Gina Rinehart may be Australia's richest person and rank among the world's wealthiest but the iron ore billionaire has been snubbed by a new women-only rich list on the grounds that she inherited most of her fortune.
Mrs Rinehart will not appear in the inaugural BRW Rich Women list to be released today, which includes just two WA women: Rhonda Wyllie and Janet Holmes a Court.
Ms Wyllie's and Mrs Holmes a Court's wealth, estimated at $346 million and $80 million respectively, pales in comparison to Mrs Rinehart's multibillion-dollar fortune.
The snub is likely to irritate Mrs Rinehart, who dislikes the "iron ore heiress" tag and has previously taken exception to suggestions she inherited her considerable wealth from her father, the late Lang Hancock.
Instead, Mrs Rinehart's camp argues that although she inherited iron ore assets she was instrumental in the development of both the lucrative Hope Downs joint venture with Rio Tinto and the Roy Hill development. Mrs Rinehart was unable to be contacted yesterday.
The release of the BRW list comes just days after a rival list from Forbes ranked her as the 36th richest person in the world with a fortune of $US17 billion.
The BRW list, released ahead of International Women's Day tomorrow, was topped by technology entrepreneur Vicky Teoh with an estimated fortune of $390 million. Ms Wyllie was second on the list, followed by Patricia Ilhan ($320 million), the widow of phone entrepreneur "Crazy John" Ilhan, Hollywood actor Nicole Kidman ($320 million) and NSW property developer Charlotte Vidor ($250 million). Mrs Holmes a Court was ranked 12th.
According to BRW the list only includes "self-made" women, which is why Mrs Rinehart was excluded. James Packer did not make the magazine's Young Rich list for the same reason.
Ms Wyllie and other family members have controlled their flagship company, Wyllie Group, since the death of her husband in 2006.The family's property investments include the Perth Convention Exhibition Centre, Sorrento Quay at Hillarys Boat Harbour, St Georges Square and a large commercial complex in inner-city Melbourne. Mrs Holmes a Court, who chairs construction heavyweight John Holland, is a former science teacher who famously turned around the fortunes of her husband Robert's Heytesbury Holdings companies after his death.
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