Australian billionaire, mining magnate Gina Rinehart, has been named as one of the world's most influential people by Time magazine for 2013, local media reported Friday.

Rinehart is called the"Iron Woman" in the Time's annual list of the world's top 100 power players.

Her influence was noted in her strategic media investments in Channel Ten and Fairfax, along with her huge wealth of over 29 billion AU dollars (29.3 billion US dollars), according to the Australian media.

Along with American rapper Jay-Z, US President Barack Obama and Pope Francis, Rinehart is the only Australian to be featured in the list of Time's 100 most influential people in the world.