Iris Fontbona: The $52.6 Billion Copper Queen Who Gained $24.5 Billion in a Single Year

Iris Fontbona added $24.5 billion to her fortune over the past year, reaching $52.6 billion as copper prices hit record highs. The Silicon Review profiles Chile's richest person and the widow behind Antofagasta's mining empire.

Iris Fontbona, Chile's richest person, added a staggering $24.5 billion to her fortune over the past year, lifting her net worth to $52.6 billion and making her one of the biggest gainers among the world's wealthiest women. The 83-year-old widow inherited a mining empire from her late husband Andrónico Luksic, who died in 2005, and has watched her wealth explode as copper prices soared to record levels.

The dramatic increase in Iris's net worth came as copper prices surged past $11,000 per metric ton on the London Metal Exchange, driven by supply disruptions from the closure of the Strait of Hormuz and rising demand for electric vehicle components and renewable energy infrastructure. Antofagasta, the London Stock Exchange-listed copper miner that forms the core of the Fontbona-Luksic family fortune, saw its share price climb 47% over the past year.

Unlike flashy billionaires who seek attention, Fontbona has remained notoriously private. She rarely gives interviews and stays far from the spotlight. Her wealth grows not because she seeks it, but because the world cannot function without copper the red metal that carries electricity through every wire, every charging station, every power grid on the planet.

The Fontbona-Luksic family owns approximately 65% of Antofagasta, which operates several copper mines in Chile's arid Atacama Desert. The company produced 660,000 metric tons of copper in 2025, generating $6.8 billion in revenue and $2.1 billion in net profit. The family also controls Quiñenco, a sprawling conglomerate with interests in banking, beer, transportation and manufacturing.

Iris's revenue pathway is simple: own the metal that powers the modern world. Copper prices have nearly doubled since 2020, driven by the global energy transition. Every electric vehicle contains about 80 kilograms of copper. Every wind turbine requires several tons. Every new data center built to power artificial intelligence is wired with miles of copper cable. Fontbona's fortune rises and falls with the red metal's price, and right now, it is rising fast.

Unlike other billionaires on this list who inherited diversified portfolios, Fontbona's wealth remains heavily concentrated in copper. That concentration is a risk, but in 2026, it has paid off spectacularly. The $24.5 billion gain is the largest single-year increase of any woman on the Forbes list, a testament to the power of being in the right commodity at the right time.

As Iris adds $24.5 billion to her fortune in a single year the biggest gain of any woman on the planet The Silicon Review profiles the copper queen of Chile, a widow who inherited a mining empire and watched it multiply as the world discovered it cannot live without the red metal she owns.

 About the Author

Sashindra Suresh is an experienced writer specializing in artificial intelligence, software development, and emerging technologies. With a strong ability to translate complex technical concepts into clear, engaging insights, she has contributed to a wide range of publications and platforms. Her work focuses on making cutting-edge innovations accessible to both industry professionals and curious readers alike.