Norilsk Nickel backer Vladimir Potanin jumped 26 places up the 2015 list to 60th overall with a net worth of around $US15 billion, making him the richest Russian and richest mining tycoon overall.

Metalloinvest shareholder Alisher Usmanov was the second richest miner (71st overall) with a net worth of $14.5 billion, followed by Mexican German Larrea, who controls miner GrupoMexico and Antofagasta’s major shareholder, Chilean Iris Fontbona, who each have a net worth of $13.8 billion.

ArcellorMittal founder Lakshmi Mittal ($13.5 billion) slumped 30 places to 82 due to weaker iron ore and steel prices.

Perth’s Gina Rinehart was the seventh-richest in the mining sector and wealthiest Australian overall with a net worth of $12.3 billion, though the iron ore price crash saw her drop from 46th in 2014 to 94th overall this year.

Fortescue Metals Group founder Andrew Forrest was the world’s 23rd-richest mining billionaire with a net worth of $2.2 billion, though he fell from 270th spot in 2014 to 847th this year.

Other miners on the list included former De Beers controller Nicky Oppenheimer ($6.7 billion), Israeli diamond tycoon Beny Steinmetz, and Glencore chief Ivan Glasenberg ($5.1 billion).

The overall list included five billionaires who had made their wealth through Glencore, including Tor Peterson and Daniel Mate.

Microsoft founder Bill Gates was overall the world’s richest man with a net worth of $79.2 billion, followed by Mexico’s Carlos Slim ($77.2 billion) and US investor Warren Buffet ($72.7 billion).

Forbes reported a record 1826 billionaires this year – 1191 of who are self-made – with an aggregate net worth of $7.05 trillion, up from $6.4 trillion a year ago, and an average net worth of $3.86 billion, down $60 million.

The list included 290 new entries, 71 of who were from China, while a record 46 billionaires were 40 years old or less.