Gina Rinehart is now the world’s richest woman, says BRW Magazine. The Australian miner, worth nearly $30 billion, earns about $50 million a day.

Thanks to foreign investments in iron ore, its increased production and recovery, she earns more than the likes of Christy Walton (Wal-Mart) and Oprah Winfrey.

In an extraordinary accumulation of riches from the mining industry, Mrs Rinehart’s wealth has grown by an unprecedented $19 billion this year alone.

“There is a real possibility that Rinehart will become not just the richest woman in the world, but the richest person in the world,” said BRW Rich List editor Andrew Heathcote.