank Lowy, came in at number five on the list, with a net worth of $4.4 billion. Coming in sixth behind Lowy was property developer Harry Trgiuboff, with the chairman of Meriton Apartments rising to $4 billion.
Paper and packaging mogul Anthony Pratt rose from $2.7 billion last year to $3.4 billion in 2012, which was good for seventh spot in Australia’s rich list, with John Gandel, brother-and-sister combo Angela Bennett and Michael Wright, and Kerr Neilson rounding out the top 10.
Australia’s richest people for 2012, according to Forbes:
- Gina Rinehart (mining) – $18 billion
- Ivan Glasenberg (commodities trading) – $7.2 billion
- Andrew Forrest (mining) – $5.3 billion
- James Packer (casinos) – $4.5 billion
- Frank Lowy (Westfield) – $4.4 billion
- Harry Triguboff (property) – $4 billion
- Anthony Pratt (packaging) – $3.4 billion
- John Gandel (retail) – $3.2 billion
- Angela Bennett & Michael Wright (mining) – $2.3 billion
- Kerr Neilson (asset management) – $2.3 billion