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With a net worth of $29.8 billion and $28.2 billion respectively, Walmart heiresses Alice Walton and Christy Walton have secured first and third place respectively among the world’s female billionaires list, according to new figures from Wealth-X.

Record performance from Walmart - the stock of which is trading at a 12-year high - has had a “dramatic effect” on the Walton fortunes, the global wealth intelligence firm said.

Positioned between the Waltons in second place is Australian mining magnate Gina Rinehart, whose fortune is valued at a net $29.1 billion. However media reports emerged earlier this year claiming that Asia's wealthiest woman is locked in a legal battle over the family trust and is being sued by three of her children.

In fourth place on Wealth-X's list is the French female behind L'Oreal, Liliane Bettencourt, whose net worth is at least $24 billion. Rounding out the top five of a list which runs to over 3,000, is Swedish-born but Swiss-based Birgit Rausing, with at least $13.8 billion - largely derived from her shareholdings in Tetra Laval, the packaging firm.

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