The mining sector has once again left its mark on The Australian Financial Review’s 2025 Rich List, with several familiar names among Australia’s wealthiest.
Gina Rinehart remains at the top for the sixth year running, holding a fortune of $38.11 billion.
That’s a six per cent drop from last year, largely due to a downturn in iron ore prices that dented the valuation of her company, Hancock Prospecting.
Even so, Hancock remains Australia’s largest privately-owned mining business and a dominant force in the industry, generating $14.7 billion in revenue during the 2024 financial year, up from $13.2 billion the year before, with profits also climbing from $5 billion to $5.6 billion.
Roy Hill, Hancock’s flagship mine of which it owns 70 per cent, delivered record iron ore shipments last year.
Hancock made a number of strategic acquisitions in 2025 including a joint acquisition of lithium miner Azure Minerals with Chilean giant Sociedad Química y Minera de Chile.
Months earlier, it signed a deal to acquire two onshore gas projects from Mineral Resources, a transaction valued at up to $1.1 billion.
Former Glencore boss Ivan Glasenberg ranked eighth this year, with a personal wealth of $13.3 billion.
Glasenberg’s fortune remains closely tied to Glencore, the company he led as CEO from 2002 until his retirement in 2021.
In ninth place is Nicola Forrest, whose $12.83 billion fortune reflects a significant 24 per cent fall from the year prior.
Her rise in the rankings stems from her 2024 separation from Andrew Forrest, which saw her retain a larger stake in Fortescue Metals Group.
The former couple remain directors of their investment firm Tattarang.
With mining dynasties like Rinehart, Glasenberg and Forrest still commanding spots on the Rich List, the sector continues to shape Australia’s economic elite.
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