Gina Rinehart's $10.3 billion mining fortune has propelled her into the position of Australia's wealthiest person, taking the crown from Frank Lowy who topped last year's BRW Rich 200.

Not only is she the first woman in the list's 28-year history to lead it, but she also made the biggest fortune ever to be recorded by the BRW Rich 200, with her wealth more than doubling from $4.75 billion last year.

Top of the pile ... Gina Rinehart.

"This is the first time anyone has cracked $10 billion," said BRW Rich 200 editor, Andrew Heathcote.

"The resources boom has been very fortuitous for her but it has also been due to some very smart decisions along the way and, because of her genuine business smarts, she has done better than any other resource magnate in the country."