Gina Rinehart is not world's richest woman: Forbes

Mining billionaire Gina Rinehart has lost her mantle as the world's richest woman, with Forbes magazine listing her as the fifth-wealthiest woman on the United States magazine's latest list.

In May 2012, BRW magazine in Australia listed Mrs Rinehart as the world's richest woman with an estimated wealth of $29.17 billion, though the figure was disputed by some mining investors.

The Forbes list calculates her fortune as being worth $US17 billion ($A16 billion), putting her behind two members of the family that founded Walmart, as well as behind L'Oreal heiress Liliane Bettencourt, who was listed as the world's wealthiest woman with a fortune estimated at $US30 billion.

In addition, Mrs Rinehart is listed behind Chilean Iris Fontbona, whose husband helped found the Antofagasta copper mine, meaning Mrs Rinehart is also not the world's richest miner.

The findings by Forbes could prove right those who questioned BRW's methodologies, as Mrs Rinehart's wealth is closely tied to the price of iron ore, which is trading at about $US20 a tonne more than it was when BRW calculated her wealth in May 2012.

The Forbes list ranks Mrs Rinehart as the 36th-richest person in the world.

Casino mogul James Packer is listed as the world's 198th richest person, and Fortescue Metals founder Andrew Forrest is ranked 211th, The Australian reported.

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