Australia's Wealthiest Resident is an American

The richest person residing in Australia is an American heiress that you are most likely not familiar with. Ms Parry-Okeden, is an American heiress, who lives in the town of Scone, whose fortune is tied to her 25 per cent stake in Cox Enterprises, a giant US media company founded by her grandfather James Cox. The 58-year-old former school teacher, inherited the stake in Cox when her mother, Barbara Anthony Cox, died in 2007. Ms Parry-Okeden was shot to prominence yesterday after being named as the word's 110th richest person in the annual Forbes list of the world's billionaires. She has no involvement with running the company, which owns 15 newspapers, 17 television stations and 86 radio stations. Her place on the Forbes rich list has been raised 44 places - to 110 - by the decline in the wealth of Australia's previous richest person, the mining entrepreneur Andrew Forrest. The financial crisis has trimmed the ranks of Australian billionaires and more than halved their fortunes. Only but 10 Australians have made it onto the annual Forbes list of the world's US dollar billionaires, down from 14 last year. Overall, their total combined fortune has weakened from $US 38.4 billion ($60 billion) to just $US 16.2 billion.