Spare a thought for Gina Rinehart, everybody — she’s no longer Australia’s richest person.

After five years at the top of the Forbes rich list, the iron ore magnate has lost her crown.

Rinehart has taken a US$3.2 billion tumble, the largest drop in fortune of anyone on the list. Her disastrous year has been credited to the plummeting price of iron ore, as well as a legal ruling that reduced her stake in Hancock Prospecting.

So, who should you hit up for a loan instead? That’d be media mogul Blair Parry-Okeden, who topped the rich list for the first time with a net worth of $US8.8 billion.

If you haven’t heard of Parry-Okeden before, you’re not alone — she’s extremely reclusive, and although she’s been living here for decades, she only became an Australian citizen recently (meaning she hasn’t been eligible for the list until now). The media mogul, who was born in Hawaii, inherited a 25 per cent stake in Cox Enterprises, America’s third largest cable TV company, in 2007.

Not only was Rinehart replaced on the list by another woman, but eight woman made the top 50 in total — that’s double last year’s four.

Parry-Okeden is one of six new entrants in the top 50 this year. The others are Cotton On clothing chain founder Nigel Austin, vitamin mogul Marcus Blackmore, 7-Eleven billionaires Russ Withers and Beverly Barlow, and two who debut on the strength of splits — Judith Neilson, the ex-wife of investment guru Kerr Neilson, and Gretel Packer, whose brother James Packer divvied up the family wealth.

James Packer himself fell two spots this year, down to number six.

Sydney developer Harry Triguboff made the biggest gain of anyone on the list, as his fortune swelled by $US1.3 billion for the second year in a row.

Australia’s 10 richest people, according to Forbes

  1. Blair Parry-Okeden ($US8.8 billion)
  2. Gina Rinehart ($US8.5 billion)
  3. Harry Triguboff ($US6.9 billion)
  4. Frank Lowy ($US5 billion)
  5. Anthony Pratt ($US3.6 billion)
  6. James Packer ($US3.5 billion)
  7. John Gandel ($US3.2 billion)
  8. Lindsay Fox ($US2.8 billion)
  9. David Teoh ($US1.95 billion)
  10. David Hains ($US1.9 billion)

Will we see you on the list next year? Tell us your get-rich-quick scheme in the comments below!