Gina Rinehart is Australia's richest woman with recovering iron ore prices boosting her fortune to $21.5 billion.

The mining magnate's net worth almost doubled from $11 billion last year, according to the 2017 Forbes Australia Rich List.

Mining magnate Gina Rinehart topped the 2017 Forbes Australia Rich List with $21.5 billion - double last year's fortune

The 63-year-old's fortune is almost entirely dependent on resources prices that soared to stratospheric heights during the mining boom before collapsing.

'High-rise Harry' Triguboff, 84, was in second with $12.86 billion, up $3.9 billion from last year, as Sydney's property boom drove up profits.

Cardboard king Anthony Pratt, 57, came in third with $7.5 billion, jumping $2.86 billion from the booming home delivery market spiking demand for boxes.

His wealth differed wildly from the AFR Rich List in May that put his net worth at $12.6 billion, making him Australia's richest ever person.

Forbes' figure for Ms Rinehart also drastically different from the other list which put her fortune at $10.41 billion - good enough for third place.

Next on the new list was Westfield boss Frank Lowy, 87, whose shopping centre fortune was worth $7.4 billion.

'High-rise Harry' Triguboff, 84, was in second with $12.86 billion, up $3.9 billion from last year, as Sydney's property boom drove up profits

Cardboard king Anthony Pratt, 57, came in third with $7.5 billion, jumping $2.86 billion from the booming home delivery market spiking demand for boxes

Ms Rinehart's daughters Bianca and Ginia Rinehart, John Hancock, and Hope Welker collectively came in at number five, sharing in $6.5 billion.

Their fortune is held in a trust from their grandfather Lang Hancock and is controlled by Bianca Rinehart as sole trustee after much legal wrangling.

The biggest mover on the list was Fortescue Metals boss Andrew 'Twiggy' Forrest, 55, whose fortune jumped 255 per cent to $5.7 billion.

Like Ms Rinehart, his rebounding wealth stemmed from recovery in iron ore prices, vaulting him from 22nd to sixth position on the rich list.

Fourth on the new list was Westfield boss Frank Lowy, 87, whose shopping centre fortune was worth $7.4 billion

Ms Rinehart's daughters Bianca (right) and Ginia Rinehart (left), John Hancock, and Hope Welker collectively came in at number five, sharing in $6.5 billion.

Iron ore prices rose $26 since the publication of the 2016 Forbes Australia Rich List in early 2016, now sitting at about $80.50.

'That $US20 jump makes a big difference for Rinehart as she sells close to 80 million tonnes a year through her major stakes in the Roy Hill and Hope Downs mines in Western Australia's remote Pilbara region,' Forbes said.

A notable omission from the list was Glencore chief Ivan Glasenberg who according to the AFR Rich List doubled his wealth to $6.85 billion.

The biggest mover on the list was Fortescue Metals boss Andrew 'Twiggy' Forrest, 55, whose fortune jumped 255 per cent to $5.7 billion

A notable omission from the list was Glencore chief Ivan Glasenberg who according to the AFR Rich List doubled his wealth to $6.85 billion

He was nowhere to be seen on the Forbes list, which included 50 Australians with a minimum net worth of $700 million - up from a $500 million threshold in 2016.

The youngest on the list were tech whiz-kids Scott Farquhar and Mike Cannon-Brookes, both 37, with $4.42 billion each.

Their software firm Atlassian this year started working with Tesla boss Elon Musk to build the world's biggest lithium-ion battery in South Australia.