RICH PICKINGS: Gina loses ground

Falling iron ore prices suggest a more conservative reading of Gina Rinehart's wealth... In the very worst case, the magnate's fortune could have dropped as much as $9 billion.

But how might the value of Rinehart’s empire be impacted by the drop in iron ore prices?

To assess this, I’ve gone back and looked the valuation method BRW used in its $29 billion valuation in May – which was based on an iron ore price of $144.73 – and done some back-of-the-envelope valuations using an iron ore price of $US90 a tonne and $US83 a tonne.

Clearly, these are only very rough estimates. But they do suggest that more than $9 billion could have been shaved from Rinehart’s valuation.

Hamersley royalty

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles