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Gina Rinehart no longer Australia's richest person Gina Rinehart no longer Australia's richest person
(about 5 hours later)
Australian billionaire Gina Rinehart has lost her top spot on the Forbes Australia rich list.Australian billionaire Gina Rinehart has lost her top spot on the Forbes Australia rich list.
Ms Rinehart, an iron ore tycoon, had been named by Forbes magazine as the country's richest citizen for the past five years straight.Ms Rinehart, an iron ore tycoon, had been named by Forbes magazine as the country's richest citizen for the past five years straight.
But her fortune fell by A$4.5bn ($3.2bn; £2.25bn) in the last year, the sharpest drop on the list in dollar terms.But her fortune fell by A$4.5bn ($3.2bn; £2.25bn) in the last year, the sharpest drop on the list in dollar terms.
Australia's new richest person is US-born heiress Blair Parry-Okeden.Australia's new richest person is US-born heiress Blair Parry-Okeden.
Ms Rinehart still, however, has a net worth of $8.5bn.Ms Rinehart still, however, has a net worth of $8.5bn.
Media heiress new topMedia heiress new top
Ms Rinehart inherited mineral and exploration company Hancock Prospecting from her father, and is its chairperson.Ms Rinehart inherited mineral and exploration company Hancock Prospecting from her father, and is its chairperson.
Over the years she has been embroiled in several court battles to maintain a firm grip on her business empire.Over the years she has been embroiled in several court battles to maintain a firm grip on her business empire.
She was for a time the richest woman in the world.She was for a time the richest woman in the world.
Her fall from the top spot is attributed in part to a global drop in the price of iron ore.Her fall from the top spot is attributed in part to a global drop in the price of iron ore.
Ms Parry-Okeden, the American born heiress to US media company Cox Enterprises, moved to Australia decades ago with her former husband and has only recently been naturalised as Australian citizen.Ms Parry-Okeden, the American born heiress to US media company Cox Enterprises, moved to Australia decades ago with her former husband and has only recently been naturalised as Australian citizen.
Her wealth is quoted by Forbes magazine as $8.8bn.Her wealth is quoted by Forbes magazine as $8.8bn.
Property investor Harry Triguboff comes third on this year's Australian list, with a net worth of $6.9bn.Property investor Harry Triguboff comes third on this year's Australian list, with a net worth of $6.9bn.
Rising rents and continuing Chinese demand for his Sydney apartments helped drive up Mr Triguboff's fortune by $1.3 bn, Forbes says in its report.Rising rents and continuing Chinese demand for his Sydney apartments helped drive up Mr Triguboff's fortune by $1.3 bn, Forbes says in its report.
A total of eight women make the 2015 list, double last year's tally.A total of eight women make the 2015 list, double last year's tally.
Overall, 26 of the fortunes listed by Forbes fell compared to the previous year, because of the weaker Australian dollar.Overall, 26 of the fortunes listed by Forbes fell compared to the previous year, because of the weaker Australian dollar.
Biggest winner was Mike Cannon-Brooks, whose wealth jumped by 62% thanks to last years' stock market floatation of his software company Altassian. Biggest winner was Mike Cannon-Brookes, whose wealth jumped by 62% thanks to last years' stock market floatation of his software company Atlassian.
Thirty-six year old Mr Cannon-Brookes is the country's 17th richest person with $1.78bn.Thirty-six year old Mr Cannon-Brookes is the country's 17th richest person with $1.78bn.