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Gina Rinehart adds $US2.5bn to her fortune

Simone Ziaziaris  |  29 Dec 2017Text size  Decrease  Increase  |  
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SYDNEY - [AAP] Australian mining magnate Gina Rinehart has made $US2.5 billion ($A3.5 billion) in the past year, securing her spot in the top 100 richest people in the world.

The 63-year-old, worth $US14.9 billion, is the wealthiest Australian and the 85th richest person in the world, according to the most recent Bloomberg Billionaires Index.

The index shows that the world's 500 wealthiest people became $US1 trillion richer in 2017.

That's more than four times 2016's gain, as stock markets ignored economic, social and political divisions to reach all-time highs, Bloomberg said.

Among those sharing the 23 per cent annual increase are Amazon.com founder Jeff Bezos, who has knocked Microsoft founder and now leading philanthropist Bill Gates out of first place after his net worth rose $US34.7 billion to $US100 billion.

Mr Gates, who had held the spot as the world's richest man since May 2013, gained a mere $US9.17 billion in comparison, finishing up in second place with a net worth of $91.6 billion.

Business magnate Warren Buffett, the third richest, saw his pile rise by $US12.3 billion during the year, bringing his net worth to $US85.5 billion.

Amancio Ortega--the founder of Inditex fashion group known for its chain of Zara clothing stores--has secured fourth place and remains the wealthiest retailer in the world with a net worth $US75.7 billion following $US3.6 billion in earnings during the year.

He's closely followed by Snapchat founder Mark Zuckerberg, who is currently worth $US73.2 billion after adding $US23.3 billion.

Australian-born Rupert Murdoch, who renounced his Australian citizenship in 1985, is only a few spots behind Ms Rinehart, with a net worth of $US14.4 billion, while Westfield founder Frank Lowy is 346th on the list with $US5.44.

Mr Lowy, 87, could rise in the rankings in 2018 after the $US25 billion sale of his shopping centre empire completes late next year.

Property developer Harry Triguboff, commodities trader Ivan Glasenberg and packaging tycoon Anthony Pratt are also among the list of Australians named in the latest Bloomberg Billionaires Index.


* Gina Rinehart, at 85th spot, with $US14.9bn

* Harry Triguboff, 213th, with $US7.52bn

* Ivan Glasenberg, 256th, with $US6.42bn

* Anthony Pratt, 316th, with $US5.75bn

* Frank Lowy, 346th, with $US5.44bn


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