INQUIRER.net: Rinehart loses $7B but still Australia’s richest

INQUIRER.net Philippine News for Filipinos

Rinehart loses $7B but still Australia's richest May 22nd 2013, 22:55 SYDNEY—Mining magnate Gina Rinehart had Aus$7 billion (US$6.8 billion) wiped off her fortune in the past year but remains Australia's wealthiest person, an annual rich list showed Wednesday.   Rinehart, heiress to an iron ore prospecting empire built in Australia's resources-rich west, led the respected BRW Rich 200 list for a third year in a row with a personal fortune of Aus$22.02 billion.   But she also lost more money than anyone else thanks to plunging iron ore prices, giving up a quarter of her estimated wealth from last year of Aus$29.17 billion.   That means she lost more than Aus$19 million every day in the last 12 months, and takes her out... Keep on reading: Rinehart loses $7B but still Australia’s richest Media files: Gina-Rinehart.jpg (image/jpeg)

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