Gina Rinehart has been named the richest woman in the world, and according to figures, she may be the richest person in the world very soon.
Rinehart has a fortune of $29.17 billion, which is no chump change. If that number isn't impressive, what is even more impressive is how quickly that number is growing. Last year Rinehart's fortune was valued at only $10 billion, almost $20 billion less according to BRW, an Australian business publication.
BRW announced its Rich 200 list on Thursday. Rinehart, 58, is a businesswoman in the mining industry and is also number one on the list as the richest person in Australia. Inheriting the business from her father, Lang Hancock, Rinehart diversified the business to include media organizations.
In March, Rinehart's estimated fortune was only at $17.12 billion according to Forbes magazine, which equates to a $18.87 billion jump. BRW Rich List editor Andrew Heathcote contributed the jump to the increased value of iron.
"It is a product of foreign investment in new projects, increased production and recover in the iron ore price over the past six months," he said.
Earning over $18 billion in 12 months, is the equivalent to earning $1,077,054 every 30 minutes of every day.
"If the demand for natural resources remains strong, additional multi-billion mines are almost inevitable," Andrew Heathcote added. "There is a real possibility that Rinehart will become not just the richest woman in the world, but the richest person in the world."
Rinehart has more than earned her own fortune, despite being a rather fortunate heir. After her father passed in 1992, Rinehart's fortune was estimated to be at $75 million meaning that she is worth nearly 386 times as much now.
The next richest woman in the world after Rinehart is Christy Walton, widow and heiress of the U.S. Wal-Mart empire. The richest person in the world at current is Mexican telecommunications mogul Carlos "Slim" Helu, who is estimated to be worth $69 billion.