Mining magnate Gina Rinehart has become the first woman to top the BRW Rich 200 in its 28-year history, after she increased her wealth from $4.75 billion to $10.3 billion last year.
Rinehart, who has prospered due to the increase in coal and iron ore prices, first appeared on the rich list in 1992, becoming a billionaire in 1996. She is followed on the list by Glencore’s Ivan Glasenberg, with a wealth of $8.8 billion, and Andrew Forrest, another miner, on $6.18 billion.
Government urged restraint on exec pay
The Government should avoid heavy regulations around executive pay, its corporate advisory body has urged.
A report from the Corporations and Markets Advisory Committee said that improved disclosure, such as the detailing of termination payments, was preferable to sweeping change to executive pay.
Zynga prepares for IPO: Reports
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Zynga could be the next big tech player to go public, according to reports in the US.
The company, which developed the highly-popular Facebook game Farmville, is understood to be preparing to file for an IPO as early as Friday.
Zynga’s last round of funding valued it at $10 billion, but it’s thought that the business will be priced much higher than this once it goes public.
The Dow Jones Industrial Average was up 38.45 points to 12,394.66 today. The Australian dollar dropped to 104.40 US cents.