Mining magnate Gina Rinehart is Australia's richest person, after a recovery in iron ore prices boosted her estimated fortune to $US16.6 billion ($21.5 billion).
Ms Rinehart's wealth increased by $US8.1 billion, according to the 2017 Forbes Australia Rich List, from $US8.5 billion in 2016.
The list includes 50 people, who needed a minimum of $US700 million to be placed, up from $US500 million in 2016.
Property tycoon Harry Triguboff takes second spot, after his fortune rose by $US3 billion to $US9.9 billion.
Cardboard box king Anthony Pratt was third with a fortune of $US5.8 billion, up by $US2.2 billion.
The boss of iron ore miner Fortescue Mining, Andrew Forrest, enjoyed the biggest jump in wealth in percentage terms, with his fortune surging 255 per cent to $US4.4 billion and pushing him up 16 spots to sixth position.
Iron ore prices have jumped by $US20 since the publication of the 2016 Forbes Australia Rich List in early 2016, from $US42 a ton to around $US62.
"That $US20 jump makes a big difference for Rinehart as she sells close to 80 million tonnes a year through her major stakes in the Roy Hill and Hope Downs mines in Western Australia's remote Pilbara region," Forbes said on Wednesday.
Other mining billionaires to reap the benefits of the higher iron ore price were Seven Group Holdings' Kerry Stokes, at 14th spot with $US2.6 billion; and mining heiress Angela Bennett in 23rd position with $US1.7 billion.
Gina Rinehart's four children, including eldest daughter Bianca Rinehart, made the rich list for the first time, with a combined fortune of $US5 billion, which placed them as the fifth richest.
The top 10 richest in Australia:
- Gina Rinehart - $US16.6 billion
- Harry Triguboff - $US9.9b
- Anthony Pratt - $US5.8b
- Frank Lowy - $US5.7b
- Bianca Rinehart & siblings - $US5b
- Andrew Forrest - $US4.4b
- John Gandel - $US4.1b
- James Packer - $US3.7b
- Lindsay Fox - $US3.5b
- Mike Cannon-Brookes $US3.4b, and Scott Farquhar $US3.4b
This story first appeared on The Sydney Morning Herald.