According to The Australian Financial Review (AFR) annual Rich List for 2020, coronavirus pandemic has not even slightly impacted on the wealth of the wealthy. In 2020, the elite list has soared, and the rich have gotten richer. "Ore-ligarchs" Gina Rinehart and Andrew Forrest topped the list with first and second spot respectively.
Who is Gina Rinehart, and why is she topping the rich person's list? 66-year-old, Gina Rinehart is Australia's richest citizen, residing in Perth. She's an Executive Chairman of privately-owned Hancock Prospecting which owns mining and agricultural businesses in Australia. She inherited the business from her father Lang Hancock, who was a high-profile iron-ore explorer. Gina took over her father's bankrupted estate and rebuilt it into an empire. The most significant chunk of her fortune is unearthing from the Roy Hill mining project which ships iron-ore in Asia.
* Will she remain the richest in 2021? The mining and agriculture mogul Gina Rinehart moved up one place from 2018 to being number two in 2019, and in 2020 she became the richest. While iron ore prices hit multi-year highs amid global supply constraints, it will be interesting to see if the mining magnate retains the crown in 2021 as well.