Gina Rinehart is no longer the richest person on Forbes Australia’s rich list

Jacob Joseph 29 January 2016

Gina Rinehart-450

Gina Rinehart has been dethroned as Australia's richest woman. She topped Forbes Australia’s rich list for the past five years, but this year her crown was passed to another woman.

Blair Parry-Okeden, an American-born Australian resident, now takes the title.

Parry-Okeden’s net worth is estimated to be $12.5 billion while Rinehart has a net worth of $12.1 billion. The reclusive Parry-Okeden spent her childhood in Hawaii and migrated to Australia many years ago. She moved to Australia because her ex-husband is from Australia. Parry-Okeden is an Australian citizen and lives in Scone, a rural village known for horse farms.

Following her mother’s death in 2007, Parry-Okeden received a quarter of Cox Enterprises, which is America’s third largest cable TV company.

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Rinehart’s wealth has fallen by $US 3.2 billion over the last year because iron ore prices fell and damaged the value of her shares in Hancock Prospecting.

Rinehart lost the most amount of money when it comes down to dollars, however, another iron ore magnate Andrew Forrest, took a dive and his wealth took the highest percentage drop falling 41%. This setback sent him down 12 spots on the rich list to number 22.

Top 10 richest Australians (Net worth):

  1. Blair Parry-Okeden ($AU 12.40 billion)
  2. Gina Rinehart ($AU 11.97 billion)
  3. Harry Triguboff ($AU 9.72 billion)
  4. Frank Lowy ($AU 7.04 billion)
  5. Anthony Pratt ($AU 5.07 billion)
  1. James Packer ($AU 4.93 billion)
  2. John Gandel ($AU 4.51 billion)
  3. Lindsay Fox ($AU 3.94 billion)
  4. David Teoh ($AU 2.75 billion)
  5. David Hains ($AU 2.68 billion)

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