Gina Rinehart becomes the world’s richest woman

Gina Rinehart, an Australian mining magnate, has become the world’s richest woman, according to the country’s respected business magazine BRW.

The magazine says Gina Rinehart, 58, is now worth A$29 billion ($28 billion), having increased her wealth by nearly A$20 billion in a year.

It is now possible that she could become the world’s first $100 billion person, the magazine says.

It says the heiress to an iron-ore prospecting empire earns A$52 million a day, A$1 million every half hour or A$ 600 a second.

“The increase in her wealth is unparalleled. It is a product of foreign investment in new projects, increased production and a recovery in the iron-ore price over the past six months,” BRW wrote.

Gina Rinehart’s rise in wealth means she now surpasses the $25 billion of Christy Walton, the widow of the founder of America’s Wal-Mart retail chain.

However, Gina Rinehart has caused controversy by campaigning against government attempts to tax mining companies.

Gina Rinehart has also been involved in a nasty fight with three of her four children over control of the family trust.