Revision as of 09:53, 19 March 2024 view source111.220.78.195 (talk) chairwoman← Previous edit | Revision as of 10:11, 20 April 2024 view source TarnishedPath (talk | contribs)Extended confirmed users, IP block exemptions, New page reviewers, Pending changes reviewers17,804 edits Rescuing 86 sources and tagging 0 as dead.) #IABot (v2.0.9.5Tag: IABotManagementConsole [1.3]Next edit → | ||
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| boards = ]<ref name=hppl>{{cite web |url=http://www.hancockprospecting.com.au/ |title=Home page |publisher=Hancock Prospecting Pty Limited |access-date=31 August 2014 |date=n.d. |url-status=dead |archive-url=https://web.archive.org/web/20140819195519/http://www.hancockprospecting.com.au/ |archive-date=19 August 2014 }}</ref><ref name="BRW (A Fairfax Media Publication)-2014" /> | | boards = ]<ref name=hppl>{{cite web |url=http://www.hancockprospecting.com.au/ |title=Home page |publisher=Hancock Prospecting Pty Limited |access-date=31 August 2014 |date=n.d. |url-status=dead |archive-url=https://web.archive.org/web/20140819195519/http://www.hancockprospecting.com.au/ |archive-date=19 August 2014 }}</ref><ref name="BRW (A Fairfax Media Publication)-2014" /> | ||
| spouse = {{unbulleted list|{{marriage|Greg Hayward|1973|1981|reason=divorced}}|{{marriage|Frank Rinehart|1983|1990|end=d.}}}} | | spouse = {{unbulleted list|{{marriage|Greg Hayward|1973|1981|reason=divorced}}|{{marriage|Frank Rinehart|1983|1990|end=d.}}}} | ||
| children = 4, including ]<ref name="The Australian Women's Weekly-1976"/><ref>{{cite news|url=http://mobile.abc.net.au/news/2015-05-28/gina-rinehart-court-decision-family-trust/6504410?pfmredir=sm|title=Gina Rinehart's eldest daughter Bianca handed control of family's $4 billion trust}}</ref><ref name="Burrell, Andrew-2012"/> | | children = 4, including ]<ref name="The Australian Women's Weekly-1976"/><ref>{{cite news|url=http://mobile.abc.net.au/news/2015-05-28/gina-rinehart-court-decision-family-trust/6504410?pfmredir=sm|title=Gina Rinehart's eldest daughter Bianca handed control of family's $4 billion trust|access-date=29 August 2018|archive-date=5 February 2020|archive-url=https://web.archive.org/web/20200205133856/https://mobile.abc.net.au/news/2015-05-28/gina-rinehart-court-decision-family-trust/6504410?pfmredir=sm|url-status=live}}</ref><ref name="Burrell, Andrew-2012"/> | ||
| father = ] | | father = ] | ||
| mother = Hope Nicholas | | mother = Hope Nicholas | ||
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}} | }} | ||
'''Georgina Hope Rinehart''' {{post-nominals|country=AUS|AO}} (] '''Hancock''', born 9 February 1954) is an Australian billionaire mining magnate and heiress.<ref>{{Cite news |title=Bloomberg Billionaires Index |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/billionaires/profiles/georgina-h-rinehart/ |access-date=2023-02-24}}</ref> Rinehart is the Executive Chairwoman of ], a ] mineral exploration and extraction company founded by her father, ]. | '''Georgina Hope Rinehart''' {{post-nominals|country=AUS|AO}} (] '''Hancock''', born 9 February 1954) is an Australian billionaire mining magnate and heiress.<ref>{{Cite news |title=Bloomberg Billionaires Index |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/billionaires/profiles/georgina-h-rinehart/ |access-date=2023-02-24 |archive-date=29 April 2021 |archive-url=https://web.archive.org/web/20210429160917/https://www.bloomberg.com/billionaires/profiles/georgina-h-rinehart/ |url-status=live }}</ref> Rinehart is the Executive Chairwoman of ], a ] mineral exploration and extraction company founded by her father, ]. | ||
Rinehart was born in ], Western Australia, and spent her early years in the ] region. She boarded at ] and then briefly studied at the ], dropping out to work with her father at Hancock Prospecting. She was Lang Hancock's only child, and when he died in 1992 she succeeded him as executive chairwoman.<ref name="Finnegan-2013">{{Cite magazine|last=Finnegan|first=William|title=The Miner's Daughter|url=https://www.newyorker.com/magazine/2013/03/25/the-miners-daughter|access-date=2021-05-17|magazine=The New Yorker|date=18 March 2013|language=en-US}}</ref> She turned a company with severe financial difficulties into the largest private company in Australia and one of the largest mining houses in the world.<ref name="Finnegan-2013" /><ref>{{Cite web|date=2020-09-06|title=Top 500 Private Companies: Gina Rinehart's Hancock Prospecting beats Visy as Australia's biggest private company|url=https://www.afr.com/work-and-careers/management/hancock-beats-visy-as-biggest-private-company-20200904-p55sja|access-date=2021-05-17|website=Australian Financial Review|language=en}}</ref> | Rinehart was born in ], Western Australia, and spent her early years in the ] region. She boarded at ] and then briefly studied at the ], dropping out to work with her father at Hancock Prospecting. She was Lang Hancock's only child, and when he died in 1992 she succeeded him as executive chairwoman.<ref name="Finnegan-2013">{{Cite magazine|last=Finnegan|first=William|title=The Miner's Daughter|url=https://www.newyorker.com/magazine/2013/03/25/the-miners-daughter|access-date=2021-05-17|magazine=The New Yorker|date=18 March 2013|language=en-US|archive-date=12 February 2019|archive-url=https://web.archive.org/web/20190212174422/https://www.newyorker.com/magazine/2013/03/25/the-miners-daughter|url-status=live}}</ref> She turned a company with severe financial difficulties into the largest private company in Australia and one of the largest mining houses in the world.<ref name="Finnegan-2013" /><ref>{{Cite web|date=2020-09-06|title=Top 500 Private Companies: Gina Rinehart's Hancock Prospecting beats Visy as Australia's biggest private company|url=https://www.afr.com/work-and-careers/management/hancock-beats-visy-as-biggest-private-company-20200904-p55sja|access-date=2021-05-17|website=Australian Financial Review|language=en|archive-date=12 April 2021|archive-url=https://web.archive.org/web/20210412031344/https://www.afr.com/work-and-careers/management/hancock-beats-visy-as-biggest-private-company-20200904-p55sja|url-status=live}}</ref> | ||
When Rinehart took over Hancock Prospecting, its total wealth was estimated at {{AUD}}75 million, which did not account for group liabilities and contingent liabilities of around {{AUD}}100 million.<ref>{{cite news|author1=Drummond, Mark |
When Rinehart took over Hancock Prospecting, its total wealth was estimated at {{AUD}}75 million, which did not account for group liabilities and contingent liabilities of around {{AUD}}100 million.<ref>{{cite news|author1=Drummond, Mark|date=7 June 1999|title=Hancock was in debt, executor tells hearing|work=]|publisher=Nine Publishing|url=https://www.afr.com/politics/hancock-was-in-debt-executor-tells-hearing-19990607-k8tkh|url-access=subscription|access-date=19 May 2022|archive-date=23 October 2022|archive-url=https://web.archive.org/web/20221023115337/https://www.afr.com/politics/hancock-was-in-debt-executor-tells-hearing-19990607-k8tkh|url-status=live}}</ref> She oversaw an expansion of the company over the following decade, and due to the iron ore boom of the early 2000s became a nominal billionaire in 2006. In the 2010s, Rinehart began to expand her holdings into areas outside the mining industry. She made sizeable investments in ] and ] (although she sold her interest in the latter in 2015), and also expanded into agriculture, buying several ], divesting them within a decade.<ref>{{cite news|author1=Schlesinger, Larry|date=23 September 2021|title=Gina Rinehart sells cattle stations for 100m|work=]|publisher=Nine Publishing|url=https://www.afr.com/property/commercial/gina-rinehart-sells-wa-cattle-stations-for-100m-20210923-p58u3z|url-access=subscription|access-date=19 May 2022|archive-date=19 May 2022|archive-url=https://web.archive.org/web/20220519150203/https://www.afr.com/property/commercial/gina-rinehart-sells-wa-cattle-stations-for-100m-20210923-p58u3z|url-status=live}}</ref> | ||
Rinehart is Australia's richest person. Her wealth reached around {{AUD}}29 billion in 2012, at which point she overtook ] as the ] and was included on the ]. Rinehart's net worth dropped significantly over the following few years due to a slowdown in the Australian mining sector. '']'' estimated her ] in 2019 at {{USD}}14.8 ] as published in the ].<ref name="Forbes Asia-2019"/> However, her wealth was rebuilt again during 2020 due to increased demand for Australian ],<ref name="ore">{{cite news|author1=Sprague, Julie-anne|date=29 October 2020|title=Rich List 2020 marks the rise of the ore-ligarchs|work=]|publisher=Nine Publishing|url=https://www.afr.com/rich-list/rich-list-2020-marks-the-rise-of-the-ore-ligarchs-20200917-p55wmp|url-access=subscription|access-date=31 October 2020}}</ref> so that by May 2023, her net worth as published in the ] was estimated in excess of {{AUD}}37 billion;<ref name="Sprague, Julie-anne-2023"/> while in March 2021, '']'' stated her wealth equalled {{AUD}}36.28 billion.<ref>{{Cite web|last1=Bailey|first1=Michael|last2=Sprague|first2=Julianne|date=2020-10-29|title=Rich List 2020: Gina Rinehart is wealthiest person in Australia, followed by Andrew Forrest|url=https://www.afr.com/rich-list/the-10-richest-australians-revealed-20201028-p569c7|access-date=2021-05-17|website=Australian Financial Review|language=en}}</ref><ref name="Stensholt-2021">{{Cite web|last=Stensholt|first=John|date=2021-03-18|title=How our biggest names thrived during the pandemic|url=https://www.theaustralian.com.au/subscribe/news/1/?sourceCode=TAWEB_WRE170_a&dest=https%3A%2F%2Fwww.theaustralian.com.au%2Fbusiness%2Frichest-250-2021-gina-rineharts-extraordinary-36bn-wealth-puts-her-in-top-place-on-the-list-australias-richest-250-in-record-year%2Fnews-story%2F271b5b13ea8aea953da7a4aec67aad27&memtype=anonymous&mode=premium&nk=f82a2739e2b73144390c055583dc7fb6-1621212068|access-date=2021-05-17|website=The Australian Business Review}}</ref> {{as of|2020|09}} ''Forbes'' considered Rinehart one of the world's ten richest women.<ref>{{Cite web|title=The 10 Richest Women in the World 2020|url=https://www.forbes.com/stories/the-10-richest-women-in-the-world-2020/|access-date=2020-09-29|website=www.forbes.com}}</ref> Rinehart was ] from 2011 to 2015, according to both ''Forbes'' and ''The Australian Financial Review''; and again every year since 2020, according to ''The Australian Business Review'' and ''The Australian Financial Review''.<ref name="Sprague, Julie-anne-2023"/><ref name="Sprague, Julie-anne-2021"/><ref name="Sprague, Julie-anne-2020"/><ref name="Stensholt-2021" /> | Rinehart is Australia's richest person. Her wealth reached around {{AUD}}29 billion in 2012, at which point she overtook ] as the ] and was included on the ]. Rinehart's net worth dropped significantly over the following few years due to a slowdown in the Australian mining sector. '']'' estimated her ] in 2019 at {{USD}}14.8 ] as published in the ].<ref name="Forbes Asia-2019"/> However, her wealth was rebuilt again during 2020 due to increased demand for Australian ],<ref name="ore">{{cite news|author1=Sprague, Julie-anne|date=29 October 2020|title=Rich List 2020 marks the rise of the ore-ligarchs|work=]|publisher=Nine Publishing|url=https://www.afr.com/rich-list/rich-list-2020-marks-the-rise-of-the-ore-ligarchs-20200917-p55wmp|url-access=subscription|access-date=31 October 2020|archive-date=31 October 2020|archive-url=https://web.archive.org/web/20201031145732/https://www.afr.com/rich-list/rich-list-2020-marks-the-rise-of-the-ore-ligarchs-20200917-p55wmp|url-status=live}}</ref> so that by May 2023, her net worth as published in the ] was estimated in excess of {{AUD}}37 billion;<ref name="Sprague, Julie-anne-2023"/> while in March 2021, '']'' stated her wealth equalled {{AUD}}36.28 billion.<ref>{{Cite web|last1=Bailey|first1=Michael|last2=Sprague|first2=Julianne|date=2020-10-29|title=Rich List 2020: Gina Rinehart is wealthiest person in Australia, followed by Andrew Forrest|url=https://www.afr.com/rich-list/the-10-richest-australians-revealed-20201028-p569c7|access-date=2021-05-17|website=Australian Financial Review|language=en|archive-date=30 October 2020|archive-url=https://web.archive.org/web/20201030180356/https://www.afr.com/rich-list/the-10-richest-australians-revealed-20201028-p569c7|url-status=live}}</ref><ref name="Stensholt-2021">{{Cite web|last=Stensholt|first=John|date=2021-03-18|title=How our biggest names thrived during the pandemic|url=https://www.theaustralian.com.au/subscribe/news/1/?sourceCode=TAWEB_WRE170_a&dest=https%3A%2F%2Fwww.theaustralian.com.au%2Fbusiness%2Frichest-250-2021-gina-rineharts-extraordinary-36bn-wealth-puts-her-in-top-place-on-the-list-australias-richest-250-in-record-year%2Fnews-story%2F271b5b13ea8aea953da7a4aec67aad27&memtype=anonymous&mode=premium&nk=f82a2739e2b73144390c055583dc7fb6-1621212068|access-date=2021-05-17|website=The Australian Business Review|archive-date=17 May 2021|archive-url=https://web.archive.org/web/20210517013525/https://www.theaustralian.com.au/subscribe/news/1/?sourceCode=TAWEB_WRE170_a&dest=https://www.theaustralian.com.au/business/richest-250-2021-gina-rineharts-extraordinary-36bn-wealth-puts-her-in-top-place-on-the-list-australias-richest-250-in-record-year/news-story/271b5b13ea8aea953da7a4aec67aad27&memtype=anonymous&mode=premium&nk=f82a2739e2b73144390c055583dc7fb6-1621212068|url-status=live}}</ref> {{as of|2020|09}} ''Forbes'' considered Rinehart one of the world's ten richest women.<ref>{{Cite web|title=The 10 Richest Women in the World 2020|url=https://www.forbes.com/stories/the-10-richest-women-in-the-world-2020/|access-date=2020-09-29|website=www.forbes.com|archive-date=5 October 2020|archive-url=https://web.archive.org/web/20201005042351/https://www.forbes.com/stories/the-10-richest-women-in-the-world-2020/|url-status=live}}</ref> Rinehart was ] from 2011 to 2015, according to both ''Forbes'' and ''The Australian Financial Review''; and again every year since 2020, according to ''The Australian Business Review'' and ''The Australian Financial Review''.<ref name="Sprague, Julie-anne-2023"/><ref name="Sprague, Julie-anne-2021"/><ref name="Sprague, Julie-anne-2020"/><ref name="Stensholt-2021" /> | ||
==Early life and family== | ==Early life and family== | ||
Rinehart was born on 9 February 1954 at ] in ].<ref>{{cite news |url=https://trove.nla.gov.au/newspaper/article/49616702 |title=Family Notices |newspaper=] |date=12 February 1954}}</ref> She is the only child of Hope Margaret Nicholas and Lang Hancock. Until age four, Rinehart lived with her parents at Nunyerry, {{convert|60|km}} north of ]. Her family then moved to Mulga Downs station in the Pilbara.<ref>{{cite news |url=http://nla.gov.au/nla.news-article51599956|title=She helped found a mining empire |newspaper=] |date=5 April 1967 |access-date=14 January 2011 |page=2 |publisher=National Library of Australia}}</ref> Later Rinehart boarded at ] in Perth. She briefly studied economics at the ], before dropping out and working for her father, gaining an extensive knowledge of the Pilbara iron-ore industry. Rinehart rebuilt the HPPL company to become one of the most successful private companies in Australia's history.<ref name="Treadgold, Tim-2011"/><ref name="Murphy, Damien-2010"/> | Rinehart was born on 9 February 1954 at ] in ].<ref>{{cite news |url=https://trove.nla.gov.au/newspaper/article/49616702 |title=Family Notices |newspaper=] |date=12 February 1954 |access-date=27 July 2018 |archive-date=31 December 2019 |archive-url=https://web.archive.org/web/20191231004001/https://trove.nla.gov.au/newspaper/article/49616702 |url-status=live }}</ref> She is the only child of Hope Margaret Nicholas and Lang Hancock. Until age four, Rinehart lived with her parents at Nunyerry, {{convert|60|km}} north of ]. Her family then moved to Mulga Downs station in the Pilbara.<ref>{{cite news |url=http://nla.gov.au/nla.news-article51599956|title=She helped found a mining empire |newspaper=] |date=5 April 1967 |access-date=14 January 2011 |page=2 |publisher=National Library of Australia}}</ref> Later Rinehart boarded at ] in Perth. She briefly studied economics at the ], before dropping out and working for her father, gaining an extensive knowledge of the Pilbara iron-ore industry. Rinehart rebuilt the HPPL company to become one of the most successful private companies in Australia's history.<ref name="Treadgold, Tim-2011"/><ref name="Murphy, Damien-2010"/> | ||
In 1973, at age 19, Rinehart met Englishman Greg Milton while both were working in Wittenoom. At this time Milton changed his surname to an earlier family name Hayward. Their children John Langley<ref name="The Australian Women's Weekly-1976">{{cite news |url=http://nla.gov.au/nla.news-article44524735 |title=Master John Langley Hayward Australia's richest baby |newspaper=The Australian Women's Weekly |date=11 February 1976 |access-date=14 January 2011 |page=13 |publisher=National Library of Australia}}</ref> and Bianca Hope were born in 1976 and 1977 respectively. The couple separated in 1979 and divorced in 1981.<ref name="Leser, David-1999">{{cite book|title=The Whites of Their Eyes|author=Leser, David|isbn=978-1-86508-114-4|publisher=Allen & Unwin|location=Sydney|year=1999|pages=|format=paperback|url=https://archive.org/details/whitesoftheireye0000lese/page/296}}</ref>{{rp|6}}<ref name="Leser, David-1999"/>{{rp|7}}<ref name="Murphy, Damien-2010"/> In 1983, she married corporate lawyer and Arco executive, Frank Rinehart,<ref name="Leser, David-1999"/>{{rp|4}} in Las Vegas. They had two children, Hope and Ginia, born in 1986 and 1987 respectively. Frank Rinehart received a scholarship to Harvard for his services in the then US Army Air Corps. He was top of Harvard College, and then top of Harvard Law School, while also studying engineering, and holding a full-time and two part time jobs.<ref name="Hall, Louise-2011">{{cite news|url=http://au.news.yahoo.com/thewest/a/-/news/10229162/three-siblings-revealed-in-rinehart-court-feud/|title=Three siblings revealed in Rinehart court feud|work=The West Australian|date=10 September 2011|author1=Pennells, Steve|author2=Hall, Louise|access-date=10 September 2011|archive-date=30 September 2012|archive-url=https://web.archive.org/web/20120930123247/http://au.news.yahoo.com/thewest/a/-/news/10229162/three-siblings-revealed-in-rinehart-court-feud/|url-status=dead}}</ref><ref name=australian>{{cite news|url=http://www.theaustralian.com.au/business/the-rinehart-not-afraid-to-get-her-hands-dirty/story-e6frg8zx-1225961722411|title=The Rinehart not afraid to get her hands dirty|author=Burrell, Andrew|work=]|date=27 November 2010|access-date=9 January 2011}}</ref> Frank Rinehart died in 1990.<ref name="Leser, David-1999"/>{{rp|10}} | In 1973, at age 19, Rinehart met Englishman Greg Milton while both were working in Wittenoom. At this time Milton changed his surname to an earlier family name Hayward. Their children John Langley<ref name="The Australian Women's Weekly-1976">{{cite news |url=http://nla.gov.au/nla.news-article44524735 |title=Master John Langley Hayward Australia's richest baby |newspaper=The Australian Women's Weekly |date=11 February 1976 |access-date=14 January 2011 |page=13 |publisher=National Library of Australia}}</ref> and Bianca Hope were born in 1976 and 1977 respectively. The couple separated in 1979 and divorced in 1981.<ref name="Leser, David-1999">{{cite book|title=The Whites of Their Eyes|author=Leser, David|isbn=978-1-86508-114-4|publisher=Allen & Unwin|location=Sydney|year=1999|pages=|format=paperback|url=https://archive.org/details/whitesoftheireye0000lese/page/296}}</ref>{{rp|6}}<ref name="Leser, David-1999"/>{{rp|7}}<ref name="Murphy, Damien-2010"/> In 1983, she married corporate lawyer and Arco executive, Frank Rinehart,<ref name="Leser, David-1999"/>{{rp|4}} in Las Vegas. They had two children, Hope and Ginia, born in 1986 and 1987 respectively. Frank Rinehart received a scholarship to Harvard for his services in the then US Army Air Corps. He was top of Harvard College, and then top of Harvard Law School, while also studying engineering, and holding a full-time and two part time jobs.<ref name="Hall, Louise-2011">{{cite news|url=http://au.news.yahoo.com/thewest/a/-/news/10229162/three-siblings-revealed-in-rinehart-court-feud/|title=Three siblings revealed in Rinehart court feud|work=The West Australian|date=10 September 2011|author1=Pennells, Steve|author2=Hall, Louise|access-date=10 September 2011|archive-date=30 September 2012|archive-url=https://web.archive.org/web/20120930123247/http://au.news.yahoo.com/thewest/a/-/news/10229162/three-siblings-revealed-in-rinehart-court-feud/|url-status=dead}}</ref><ref name=australian>{{cite news|url=http://www.theaustralian.com.au/business/the-rinehart-not-afraid-to-get-her-hands-dirty/story-e6frg8zx-1225961722411|title=The Rinehart not afraid to get her hands dirty|author=Burrell, Andrew|work=]|date=27 November 2010|access-date=9 January 2011|archive-date=28 November 2010|archive-url=https://web.archive.org/web/20101128022754/http://www.theaustralian.com.au/business/the-rinehart-not-afraid-to-get-her-hands-dirty/story-e6frg8zx-1225961722411|url-status=live}}</ref> Frank Rinehart died in 1990.<ref name="Leser, David-1999"/>{{rp|10}} | ||
Rinehart and her step-mother, ], were involved in a legal fight from 1992 over Hancock's death and bankrupt estate. The ordeal ultimately took 14 years to settle with Hith HPPL retaining the mining tenements that Porteous had endeavored to allege did not belong to the company.<ref name="Forbes-2007">{{cite news |url=https://www.forbes.com/lists/2007/78/biz_07australia_Gina-Rinehart_BIGN.html |title=Australia & New Zealand's 40 Richest: #14 Gina Rinehart |work=Forbes |date=2 February 2007 |access-date=27 July 2011 |archive-date=16 July 2011 |archive-url=https://web.archive.org/web/20110716005234/http://www.forbes.com/lists/2007/78/biz_07australia_Gina-Rinehart_BIGN.html |url-status=dead }}</ref> | Rinehart and her step-mother, ], were involved in a legal fight from 1992 over Hancock's death and bankrupt estate. The ordeal ultimately took 14 years to settle with Hith HPPL retaining the mining tenements that Porteous had endeavored to allege did not belong to the company.<ref name="Forbes-2007">{{cite news |url=https://www.forbes.com/lists/2007/78/biz_07australia_Gina-Rinehart_BIGN.html |title=Australia & New Zealand's 40 Richest: #14 Gina Rinehart |work=Forbes |date=2 February 2007 |access-date=27 July 2011 |archive-date=16 July 2011 |archive-url=https://web.archive.org/web/20110716005234/http://www.forbes.com/lists/2007/78/biz_07australia_Gina-Rinehart_BIGN.html |url-status=dead }}</ref> | ||
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In 1999, the Western Australian state government approved a proposal to name a mountain range in honour of her family. Hancock Range is situated about {{convert|65|km}} north-west of the town of ] at {{coord|23|00|23|S|119|12|31|E|display=inline}} and commemorates the family's contribution to the establishment of the pastoral and mining industry in the Pilbara region.<ref>{{citation |title=Geographic Name Approvals in Western Australia |date=July–September 1999|volume=15|issue=3 |page=7}}</ref><ref>{{citation |title=Geographic Name Approvals in Western Australia |date=October–December 1999|volume=15|issue=4 |page=7}}</ref> | In 1999, the Western Australian state government approved a proposal to name a mountain range in honour of her family. Hancock Range is situated about {{convert|65|km}} north-west of the town of ] at {{coord|23|00|23|S|119|12|31|E|display=inline}} and commemorates the family's contribution to the establishment of the pastoral and mining industry in the Pilbara region.<ref>{{citation |title=Geographic Name Approvals in Western Australia |date=July–September 1999|volume=15|issue=3 |page=7}}</ref><ref>{{citation |title=Geographic Name Approvals in Western Australia |date=October–December 1999|volume=15|issue=4 |page=7}}</ref> | ||
In 2003, at age 27, Rinehart's son John changed his surname by ] from his birth name Hayward to Hancock, his maternal grandfather's name.<ref name="Ferguson1">{{cite book |author-last=Ferguson |author-first=Adele |author-link=Adele Ferguson |pages=400 |format=paperback |url=https://www.worldcat.org/oclc/781690232 |title=Gina Rinehart : the untold story of the richest person in Australian history |date=2012 |publisher=] |isbn=978-1-74261-097-9 |location=Sydney, N.S.W. |oclc=781690232}}</ref> Since 2014, Rinehart has had a difficult relationship with her son, John; and was not present at his wedding to Gemma Ludgate.<ref name="Treadgold, Tim-2011"/><ref name="Garvey, Paul-2014">{{cite news|title=Gina Rinehart misses wedding of son John Hancock|url=http://www.theaustralian.com.au/news/nation/gina-rinehart-misses-wedding-of-son-john-hancock/story-e6frg6nf-1226924398777 |
In 2003, at age 27, Rinehart's son John changed his surname by ] from his birth name Hayward to Hancock, his maternal grandfather's name.<ref name="Ferguson1">{{cite book |author-last=Ferguson |author-first=Adele |author-link=Adele Ferguson |pages=400 |format=paperback |url=https://www.worldcat.org/oclc/781690232 |title=Gina Rinehart : the untold story of the richest person in Australian history |date=2012 |publisher=] |isbn=978-1-74261-097-9 |location=Sydney, N.S.W. |oclc=781690232}}</ref> Since 2014, Rinehart has had a difficult relationship with her son, John; and was not present at his wedding to Gemma Ludgate.<ref name="Treadgold, Tim-2011"/><ref name="Garvey, Paul-2014">{{cite news|title=Gina Rinehart misses wedding of son John Hancock|url=http://www.theaustralian.com.au/news/nation/gina-rinehart-misses-wedding-of-son-john-hancock/story-e6frg6nf-1226924398777|date=20 May 2014|work=The Australian|author=Garvey, Paul|access-date=24 May 2014|archive-date=13 December 2022|archive-url=https://web.archive.org/web/20221213141217/http://www.theaustralian.com.au/news/nation/gina-rinehart-misses-wedding-of-son-john-hancock/story-e6frg6nf-1226924398777|url-status=live}}</ref> John's sister, Bianca Hope Rinehart, who was once positioned to take over the family business, served as a director of Hancock Prospecting and HMHT Investments until 31 October 2011, when she was replaced by her half-sister, Ginia Rinehart.<ref name="Burrell, Andrew-2012"/><ref>{{cite news |title=Another Rinehart daughter exits Hancock board |url=http://www.smh.com.au/business/another-rinehart-daughter-exits-hancock-board-20120130-1qp77.html |author=Spooner, Rania |date=30 January 2012 |work=The Sydney Morning Herald |access-date=2 February 2012 |archive-date=1 February 2012 |archive-url=https://web.archive.org/web/20120201204152/http://www.smh.com.au/business/another-rinehart-daughter-exits-hancock-board-20120130-1qp77.html |url-status=live }}</ref><ref>{{cite news |url=http://www.businessspectator.com.au/bs.nsf/Article/Rinehart-eyes-dynasty-succession-QCKJX?OpenDocument |work=Business Spectator |date=10 January 2012 |access-date=2 February 2012 |title=Rinehart eyes dynasty succession |agency=Australian Associated Press }}</ref> In 2013, Bianca married her partner Sasha Serebryako in Hawaii, but Rinehart did not attend the wedding.<ref name="Garvey, Paul-2014"/> Rinehart's other daughter, Hope, married Ryan Welker, and they divorced while living in New York. Rinehart attended both her younger daughters' weddings.<ref name="Burrell, Andrew-2012">{{cite news |url=http://www.theaustralian.com.au/business/mining-energy/filial-loyalty-pays-off-for-gina-rinehart-heir/story-e6frg9df-1226240332589 |title=Filial loyalty pays off for Gina Rinehart heir |author=Burrell, Andrew |date=10 January 2012 |access-date=2 February 2012 |work=The Australian |archive-date=24 January 2012 |archive-url=https://web.archive.org/web/20120124225828/http://www.theaustralian.com.au/business/mining-energy/filial-loyalty-pays-off-for-gina-rinehart-heir/story-e6frg9df-1226240332589 |url-status=live }}</ref> | ||
==Business career== | ==Business career== | ||
{{main|Hancock Prospecting}} | {{main|Hancock Prospecting}} | ||
] which serves ], co-owned by ] and ].]] | ] which serves ], co-owned by ] and ].]] | ||
After the death of her father in March 1992, Rinehart became Executive Chairwoman of Hancock Prospecting Pty Limited (HPPL) and the HPPL Group of companies.<ref>{{Cite web|url=https://www.smh.com.au/business/gina-rinehart-sues-nine-entertainment-over-hancock-drama-falsehoods-20150302-13sz5x.html|title=Gina Rinehart sues Nine Entertainment over Hancock drama 'falsehoods'|last=Lynch|first=Jared|date=2 March 2015|website=The Sydney Morning Herald|access-date=9 May 2019}}</ref><ref>{{Cite web|url=https://www.hancockprospecting.com.au/meet-our-team-2/|title=Meet Our Team|website=Hancock Prospecting PTY LTD|access-date=9 May 2019}}</ref> All companies within the group are ]. With the notable exception of receiving a royalty stream from ] since the late 1960s, Lang Hancock's mining activities were mainly related to exploration and the accumulation of vast mining leases. The BBC journalist, Nick Bryant, argues that while Rinehart was a beneficiary of her father's royalty deals, she "transformed the family business by spotting, earlier than most, the vast potential of the China market."<ref>{{Cite book|last=Bryant|first=Nick|title=The Rise and Fall of Australia: How a great nation lost its way|publisher=Bantam|year=2014|isbn=9780857983787|location=North Sydney|pages=222}}</ref> | After the death of her father in March 1992, Rinehart became Executive Chairwoman of Hancock Prospecting Pty Limited (HPPL) and the HPPL Group of companies.<ref>{{Cite web|url=https://www.smh.com.au/business/gina-rinehart-sues-nine-entertainment-over-hancock-drama-falsehoods-20150302-13sz5x.html|title=Gina Rinehart sues Nine Entertainment over Hancock drama 'falsehoods'|last=Lynch|first=Jared|date=2 March 2015|website=The Sydney Morning Herald|access-date=9 May 2019|archive-date=9 May 2019|archive-url=https://web.archive.org/web/20190509071019/https://www.smh.com.au/business/gina-rinehart-sues-nine-entertainment-over-hancock-drama-falsehoods-20150302-13sz5x.html|url-status=live}}</ref><ref>{{Cite web|url=https://www.hancockprospecting.com.au/meet-our-team-2/|title=Meet Our Team|website=Hancock Prospecting PTY LTD|access-date=9 May 2019|archive-date=9 May 2019|archive-url=https://web.archive.org/web/20190509071022/https://www.hancockprospecting.com.au/meet-our-team-2/|url-status=live}}</ref> All companies within the group are ]. With the notable exception of receiving a royalty stream from ] since the late 1960s, Lang Hancock's mining activities were mainly related to exploration and the accumulation of vast mining leases. The BBC journalist, Nick Bryant, argues that while Rinehart was a beneficiary of her father's royalty deals, she "transformed the family business by spotting, earlier than most, the vast potential of the China market."<ref>{{Cite book|last=Bryant|first=Nick|title=The Rise and Fall of Australia: How a great nation lost its way|publisher=Bantam|year=2014|isbn=9780857983787|location=North Sydney|pages=222}}</ref> | ||
Rinehart achieved the Roy Hill tenements in 1993, the year after her father's death, having applied for them five months after her father's passing, and focused on developing Roy Hill and Hancock Prospective undeveloped deposits, raising capital through joint venture partnerships and turning the leases into revenue producing mines.<ref name="McIntyre, David-2011" /> | Rinehart achieved the Roy Hill tenements in 1993, the year after her father's death, having applied for them five months after her father's passing, and focused on developing Roy Hill and Hancock Prospective undeveloped deposits, raising capital through joint venture partnerships and turning the leases into revenue producing mines.<ref name="McIntyre, David-2011" /> | ||
Hancock Prospecting, now owns 50 per cent of Hope Downs and shares of 50 per cent of the profits generated by the 4 ], which is operated by ] under a joint management committee and produces 47 million tonnes of iron ore annually. Another joint venture with ] at ], northwest of Newman, is producing 500 million tonnes of ].{{citation needed|date=February 2012}} Majority stakes in the Alpha Coal and Kevin's Corner coal projects in ] were sold to ] in 2011.<ref>{{Cite web |last=FitzGerald |first=Barry |date=2011-09-18 |title=Riches flow for Rinehart with $1.2b Galilee sale |url=https://www.smh.com.au/business/riches-flow-for-rinehart-with-1-2b-galilee-sale-20110918-1kg23.html |access-date=2022-08-18 |website=The Sydney Morning Herald |language=en}}</ref> After receiving approval from the Commonwealth Minister for the Environment in 2012, these coal projects were subsequently not developed.<ref>{{Cite web |date=2020-08-26 |title=Alpha Coal Project |url=https://www.statedevelopment.qld.gov.au/coordinator-general/assessments-and-approvals/coordinated-projects/completed-projects/alpha-coal-project |access-date=2022-08-18 |website=State Development, Infrastructure, Local Government and Planning |language=en-AU}}</ref><ref>{{Cite web |date=2022-01-08 |title=After Adani: whatever happened to Queensland's Galilee basin coal boom? |url=https://www.theguardian.com/australia-news/2022/jan/09/after-adani-whatever-happened-to-queenslands-galilee-basin-coal-boom |access-date=2022-08-18 |website=The Guardian |language=en}}</ref> The Roy Hill Iron ore project, south of Port headline, in the Pilbara produces 60 million tonnes a year, with approvals pending to reach 70 million tonnes per annum.<ref>{{cite news|url=http://au.ibtimes.com/articles/279197/20120110/ascent-ginia-rinehart-family-business-empire.htm |title=The Ascent of Ginia Rinehart to the Family Business Empire |date=10 January 2012 |access-date=2 February 2012 |work=International Business Times |first=Vittorio |last=Hernandez |url-status=dead |archive-url=https://web.archive.org/web/20120119051703/http://au.ibtimes.com/articles/279197/20120110/ascent-ginia-rinehart-family-business-empire.htm |archive-date=19 January 2012 }}</ref><ref name=AFR>{{cite news|url=http://www.hancockprospecting.com.au/files/POSCO%20lifts%20stake%20in%20Hancock%27s%20Roy%20Hill.pdf|title=POSCO lifts stake in Hancock's Roy Hill|date=18 January 2012|first=James|last=Chessell|work=Australian Financial Review|access-date=2 February 2012|archive-url=https://web.archive.org/web/20120320130827/http://hancockprospecting.com.au/files/Ratings%20Agencies%20Endorse%20Roy%20Hill.pdf|archive-date=20 March 2012|url-status=dead}}</ref><ref name=THEWEST>{{cite news|url=http://www.hancockprospecting.com.au/files/Ratings%20Agencies%20Endorse%20Roy%20Hill.pdf|title=Ratings agencies endorse Roy Hill|first=Peter|last=Klinger|work=West Australian|date=19 January 2012|access-date=2 February 2012|url-status=dead|archive-url=https://web.archive.org/web/20120320130827/http://hancockprospecting.com.au/files/Ratings%20Agencies%20Endorse%20Roy%20Hill.pdf|archive-date=20 March 2012}}</ref> | Hancock Prospecting, now owns 50 per cent of Hope Downs and shares of 50 per cent of the profits generated by the 4 ], which is operated by ] under a joint management committee and produces 47 million tonnes of iron ore annually. Another joint venture with ] at ], northwest of Newman, is producing 500 million tonnes of ].{{citation needed|date=February 2012}} Majority stakes in the Alpha Coal and Kevin's Corner coal projects in ] were sold to ] in 2011.<ref>{{Cite web |last=FitzGerald |first=Barry |date=2011-09-18 |title=Riches flow for Rinehart with $1.2b Galilee sale |url=https://www.smh.com.au/business/riches-flow-for-rinehart-with-1-2b-galilee-sale-20110918-1kg23.html |access-date=2022-08-18 |website=The Sydney Morning Herald |language=en |archive-date=18 August 2022 |archive-url=https://web.archive.org/web/20220818075052/https://www.smh.com.au/business/riches-flow-for-rinehart-with-1-2b-galilee-sale-20110918-1kg23.html |url-status=live }}</ref> After receiving approval from the Commonwealth Minister for the Environment in 2012, these coal projects were subsequently not developed.<ref>{{Cite web |date=2020-08-26 |title=Alpha Coal Project |url=https://www.statedevelopment.qld.gov.au/coordinator-general/assessments-and-approvals/coordinated-projects/completed-projects/alpha-coal-project |access-date=2022-08-18 |website=State Development, Infrastructure, Local Government and Planning |language=en-AU |archive-date=4 October 2022 |archive-url=https://web.archive.org/web/20221004080916/https://www.statedevelopment.qld.gov.au/coordinator-general/assessments-and-approvals/coordinated-projects/completed-projects/alpha-coal-project |url-status=live }}</ref><ref>{{Cite web |date=2022-01-08 |title=After Adani: whatever happened to Queensland's Galilee basin coal boom? |url=https://www.theguardian.com/australia-news/2022/jan/09/after-adani-whatever-happened-to-queenslands-galilee-basin-coal-boom |access-date=2022-08-18 |website=The Guardian |language=en |archive-date=18 August 2022 |archive-url=https://web.archive.org/web/20220818075052/https://www.theguardian.com/australia-news/2022/jan/09/after-adani-whatever-happened-to-queenslands-galilee-basin-coal-boom |url-status=live }}</ref> The Roy Hill Iron ore project, south of Port headline, in the Pilbara produces 60 million tonnes a year, with approvals pending to reach 70 million tonnes per annum.<ref>{{cite news|url=http://au.ibtimes.com/articles/279197/20120110/ascent-ginia-rinehart-family-business-empire.htm |title=The Ascent of Ginia Rinehart to the Family Business Empire |date=10 January 2012 |access-date=2 February 2012 |work=International Business Times |first=Vittorio |last=Hernandez |url-status=dead |archive-url=https://web.archive.org/web/20120119051703/http://au.ibtimes.com/articles/279197/20120110/ascent-ginia-rinehart-family-business-empire.htm |archive-date=19 January 2012 }}</ref><ref name=AFR>{{cite news|url=http://www.hancockprospecting.com.au/files/POSCO%20lifts%20stake%20in%20Hancock%27s%20Roy%20Hill.pdf|title=POSCO lifts stake in Hancock's Roy Hill|date=18 January 2012|first=James|last=Chessell|work=Australian Financial Review|access-date=2 February 2012|archive-url=https://web.archive.org/web/20120320130827/http://hancockprospecting.com.au/files/Ratings%20Agencies%20Endorse%20Roy%20Hill.pdf|archive-date=20 March 2012|url-status=dead}}</ref><ref name=THEWEST>{{cite news|url=http://www.hancockprospecting.com.au/files/Ratings%20Agencies%20Endorse%20Roy%20Hill.pdf|title=Ratings agencies endorse Roy Hill|first=Peter|last=Klinger|work=West Australian|date=19 January 2012|access-date=2 February 2012|url-status=dead|archive-url=https://web.archive.org/web/20120320130827/http://hancockprospecting.com.au/files/Ratings%20Agencies%20Endorse%20Roy%20Hill.pdf|archive-date=20 March 2012}}</ref> | ||
In 2010, Rinehart took a 10 per cent stake in ]; ] had acquired an 18 per cent stake in the same company shortly before. Since then she also acquired a substantial stake in ]. Rinehart was a major player in the media and no longer limits her interests to the mining business.<ref>{{cite news|url=http://www.theage.com.au/business/gina-rinehart-buys-stake-in-ten-20101122-183x9.html|title=Gina Rinehart buys stake in Ten|work=The Age|date=22 November 2010|access-date=5 January 2011|location=Australia}}</ref> In February 2012 she increased her stake in Fairfax to over 12 per cent, and became the largest shareholder of the company.<ref>{{cite news|url=http://www.theaustralian.com.au/media/share-raid-makes-gina-rinehart-biggest-stakeholder-in-fairfax/story-e6frg996-1226259722210|title=Share raid makes Gina Rinehart biggest stakeholder in Fairfax|author=Durie, John|work=The Australian|date=1 February 2012|access-date=1 February 2012}}</ref><ref>{{cite news|url=http://www.theaustralian.com.au/media/opinion/gina-rineharts-fairfax-interest-wont-give-her-control-of-mining-tax-debate/story-e6frg99o-1226263157111 |title=Gina Rinehart's Fairfax interest won't give her control of mining tax debate |author=Simper, Errol |work=The Australian|date=6 February 2012|access-date=7 February 2012}}</ref> Fairfax journalists were reportedly fearful that she wanted to turn them into a "mouthpiece for the mining industry".<ref>{{cite news |newspaper=] |date=30 June 2012 |title=Australia's media black night |page=33 }}</ref> In June 2012, she increased her stake further to 18.67 per cent, and was believed to be seeking three board seats and involvement in editorial decisions in Fairfax's newspaper division.<ref>{{cite news |url=http://www.smh.com.au/business/media-and-marketing/rinehart-steps-up-fairfax-board-battle-20120618-20jem.html |title=Rinehart steps up Fairfax board battle |author=Simpson, Kirsty |date=18 June 2012 |access-date=18 June 2012 |work=The Sydney Morning Herald }}</ref> Negotiations between Fairfax and Hancock Prospecting broke down in late June because of disagreements over Fairfax's editorial independence policy and other issues relating to board governance; chairman ] subsequently announced that Rinehart would not be offered any seats on the board.<ref>{{cite news|url=http://www.mediaspy.org/2012/06/27/no-deal-fairfax-wont-offer-gina-rinehart-a-board-seat/ |title=No deal: Fairfax won't offer Gina Rinehart a board seat |date=27 June 2012 |access-date=27 June 2012 |work=Media Spy |url-status=dead |archive-url=https://web.archive.org/web/20120630001410/http://www.mediaspy.org/2012/06/27/no-deal-fairfax-wont-offer-gina-rinehart-a-board-seat/ |archive-date=30 June 2012 }}</ref> After failing to get board representation she sold her shareholding in 2015.<ref name=Ferguson2>{{cite news|author-last=Ferguson |
In 2010, Rinehart took a 10 per cent stake in ]; ] had acquired an 18 per cent stake in the same company shortly before. Since then she also acquired a substantial stake in ]. Rinehart was a major player in the media and no longer limits her interests to the mining business.<ref>{{cite news|url=http://www.theage.com.au/business/gina-rinehart-buys-stake-in-ten-20101122-183x9.html|title=Gina Rinehart buys stake in Ten|work=The Age|date=22 November 2010|access-date=5 January 2011|location=Australia|archive-date=27 December 2010|archive-url=https://web.archive.org/web/20101227155004/http://www.theage.com.au/business/gina-rinehart-buys-stake-in-ten-20101122-183x9.html|url-status=live}}</ref> In February 2012 she increased her stake in Fairfax to over 12 per cent, and became the largest shareholder of the company.<ref>{{cite news|url=http://www.theaustralian.com.au/media/share-raid-makes-gina-rinehart-biggest-stakeholder-in-fairfax/story-e6frg996-1226259722210|title=Share raid makes Gina Rinehart biggest stakeholder in Fairfax|author=Durie, John|work=The Australian|date=1 February 2012|access-date=1 February 2012|archive-date=1 February 2012|archive-url=https://web.archive.org/web/20120201084647/http://www.theaustralian.com.au/media/share-raid-makes-gina-rinehart-biggest-stakeholder-in-fairfax/story-e6frg996-1226259722210|url-status=live}}</ref><ref>{{cite news |url=http://www.theaustralian.com.au/media/opinion/gina-rineharts-fairfax-interest-wont-give-her-control-of-mining-tax-debate/story-e6frg99o-1226263157111 |title=Gina Rinehart's Fairfax interest won't give her control of mining tax debate |author=Simper, Errol |work=The Australian |date=6 February 2012 |access-date=7 February 2012 |archive-date=6 February 2012 |archive-url=https://web.archive.org/web/20120206200937/http://www.theaustralian.com.au/media/opinion/gina-rineharts-fairfax-interest-wont-give-her-control-of-mining-tax-debate/story-e6frg99o-1226263157111 |url-status=live }}</ref> Fairfax journalists were reportedly fearful that she wanted to turn them into a "mouthpiece for the mining industry".<ref>{{cite news |newspaper=] |date=30 June 2012 |title=Australia's media black night |page=33 }}</ref> In June 2012, she increased her stake further to 18.67 per cent, and was believed to be seeking three board seats and involvement in editorial decisions in Fairfax's newspaper division.<ref>{{cite news |url=http://www.smh.com.au/business/media-and-marketing/rinehart-steps-up-fairfax-board-battle-20120618-20jem.html |title=Rinehart steps up Fairfax board battle |author=Simpson, Kirsty |date=18 June 2012 |access-date=18 June 2012 |work=The Sydney Morning Herald |archive-date=18 June 2012 |archive-url=https://web.archive.org/web/20120618172745/http://www.smh.com.au/business/media-and-marketing/rinehart-steps-up-fairfax-board-battle-20120618-20jem.html |url-status=live }}</ref> Negotiations between Fairfax and Hancock Prospecting broke down in late June because of disagreements over Fairfax's editorial independence policy and other issues relating to board governance; chairman ] subsequently announced that Rinehart would not be offered any seats on the board.<ref>{{cite news|url=http://www.mediaspy.org/2012/06/27/no-deal-fairfax-wont-offer-gina-rinehart-a-board-seat/ |title=No deal: Fairfax won't offer Gina Rinehart a board seat |date=27 June 2012 |access-date=27 June 2012 |work=Media Spy |url-status=dead |archive-url=https://web.archive.org/web/20120630001410/http://www.mediaspy.org/2012/06/27/no-deal-fairfax-wont-offer-gina-rinehart-a-board-seat/ |archive-date=30 June 2012 }}</ref> After failing to get board representation she sold her shareholding in 2015.<ref name=Ferguson2>{{cite news|author-last=Ferguson|author-first=Adele|author-link=Adele Ferguson|title=Rinehart's exit from Fairfax merely a matter of waning interest|url=http://www.smh.com.au/business/media-and-marketing/rineharts-exit-from-fairfax-merely-a-matter-of-waning-interest-20150207-138lwl.html|access-date=9 February 2015|work=The Sydney Morning Herald|date=8 February 2015|archive-date=8 February 2015|archive-url=https://web.archive.org/web/20150208140956/http://www.smh.com.au/business/media-and-marketing/rineharts-exit-from-fairfax-merely-a-matter-of-waning-interest-20150207-138lwl.html|url-status=live}}</ref><ref name="Thompson et al">{{cite news|author1=Thompson, Sarah|author2=Macdonald, Anthony|author3=Mitchell, Jake|title=Gina Rinehart sells out of Fairfax Media|url=http://www.smh.com.au/business/media-and-marketing/gina-rinehart-sells-out-of-fairfax-media-20150206-138b5i.html|access-date=9 February 2015|work=The Sydney Morning Herald|date=6 February 2015|archive-date=8 February 2015|archive-url=https://web.archive.org/web/20150208114956/http://www.smh.com.au/business/media-and-marketing/gina-rinehart-sells-out-of-fairfax-media-20150206-138b5i.html|url-status=live}}</ref> | ||
In 2015, Rinehart was listed as the 37{{small|th}}-most-powerful woman in the world by ''Forbes''; a decline from her 2014 and 2013 rankings as the 27{{small|th}}- and the 16{{small|th}}-most-powerful woman, respectively.<ref name=Forbes14>{{cite web|title=The World's 100 Most Powerful Women|url=https://www.forbes.com/power-women/list/#tab:overall|work=Forbes|access-date=24 June 2014}}</ref><ref name=ForbesGH>{{cite web|title=#37 Gina Rinehart|url=https://www.forbes.com/profile/gina-rinehart/|work=The World's 100 Most Powerful Women|access-date=9 June 2015}}</ref> | In 2015, Rinehart was listed as the 37{{small|th}}-most-powerful woman in the world by ''Forbes''; a decline from her 2014 and 2013 rankings as the 27{{small|th}}- and the 16{{small|th}}-most-powerful woman, respectively.<ref name=Forbes14>{{cite web|title=The World's 100 Most Powerful Women|url=https://www.forbes.com/power-women/list/#tab:overall|work=Forbes|access-date=24 June 2014|archive-date=19 February 2020|archive-url=https://web.archive.org/web/20200219174903/https://www.forbes.com/power-women/list/#tab:overall|url-status=live}}</ref><ref name=ForbesGH>{{cite web|title=#37 Gina Rinehart|url=https://www.forbes.com/profile/gina-rinehart/|work=The World's 100 Most Powerful Women|access-date=9 June 2015|archive-date=8 April 2020|archive-url=https://web.archive.org/web/20200408014152/https://www.forbes.com/profile/gina-rinehart/|url-status=live}}</ref> | ||
Later the same year, Rinehart acquired ] after it was placed on the market for the first time in 133 years. The {{convert|4000|km2|sqmi|0|adj=on}} property was stocked with 15,000 head of cattle and the sale price was not disclosed,<ref name="ABC News-2015">{{cite news|url=http://www.abc.net.au/news/2015-07-26/gina-rinehart-buying-kimberley-cattle-station/6648954|title=Gina Rinehart buys iconic Kimberley cattle station Fossil Downs|newspaper=ABC News|date=27 July 2015|access-date=28 July 2015|publisher=]}}</ref> but it was estimated to be between {{AUD}}25 to 30 million.<ref>{{cite news|url=http://www.abc.net.au/news/2015-07-27/rinehart-out-bids-global-interest-in-fossil-downs-estate-agent/6651636|title=Gina Rinehart out-bids 'unprecedented' global and domestic interest in Fossil Downs Station: estate agent|author=Belinda Varischetti|work=ABC Rural|date=27 July 2015|access-date=28 July 2015|publisher=]}}</ref> Rinehart had acquired a 50% stake in ] and Nerrima Stations in 2014 for {{AUD}}40 million.<ref name="ABC News-2015"/> | Later the same year, Rinehart acquired ] after it was placed on the market for the first time in 133 years. The {{convert|4000|km2|sqmi|0|adj=on}} property was stocked with 15,000 head of cattle and the sale price was not disclosed,<ref name="ABC News-2015">{{cite news|url=http://www.abc.net.au/news/2015-07-26/gina-rinehart-buying-kimberley-cattle-station/6648954|title=Gina Rinehart buys iconic Kimberley cattle station Fossil Downs|newspaper=ABC News|date=27 July 2015|access-date=28 July 2015|publisher=]|archive-date=28 July 2015|archive-url=https://web.archive.org/web/20150728043942/http://www.abc.net.au/news/2015-07-26/gina-rinehart-buying-kimberley-cattle-station/6648954|url-status=live}}</ref> but it was estimated to be between {{AUD}}25 to 30 million.<ref>{{cite news|url=http://www.abc.net.au/news/2015-07-27/rinehart-out-bids-global-interest-in-fossil-downs-estate-agent/6651636|title=Gina Rinehart out-bids 'unprecedented' global and domestic interest in Fossil Downs Station: estate agent|author=Belinda Varischetti|work=ABC Rural|date=27 July 2015|access-date=28 July 2015|publisher=]|archive-date=29 July 2015|archive-url=https://web.archive.org/web/20150729002851/http://www.abc.net.au/news/2015-07-27/rinehart-out-bids-global-interest-in-fossil-downs-estate-agent/6651636|url-status=live}}</ref> Rinehart had acquired a 50% stake in ] and Nerrima Stations in 2014 for {{AUD}}40 million.<ref name="ABC News-2015"/> | ||
In October 2015, Rinehart planned to open the huge Roy Hill mine just eight months after she secured {{AUD}}7.9 billion in funding. Initial shipments of iron ore were sent to China. In October 2016, it was announced that Hancock Prospecting had struck a deal to invest in AIM-listed UK-based mining company Sirius Minerals to help bring to fruition their North Yorkshire Polyhalite Project.<ref>{{cite web|url=http://www.smartcompany.com.au/finance/48508-gina-rinehart-s-roy-hill-mine-to-ship-iron-ore-volkswagen-chief-resigns-over-emissions-testing-scandal-midday-roundup.html|title=Gina Rinehart's Roy Hill mine to ship iron ore|publisher=Smart Company|date=24 September 2015|access-date=4 October 2015|archive-date=5 October 2015|archive-url=https://web.archive.org/web/20151005045706/http://www.smartcompany.com.au/finance/48508-gina-rinehart-s-roy-hill-mine-to-ship-iron-ore-volkswagen-chief-resigns-over-emissions-testing-scandal-midday-roundup.html|url-status=dead}}</ref> | In October 2015, Rinehart planned to open the huge Roy Hill mine just eight months after she secured {{AUD}}7.9 billion in funding. Initial shipments of iron ore were sent to China. In October 2016, it was announced that Hancock Prospecting had struck a deal to invest in AIM-listed UK-based mining company Sirius Minerals to help bring to fruition their North Yorkshire Polyhalite Project.<ref>{{cite web|url=http://www.smartcompany.com.au/finance/48508-gina-rinehart-s-roy-hill-mine-to-ship-iron-ore-volkswagen-chief-resigns-over-emissions-testing-scandal-midday-roundup.html|title=Gina Rinehart's Roy Hill mine to ship iron ore|publisher=Smart Company|date=24 September 2015|access-date=4 October 2015|archive-date=5 October 2015|archive-url=https://web.archive.org/web/20151005045706/http://www.smartcompany.com.au/finance/48508-gina-rinehart-s-roy-hill-mine-to-ship-iron-ore-volkswagen-chief-resigns-over-emissions-testing-scandal-midday-roundup.html|url-status=dead}}</ref> | ||
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==Political activities== | ==Political activities== | ||
In the 1970s, Rinehart was an active supporter of the ], which her father had founded to work for the secession of Western Australia from the rest of the country.<ref>, '']'', 16 June 1975</ref> She also had some involvement with the Workers Party (later renamed the ]), a ] organisation founded by businessman ].<ref>, '']'', November 2012.</ref><ref>, '']'', 7 September 2012</ref> | In the 1970s, Rinehart was an active supporter of the ], which her father had founded to work for the secession of Western Australia from the rest of the country.<ref> {{Webarchive|url=https://web.archive.org/web/20200322182651/https://economics.org.au/2012/04/gina-rinehart-secessionist/ |date=22 March 2020 }}, '']'', 16 June 1975</ref> She also had some involvement with the Workers Party (later renamed the ]), a ] organisation founded by businessman ].<ref>, '']'', November 2012.</ref><ref> {{Webarchive|url=https://web.archive.org/web/20190221121415/https://www.theaustralian.com.au/business/opinion/the-truth-hurts-especially-when-so-unfashionable/news-story/13aef561de06841ae979b4b25dc698fe |date=21 February 2019 }}, '']'', 7 September 2012</ref> | ||
Rinehart opposed the Rudd government's ] and ] as part of a group of mining magnates that included ].<ref>{{cite news|last=Hewett|first=Jennifer|title=Gina Rinehart joins anti-tax chorus|url=http://www.theaustralian.com.au/business/gina-rinehart-joins-anti-tax-chorus/story-e6frg8zx-1225873758474|work=The Australian|date=1 June 2010 |access-date=28 May 2011}}</ref> She founded the lobby group ANDEV, ("Australians for Northern Development and Economic Vision")<ref>{{cite web|url=http://www.andev-project.org/about/ |title=About ANDEV |publisher=Australians for Northern Development & Economic Vision |year=2011 |access-date=27 July 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110517164346/http://www.andev-project.org/about/ |archive-date=17 May 2011 }}</ref> and has sponsored the trips of prominent ] ] to Australia.<ref>{{cite web|url= |
Rinehart opposed the Rudd government's ] and ] as part of a group of mining magnates that included ].<ref>{{cite news|last=Hewett|first=Jennifer|title=Gina Rinehart joins anti-tax chorus|url=http://www.theaustralian.com.au/business/gina-rinehart-joins-anti-tax-chorus/story-e6frg8zx-1225873758474|work=The Australian|date=1 June 2010 |access-date=28 May 2011}}</ref> She founded the lobby group ANDEV, ("Australians for Northern Development and Economic Vision")<ref>{{cite web|url=http://www.andev-project.org/about/ |title=About ANDEV |publisher=Australians for Northern Development & Economic Vision |year=2011 |access-date=27 July 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110517164346/http://www.andev-project.org/about/ |archive-date=17 May 2011 }}</ref> and has sponsored the trips of prominent ] ] to Australia.<ref>{{cite web |url=http://www.themonthly.com.au/blog-lord-monckton-and-future-australian-media-robert-manne-4575 |title=Lord Monckton and the Future of Australian Media |first=Robert |last=Manne |work=The Monthly |location=Australia |date=8 February 2012 |access-date=8 February 2012 |archive-date=8 February 2012 |archive-url=https://web.archive.org/web/20120208173103/http://www.themonthly.com.au/blog-lord-monckton-and-future-australian-media-robert-manne-4575 |url-status=live }}</ref><ref>{{cite news |url=http://www.abc.net.au/rn/backgroundbriefing/stories/2011/3268730.htm |title=The Lord Monckton roadshow |work=Background Briefing |publisher=ABC Radio |location=Australia |date=19 July 2011 |access-date=27 July 2011 |format=transcript |archive-date=21 July 2011 |archive-url=https://web.archive.org/web/20110721232731/http://www.abc.net.au/rn/backgroundbriefing/stories/2011/3268730.htm |url-status=live }}</ref> In October 2021, Rinehart garnered controversy after expressing climate change denialist views during a speech at her childhood primary school.<ref>{{cite news|last=YouTube|first=Supplied|date=2021-10-07|title='Facts may not be popular': Gina Rinehart's speech to Perth private school draws criticism from leading climate scientist|language=en-AU|work=]|url=https://www.abc.net.au/news/2021-10-07/wa-gina-ruffles-feathers-with-climate-speech/100520836|access-date=2021-10-09|archive-date=9 October 2021|archive-url=https://web.archive.org/web/20211009122551/https://www.abc.net.au/news/2021-10-07/wa-gina-ruffles-feathers-with-climate-speech/100520836|url-status=live}}</ref> | ||
Since 2010 Rinehart has been actively promoting the cause of development of Australia's north and has spoken, written articles and published a book on this topic.<ref>{{cite book|last=Rinehart|first=Gina|title=Northern Australia and then some: Changes we need to make our country rich|year=2012|publisher=Executive Media Pty Ltd|isbn=9781921345258|url=http://www.andev-project.org/resources/book-launch-media-pack/}}</ref> Rinehart stresses that Australia must do more to welcome investment and improve its cost competitiveness, particularly when Australia faces record debt. She advocates a special economic zone in the North with reduced taxation and less regulations and has enlisted the support of many prominent Australians, plus the ].<ref>{{cite news|last=Creighton|first=Adam|title=Southern red tape hobbles Top End's great leap forward|url=http://www.theaustralian.com.au/national-affairs/southern-red-tape-hobbles-top-ends-great-leap-forward/story-fn59niix-1226613569719|access-date=18 April 2013|newspaper=The Australian|date=6 April 2013}}</ref> In a 2012 article in the ''Australian Resources and Investment Magazine'', Rinehart said that if people wanted to have more money they should "stop whingeing" and "Do something to make more money yourself − spend less time drinking or smoking and socialising, and more time working". She criticised what she saw as the "socialist" policies of the ] of "high taxes" and "excessive regulation".<ref>{{cite news |work=The Courier Mail |date=30 August 2012 |title=Gina Rinehart tells whingers: Get out of the pub |url=http://www.couriermail.com.au/business/gina-rinehart-tells-whingers-get-out-of-the-pub/story-fn7kjcme-1226461328341 |access-date=31 August 2012}}</ref> | Since 2010 Rinehart has been actively promoting the cause of development of Australia's north and has spoken, written articles and published a book on this topic.<ref>{{cite book|last=Rinehart|first=Gina|title=Northern Australia and then some: Changes we need to make our country rich|year=2012|publisher=Executive Media Pty Ltd|isbn=9781921345258|url=http://www.andev-project.org/resources/book-launch-media-pack/|access-date=18 April 2013|archive-date=22 March 2020|archive-url=https://web.archive.org/web/20200322182640/http://www.andev-project.org/resources/book-launch-media-pack/|url-status=live}}</ref> Rinehart stresses that Australia must do more to welcome investment and improve its cost competitiveness, particularly when Australia faces record debt. She advocates a special economic zone in the North with reduced taxation and less regulations and has enlisted the support of many prominent Australians, plus the ].<ref>{{cite news|last=Creighton|first=Adam|title=Southern red tape hobbles Top End's great leap forward|url=http://www.theaustralian.com.au/national-affairs/southern-red-tape-hobbles-top-ends-great-leap-forward/story-fn59niix-1226613569719|access-date=18 April 2013|newspaper=The Australian|date=6 April 2013|archive-date=14 April 2013|archive-url=https://web.archive.org/web/20130414161518/http://www.theaustralian.com.au/national-affairs/southern-red-tape-hobbles-top-ends-great-leap-forward/story-fn59niix-1226613569719|url-status=live}}</ref> In a 2012 article in the ''Australian Resources and Investment Magazine'', Rinehart said that if people wanted to have more money they should "stop whingeing" and "Do something to make more money yourself − spend less time drinking or smoking and socialising, and more time working". She criticised what she saw as the "socialist" policies of the ] of "high taxes" and "excessive regulation".<ref>{{cite news |work=The Courier Mail |date=30 August 2012 |title=Gina Rinehart tells whingers: Get out of the pub |url=http://www.couriermail.com.au/business/gina-rinehart-tells-whingers-get-out-of-the-pub/story-fn7kjcme-1226461328341 |access-date=31 August 2012 |archive-date=19 June 2015 |archive-url=https://web.archive.org/web/20150619045552/http://www.couriermail.com.au/business/gina-rinehart-tells-whingers-get-out-of-the-pub/story-fn7kjcme-1226461328341 |url-status=live }}</ref> | ||
{{ external media | {{ external media | ||
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| video2 = , ] | | video2 = , ] | ||
}} | }} | ||
In a video posted to the ]'s YouTube channel on 23 August 2012, Rinehart expressed concern for Australia's economic competitiveness, noting how "Indeed if we competed in the Olympic Games as sluggishly as we compete economically, there would be an outcry."<ref name="Rinehart-2012">{{cite web |last=Rinehart |first=Gina |date=23 August 2012 |title=Gina Rinehart |url=https://www.youtube.com/watch?v=B3CcxRbFiLg |url-status=dead |publisher=Sydney Mining Club |via=YouTube |access-date=27 November 2016 |archive-date=28 February 2017 |archive-url=https://web.archive.org/web/20170228075222/https://www.youtube.com/watch?v=B3CcxRbFiLg }}</ref> She said, "Furthermore, Africans want to work, and its workers are willing to work for less than two dollars a day. Such statistics make me worry for this country's future."<ref name="Rinehart-2012"/>{{Dead link|date=July 2023}} Rinehart's views were dismissed by the Australian Prime Minister, ], who said that "It's not the Australian way to toss people $2, to toss them a gold coin, and then ask them to work for a day" and that "we support proper Australian wages and decent working conditions."<ref>{{cite news|last=Kennedy|first=Duncan|title=Gina Rinehart calls for Australian wage cut|url=https://www.bbc.co.uk/news/business-19487985|publisher=BBC|date=5 September 2012}}</ref> The Australian Deputy Prime Minister and Treasurer at the time, ], described Rinehart's statement as an "insult to the millions of Australian workers who go to work and slog it out to feed the kids and pay the bills."<ref name=Memmott>{{cite news|last=Memmott|first=Mark|title=Billionaire Slammed After Musing About Workers Paid $2 A Day|url=https://www.npr.org/blogs/thetwo-way/2012/09/05/160614909/asias-richest-woman-slammed-after-musing-about-workers-paid-2-a-day|publisher=NPR|date=5 September 2012}}</ref> | In a video posted to the ]'s YouTube channel on 23 August 2012, Rinehart expressed concern for Australia's economic competitiveness, noting how "Indeed if we competed in the Olympic Games as sluggishly as we compete economically, there would be an outcry."<ref name="Rinehart-2012">{{cite web |last=Rinehart |first=Gina |date=23 August 2012 |title=Gina Rinehart |url=https://www.youtube.com/watch?v=B3CcxRbFiLg |url-status=dead |publisher=Sydney Mining Club |via=YouTube |access-date=27 November 2016 |archive-date=28 February 2017 |archive-url=https://web.archive.org/web/20170228075222/https://www.youtube.com/watch?v=B3CcxRbFiLg }}</ref> She said, "Furthermore, Africans want to work, and its workers are willing to work for less than two dollars a day. Such statistics make me worry for this country's future."<ref name="Rinehart-2012"/>{{Dead link|date=July 2023}} Rinehart's views were dismissed by the Australian Prime Minister, ], who said that "It's not the Australian way to toss people $2, to toss them a gold coin, and then ask them to work for a day" and that "we support proper Australian wages and decent working conditions."<ref>{{cite news|last=Kennedy|first=Duncan|title=Gina Rinehart calls for Australian wage cut|url=https://www.bbc.co.uk/news/business-19487985|publisher=BBC|date=5 September 2012|access-date=20 June 2018|archive-date=10 December 2016|archive-url=https://web.archive.org/web/20161210154846/http://www.bbc.co.uk/news/business-19487985|url-status=live}}</ref> The Australian Deputy Prime Minister and Treasurer at the time, ], described Rinehart's statement as an "insult to the millions of Australian workers who go to work and slog it out to feed the kids and pay the bills."<ref name=Memmott>{{cite news|last=Memmott|first=Mark|title=Billionaire Slammed After Musing About Workers Paid $2 A Day|url=https://www.npr.org/blogs/thetwo-way/2012/09/05/160614909/asias-richest-woman-slammed-after-musing-about-workers-paid-2-a-day|publisher=NPR|date=5 September 2012|access-date=3 April 2018|archive-date=2 May 2015|archive-url=https://web.archive.org/web/20150502143525/http://www.npr.org/blogs/thetwo-way/2012/09/05/160614909/asias-richest-woman-slammed-after-musing-about-workers-paid-2-a-day|url-status=live}}</ref> | ||
Rinehart is a supporter of ].<ref>{{Cite web |last=Sambul |first=Najma |date=2022-11-16 |title=Gina Rinehart shows up at Donald Trump's campaign launch |url=https://www.smh.com.au/world/north-america/gina-rinehart-shows-up-at-donald-trump-s-campaign-launch-20221116-p5byxz.html |access-date=2022-11-16 |website=The Sydney Morning Herald |language=en}}</ref> | Rinehart is a supporter of ].<ref>{{Cite web |last=Sambul |first=Najma |date=2022-11-16 |title=Gina Rinehart shows up at Donald Trump's campaign launch |url=https://www.smh.com.au/world/north-america/gina-rinehart-shows-up-at-donald-trump-s-campaign-launch-20221116-p5byxz.html |access-date=2022-11-16 |website=The Sydney Morning Herald |language=en |archive-date=16 November 2022 |archive-url=https://web.archive.org/web/20221116122609/https://www.smh.com.au/world/north-america/gina-rinehart-shows-up-at-donald-trump-s-campaign-launch-20221116-p5byxz.html |url-status=live }}</ref> | ||
== Hope Margaret Hancock Trust == | == Hope Margaret Hancock Trust == | ||
In 1988, Lang Hancock established the Hope Margaret Hancock Trust, nominating Rinehart as ], with his four grandchildren named as ].<ref name="Pennells, Steve-2011">{{cite news |url=http://www.smh.com.au/national/rineharts-children-win-first-round-20111007-1ldw9.html |title=Rinehart's children win first round |author1=Hall, Louise |author2=Pennells, Steve |date=8 October 2011 |work=The Sydney Morning Herald|access-date=8 October 2011 }}</ref> Gina Rinehart was appointed to run the trust until the youngest of her four children, Ginia Rinehart, turned 25 in 2011.<ref name="The Wall Street Journal-2015">{{cite news|url=https://www.wsj.com/articles/bianca-rinehart-gets-control-of-hope-margaret-hancock-trust-1432798683|date=28 May 2015|title=Bianca Rinehart Gets Control of Hope Margaret Hancock Trust|work=The Wall Street Journal|access-date=7 June 2015}}</ref> The Trust owns 23.6% of the shares in Hancock Prospecting,<ref>{{cite news|url=http://www.theaustralian.com.au/national-affairs/my-kids-are-not-up-to-it-gina-rinehart/story-fn59niix-1226297616472|title=My kids are not up to it: Gina Rinehart|author=Shanahan, Leo|work=The Australian|date=13 March 2012|access-date=7 June 2015}}</ref> and {{as of|June 2015|lc=y}} was believed to be valued at about {{AUD}}5 billion.<ref name="The Wall Street Journal-2015"/> | In 1988, Lang Hancock established the Hope Margaret Hancock Trust, nominating Rinehart as ], with his four grandchildren named as ].<ref name="Pennells, Steve-2011">{{cite news |url=http://www.smh.com.au/national/rineharts-children-win-first-round-20111007-1ldw9.html |title=Rinehart's children win first round |author1=Hall, Louise |author2=Pennells, Steve |date=8 October 2011 |work=The Sydney Morning Herald |access-date=8 October 2011 |archive-date=19 October 2011 |archive-url=https://web.archive.org/web/20111019155850/http://www.smh.com.au/national/rineharts-children-win-first-round-20111007-1ldw9.html |url-status=live }}</ref> Gina Rinehart was appointed to run the trust until the youngest of her four children, Ginia Rinehart, turned 25 in 2011.<ref name="The Wall Street Journal-2015">{{cite news|url=https://www.wsj.com/articles/bianca-rinehart-gets-control-of-hope-margaret-hancock-trust-1432798683|date=28 May 2015|title=Bianca Rinehart Gets Control of Hope Margaret Hancock Trust|work=The Wall Street Journal|access-date=7 June 2015|archive-date=6 June 2015|archive-url=https://web.archive.org/web/20150606140710/http://www.wsj.com/articles/bianca-rinehart-gets-control-of-hope-margaret-hancock-trust-1432798683|url-status=live}}</ref> The Trust owns 23.6% of the shares in Hancock Prospecting,<ref>{{cite news|url=http://www.theaustralian.com.au/national-affairs/my-kids-are-not-up-to-it-gina-rinehart/story-fn59niix-1226297616472|title=My kids are not up to it: Gina Rinehart|author=Shanahan, Leo|work=The Australian|date=13 March 2012|access-date=7 June 2015|archive-date=23 May 2016|archive-url=https://web.archive.org/web/20160523152845/http://www.theaustralian.com.au/national-affairs/my-kids-are-not-up-to-it-gina-rinehart/story-fn59niix-1226297616472|url-status=live}}</ref> and {{as of|June 2015|lc=y}} was believed to be valued at about {{AUD}}5 billion.<ref name="The Wall Street Journal-2015"/> | ||
In 2011, Rinehart's daughter, Hope Rinehart Welker, commenced a commercial action in the ] for reasons understood to be related to the conduct of the trustee.<ref>{{cite news |url=http://www.heraldsun.com.au/news/more-news/gina-rineharts-billion-dollar-family-rift/story-fn7x8me2-1226297549792 |title=Australia's richest woman Gina Rinehart accused of offering her eldest daughter money to drop legal action|author=Dale, Amy|date=13 March 2012|work=]|access-date=13 March 2012 }}</ref> The action sought to remove Rinehart as sole trustee. Her brother, John, and sister, Bianca, were later revealed as parties to the dispute.<ref name="Hall, Louise-2011" /><ref name="WA-2011-09-09">{{cite news|author1=Pennells, Steve|author2=Hall, Louise|url=http://au.news.yahoo.com/thewest/a/-/breaking/10222241/gina-rinehart-sued-by-daughter/|title=Gina Rinehart sued by daughter|work=The West Australian|date=9 September 2011|access-date=9 September 2011|archive-date=30 September 2012|archive-url=https://web.archive.org/web/20120930122842/http://au.news.yahoo.com/thewest/a/-/breaking/10222241/gina-rinehart-sued-by-daughter/|url-status=dead}}</ref><ref name="Aust-2011-09-09">{{cite news |
In 2011, Rinehart's daughter, Hope Rinehart Welker, commenced a commercial action in the ] for reasons understood to be related to the conduct of the trustee.<ref>{{cite news |url=http://www.heraldsun.com.au/news/more-news/gina-rineharts-billion-dollar-family-rift/story-fn7x8me2-1226297549792 |title=Australia's richest woman Gina Rinehart accused of offering her eldest daughter money to drop legal action|author=Dale, Amy|date=13 March 2012|work=]|access-date=13 March 2012 }}</ref> The action sought to remove Rinehart as sole trustee. Her brother, John, and sister, Bianca, were later revealed as parties to the dispute.<ref name="Hall, Louise-2011" /><ref name="WA-2011-09-09">{{cite news|author1=Pennells, Steve|author2=Hall, Louise|url=http://au.news.yahoo.com/thewest/a/-/breaking/10222241/gina-rinehart-sued-by-daughter/|title=Gina Rinehart sued by daughter|work=The West Australian|date=9 September 2011|access-date=9 September 2011|archive-date=30 September 2012|archive-url=https://web.archive.org/web/20120930122842/http://au.news.yahoo.com/thewest/a/-/breaking/10222241/gina-rinehart-sued-by-daughter/|url-status=dead}}</ref><ref name="Aust-2011-09-09">{{cite news|url=http://www.theaustralian.com.au/business/another-family-feud-for-gina-rinehart/story-e6frg8zx-1226132702112|author1=Shanahan, Leo|author2=Burrell, Andrew|work=The Australian|title=Another family feud for Gina Rinehart|date=9 September 2011|access-date=9 September 2011|agency=Australian Associated Press|archive-date=8 September 2011|archive-url=https://web.archive.org/web/20110908164347/http://www.theaustralian.com.au/business/another-family-feud-for-gina-rinehart/story-e6frg8zx-1226132702112|url-status=live}}</ref> | ||
In an agreement reached between the parties, the Court granted an interim non-publication order in September 2011. In making the interim order, ] Paul Brereton stated: "This is not the first occasion of discord in the family, which has immense wealth, no small part of which resides in the trust. In the past, the affairs of the family, including such discord, has attracted considerable publicity in the media."<ref name="Aust-2011-09-14">{{cite news |
In an agreement reached between the parties, the Court granted an interim non-publication order in September 2011. In making the interim order, ] Paul Brereton stated: "This is not the first occasion of discord in the family, which has immense wealth, no small part of which resides in the trust. In the past, the affairs of the family, including such discord, has attracted considerable publicity in the media."<ref name="Aust-2011-09-14">{{cite news|url=http://www.theaustralian.com.au/business/media/rinehart-gags-media-on-family-trust-fund-dispute/story-e6frg996-1226136194559|title=Rinehart gags media on family trust fund dispute|author=Shanahan, Leo|date=14 September 2011|work=The Australian|access-date=15 September 2011|archive-date=14 September 2011|archive-url=https://web.archive.org/web/20110914113524/http://www.theaustralian.com.au/business/media/rinehart-gags-media-on-family-trust-fund-dispute/story-e6frg996-1226136194559|url-status=live}}</ref> Then, in a judgement handed down on 7 October 2011, Justice Brereton stated that he intended to dismiss an application by Rinehart, that there be a ] on court action, and that the family be directed into mediation.<ref name="Pennells, Steve-2011"/><ref>{{cite news |url=http://www.theaustralian.com.au/news/nation/gina-rineharts-children-in-bid-to-oust-their-mother/story-e6frg6nf-1226161605719 |title=Gina Rinehart's children in bid to oust their mother |work=The Australian |date=8 October 2011 |access-date=8 October 2011 |author=Madden, James |archive-date=7 October 2011 |archive-url=https://web.archive.org/web/20111007145641/http://www.theaustralian.com.au/news/nation/gina-rineharts-children-in-bid-to-oust-their-mother/story-e6frg6nf-1226161605719 |url-status=live }}</ref> In December 2011, three justices of the ] lifted the suppression orders on the case. However, a stay was granted until 3 February 2012<ref>{{cite news |url=http://www.smh.com.au/business/airing-of-dirty-linen-to-come-in-three-weeks-20120113-1pzbb.html |title=Airing of dirty linen to come in three weeks |author=Hall, Louise |work=The Sydney Morning Herald |date=14 January 2012 |access-date=2 February 2012 |archive-date=15 February 2012 |archive-url=https://web.archive.org/web/20120215111246/http://www.smh.com.au/business/airing-of-dirty-linen-to-come-in-three-weeks-20120113-1pzbb.html |url-status=live }}</ref> and extended by the ] until 9 March 2012. Rinehart's application for suppression was supported by Ginia Rinehart, but was opposed by Hope, John and Bianca.<ref>{{cite news|url=http://www.smh.com.au/national/family-feud-details-to-stay-secret-for-at-least-five-more-weeks-20120201-1qtic.html|title=Family feud details to stay secret for at least five more weeks|author=Hall, Louise|date=2 February 2012|access-date=2 February 2012|work=The Sydney Morning Herald|archive-date=5 April 2012|archive-url=https://web.archive.org/web/20120405230522/http://www.smh.com.au/national/family-feud-details-to-stay-secret-for-at-least-five-more-weeks-20120201-1qtic.html|url-status=live}}</ref> A subsequent application by Rinehart for a non-publication order on the grounds of fear of personal and family safety was dismissed by the NSW Supreme Court on 2 February 2012.<ref>{{cite news|url=http://www.theaustralian.com.au/news/nation/gina-rineharts-safety-at-risk-court-told-in-suppression-bid/story-e6frg6nf-1226261131900|date=2 February 2012|access-date=2 February 2012|work=The Australian|title=Gina Rinehart's safety 'at risk', court told in suppression bid|author=Robinson, Natasha|archive-date=2 February 2012|archive-url=https://web.archive.org/web/20120202130452/http://www.theaustralian.com.au/news/nation/gina-rineharts-safety-at-risk-court-told-in-suppression-bid/story-e6frg6nf-1226261131900|url-status=live}}</ref> In March 2012, when the suppression order was lifted, it was revealed that Rinehart had delayed the ] date of the trust, which had prompted the court action by her three older children.<ref>{{cite news|url=http://www.news.com.au/business/days-away-from-being-billionaires-gina-rinehart-locks-trust-for-half-a-century/story-e6frfm1i-1226297628893|title=Days away from being billionaires, Gina Rinehart locks trust for half a century|author=Dale, Amy|date=13 March 2012|access-date=13 March 2012|work=The Daily Telegraph|location=Australia|archive-date=14 October 2013|archive-url=https://web.archive.org/web/20131014081200/http://www.news.com.au/business/days-away-from-being-billionaires-gina-rinehart-locks-trust-for-half-a-century/story-e6frfm1i-1226297628893|url-status=dead}}</ref> | ||
Rinehart stood down as trustee during the hearing in October 2013.<ref name="Ferguson4">{{cite news|url=http://www.smh.com.au/business/family-feud-over-matters-of-trust-20131011-2vdyt.html|work=The Sydney Morning Herald|title=Family feud over matters of trust |author-last=Ferguson |author-first=Adele |author-link=Adele Ferguson |date=12 October 2013}}</ref> While Rinehart's lawyers subsequently declared any legal matters closed, John and Bianca's legal representatives proceeded with a trial in the NSW Supreme Court to deal with allegations of misconduct.<ref>{{cite news|title=Gina Rinehart exits bitter family row over trust|url=http://www.theaustralian.com.au/business/gina-rinehart-exits-bitter-family-row-over-trust/story-e6frg8zx-1226731190448?from=public_rss&net_sub_uid=44933799|access-date=1 October 2013|newspaper=The Australian|date=2 October 2013|author=Shanahan, Leo}}</ref> The Court handed down its decision on 28 May 2015 in which Bianca was appointed as the new trustee.<ref name="The Wall Street Journal-2015"/><ref name="BRW 2015 precarious">{{cite journal |url=http://www.brw.com.au/p/lists/rich-200/2015/gina_rinehart_precarious_position_dSW3BeSTjReSg9kqRadg3J |title=Gina Rinehart's precarious position atop the BRW Rich 200 list |author-last=Ferguson |author-first=Adele |author-link=Adele Ferguson |date=28 May 2015 |access-date=9 June 2015 |journal=BRW |location=Sydney |archive-date=20 March 2016 |archive-url=https://web.archive.org/web/20160320121912/http://www.brw.com.au/p/lists/rich-200/2015/gina_rinehart_precarious_position_dSW3BeSTjReSg9kqRadg3J |url-status=dead }}</ref> | Rinehart stood down as trustee during the hearing in October 2013.<ref name="Ferguson4">{{cite news |url=http://www.smh.com.au/business/family-feud-over-matters-of-trust-20131011-2vdyt.html |work=The Sydney Morning Herald |title=Family feud over matters of trust |author-last=Ferguson |author-first=Adele |author-link=Adele Ferguson |date=12 October 2013 |access-date=28 October 2013 |archive-date=15 October 2013 |archive-url=https://web.archive.org/web/20131015031003/http://www.smh.com.au/business/family-feud-over-matters-of-trust-20131011-2vdyt.html |url-status=live }}</ref> While Rinehart's lawyers subsequently declared any legal matters closed, John and Bianca's legal representatives proceeded with a trial in the NSW Supreme Court to deal with allegations of misconduct.<ref>{{cite news|title=Gina Rinehart exits bitter family row over trust|url=http://www.theaustralian.com.au/business/gina-rinehart-exits-bitter-family-row-over-trust/story-e6frg8zx-1226731190448?from=public_rss&net_sub_uid=44933799|access-date=1 October 2013|newspaper=The Australian|date=2 October 2013|author=Shanahan, Leo}}</ref> The Court handed down its decision on 28 May 2015 in which Bianca was appointed as the new trustee.<ref name="The Wall Street Journal-2015"/><ref name="BRW 2015 precarious">{{cite journal |url=http://www.brw.com.au/p/lists/rich-200/2015/gina_rinehart_precarious_position_dSW3BeSTjReSg9kqRadg3J |title=Gina Rinehart's precarious position atop the BRW Rich 200 list |author-last=Ferguson |author-first=Adele |author-link=Adele Ferguson |date=28 May 2015 |access-date=9 June 2015 |journal=BRW |location=Sydney |archive-date=20 March 2016 |archive-url=https://web.archive.org/web/20160320121912/http://www.brw.com.au/p/lists/rich-200/2015/gina_rinehart_precarious_position_dSW3BeSTjReSg9kqRadg3J |url-status=dead }}</ref> | ||
==Net worth== | ==Net worth== | ||
Line 91: | Line 91: | ||
Rinehart first appeared on the 1992 Financial Review Rich List (at the time called the BRW Rich 200, published annually in the '']'' magazine, following the death of her father earlier that year. She has appeared every year since, and became a billionaire in 2006. Due to Australia's ] in the early 21st century, Rinehart's wealth increased significantly since 2010, and she diversified investments into media, taking holdings in Ten Network Holdings and Fairfax Media. According to ''BRW'', she became Australia's richest woman in 2010, and Australia's richest person in 2011, and the first woman to lead the list. During 2012, ''BRW'' claimed Rinehart was the world's richest woman, surpassing Wal-Mart owner ].<ref name="Ferguson5">{{cite journal|author-last=Ferguson|author-first=Adele|author-link=Adele Ferguson|url=http://www.brw.com.au/p/sections/features/rinehart_world_richest_woman_JucE8ndw9hYfzDk5NuudTI|title=Rinehart world's richest woman|journal=BRW|location=Sydney|date=4 June 2012|access-date=23 August 2013|archive-date=18 March 2016|archive-url=https://web.archive.org/web/20160318213936/http://www.brw.com.au/p/sections/features/rinehart_world_richest_woman_JucE8ndw9hYfzDk5NuudTI|url-status=dead}}</ref> | Rinehart first appeared on the 1992 Financial Review Rich List (at the time called the BRW Rich 200, published annually in the '']'' magazine, following the death of her father earlier that year. She has appeared every year since, and became a billionaire in 2006. Due to Australia's ] in the early 21st century, Rinehart's wealth increased significantly since 2010, and she diversified investments into media, taking holdings in Ten Network Holdings and Fairfax Media. According to ''BRW'', she became Australia's richest woman in 2010, and Australia's richest person in 2011, and the first woman to lead the list. During 2012, ''BRW'' claimed Rinehart was the world's richest woman, surpassing Wal-Mart owner ].<ref name="Ferguson5">{{cite journal|author-last=Ferguson|author-first=Adele|author-link=Adele Ferguson|url=http://www.brw.com.au/p/sections/features/rinehart_world_richest_woman_JucE8ndw9hYfzDk5NuudTI|title=Rinehart world's richest woman|journal=BRW|location=Sydney|date=4 June 2012|access-date=23 August 2013|archive-date=18 March 2016|archive-url=https://web.archive.org/web/20160318213936/http://www.brw.com.au/p/sections/features/rinehart_world_richest_woman_JucE8ndw9hYfzDk5NuudTI|url-status=dead}}</ref> | ||
In 2007, she first appeared on ''Forbes Asia'' Australia's 40 Richest, with an estimated wealth of {{USD}}1 billion;<ref name="Forbes-2007"/> more than doubling that the next year to {{USD}}2.4 billion; and then, in spite of the ], by 2011 had more than trebled to {{USD}}9 billion;<ref name="Treadgold, Tim-2011">{{cite news|url=https://www.forbes.com/global/2011/0214/australia-40-richest-11-gina-rinehart-media-miner-daughter.html|title=Miner's Daughter|access-date=10 September 2011|work=Forbes: Australia's 40 Richest|author=Treadgold, Tim|date=2 February 2011 }}</ref> doubled again in 2012 to {{USD}}18 billion;<ref name="Business Week-2012"/> a slight reduction in 2013 to {{USD}}17 billion;<ref name="Woodhead, Ben-2013"/> and a slight increase in 2014 to {{USD}}17.6 billion.<ref name="Treadgold, Tim-2014"/> While still Australia's richest person, her wealth had reduced to {{USD}}12.3 billion by 2015 according to ''Forbes'',<ref name="Peterson-Withorn, Chase-2015"/> and in 2016 ''Forbes'' assessed her net worth at {{USD}}8.5 billion, placing her second on the list.<ref name="Forbes2016">{{cite news |url=https://www.forbes.com/australia-billionaires/list/ |title=Australia's 50 Richest People: 2016 Ranking |work=] Asia |access-date=10 June 2017 }}</ref> Releasing the results in February 2011, ''Forbes'' was the first to name her as Australia's richest person; with ''BRW'' conferring the same title in May that year. | In 2007, she first appeared on ''Forbes Asia'' Australia's 40 Richest, with an estimated wealth of {{USD}}1 billion;<ref name="Forbes-2007"/> more than doubling that the next year to {{USD}}2.4 billion; and then, in spite of the ], by 2011 had more than trebled to {{USD}}9 billion;<ref name="Treadgold, Tim-2011">{{cite news|url=https://www.forbes.com/global/2011/0214/australia-40-richest-11-gina-rinehart-media-miner-daughter.html|title=Miner's Daughter|access-date=10 September 2011|work=Forbes: Australia's 40 Richest|author=Treadgold, Tim|date=2 February 2011|archive-date=2 September 2011|archive-url=https://web.archive.org/web/20110902151148/http://www.forbes.com/global/2011/0214/australia-40-richest-11-gina-rinehart-media-miner-daughter.html|url-status=live}}</ref> doubled again in 2012 to {{USD}}18 billion;<ref name="Business Week-2012"/> a slight reduction in 2013 to {{USD}}17 billion;<ref name="Woodhead, Ben-2013"/> and a slight increase in 2014 to {{USD}}17.6 billion.<ref name="Treadgold, Tim-2014"/> While still Australia's richest person, her wealth had reduced to {{USD}}12.3 billion by 2015 according to ''Forbes'',<ref name="Peterson-Withorn, Chase-2015"/> and in 2016 ''Forbes'' assessed her net worth at {{USD}}8.5 billion, placing her second on the list.<ref name="Forbes2016">{{cite news |url=https://www.forbes.com/australia-billionaires/list/ |title=Australia's 50 Richest People: 2016 Ranking |work=] Asia |access-date=10 June 2017 |archive-date=10 June 2015 |archive-url=https://web.archive.org/web/20150610174708/http://www.forbes.com/australia-billionaires/list/ |url-status=live }}</ref> Releasing the results in February 2011, ''Forbes'' was the first to name her as Australia's richest person; with ''BRW'' conferring the same title in May that year. | ||
In June 2011, ] estimated that she was on course to overtake ], the Mexican magnate worth {{USD}}74 billion and ], who is worth {{USD}}56 billion, mainly because she owns her companies outright. Using a ] of 11:1 that applied at that time to her business partner, ], the Australian internet business news service, SmartCompany, stated: "It is possible to see Rinehart's portfolio of coal and iron ore production spinning off annual profits approaching {{USD}}10 billion", giving her a "personal net worth valuation of more than {{USD}}100 billion".<ref>{{cite news|url=http://www.smartcompany.com.au/resources-and-energy/20110622-why-gina-rinehart-is-one-her-way-to-being-the-world-s-richest-treadgold.html |first=Tim |last=Treadgold |work=SmartCompany |date=22 June 2011 |title=Why Gina Rinehart is on her way to being the world's richest: Treadgold |access-date=2 February 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120203025507/http://www.smartcompany.com.au/resources-and-energy/20110622-why-gina-rinehart-is-one-her-way-to-being-the-world-s-richest-treadgold.html |archive-date= 3 February 2012 }}</ref><ref>{{cite news |
In June 2011, ] estimated that she was on course to overtake ], the Mexican magnate worth {{USD}}74 billion and ], who is worth {{USD}}56 billion, mainly because she owns her companies outright. Using a ] of 11:1 that applied at that time to her business partner, ], the Australian internet business news service, SmartCompany, stated: "It is possible to see Rinehart's portfolio of coal and iron ore production spinning off annual profits approaching {{USD}}10 billion", giving her a "personal net worth valuation of more than {{USD}}100 billion".<ref>{{cite news|url=http://www.smartcompany.com.au/resources-and-energy/20110622-why-gina-rinehart-is-one-her-way-to-being-the-world-s-richest-treadgold.html |first=Tim |last=Treadgold |work=SmartCompany |date=22 June 2011 |title=Why Gina Rinehart is on her way to being the world's richest: Treadgold |access-date=2 February 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120203025507/http://www.smartcompany.com.au/resources-and-energy/20110622-why-gina-rinehart-is-one-her-way-to-being-the-world-s-richest-treadgold.html |archive-date= 3 February 2012 }}</ref><ref>{{cite news|url=https://www.telegraph.co.uk/news/worldnews/australiaandthepacific/australia/8600419/Australian-woman-predicted-to-become-worlds-richest-person.html|title=Australian woman predicted to become world's richest person|work=The Telegraph|location=United Kingdom|date=27 June 2011|access-date=27 July 2011|archive-date=30 June 2011|archive-url=https://web.archive.org/web/20110630223753/http://www.telegraph.co.uk/news/worldnews/australiaandthepacific/australia/8600419/Australian-woman-predicted-to-become-worlds-richest-person.html|url-status=live}}</ref> | ||
In January 2012, there were further media reports that Rinehart's estimated wealth has increased to {{AUD}}20 billion following estimates that the Roy Hill project was notionally valued at {{AUD}}10 billion.<ref>{{cite news|url=http://www.smartcompany.com.au/entrepreneur-watch/20120119-gina-rinehart-s-now-worth-20-billion-and-her-hard-work-s-just-started.html |title=Gina Rinehart's now worth $20 billion and her hard work's just started |first=James |last=Thomson |work=SmartCompany |date=19 January 2012 |access-date=2 February 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120202043604/http://www.smartcompany.com.au/entrepreneur-watch/20120119-gina-rinehart-s-now-worth-20-billion-and-her-hard-work-s-just-started.html |archive-date=2 February 2012 }}</ref><ref>{{cite news|url=http://www.theaustralian.com.au/business/mergers-acquisitions/stakes-raised-as-posco-play-makes-rinehart-a-20bn-woman/story-fn91vdzj-1226249819616|title=Stakes raised as Posco play makes Rinehart a $20bn woman|author=Burrell, Andrew|work=The Australian|date=21 January 2012|access-date=1 February 2012}}</ref> ''Forbes'' magazine ranked her as the fourth-richest woman in 2012 with {{USD}}18 billion; the fifth-richest woman in 2013 with {{USD}}17 billion;<ref>{{cite news|title=The World's Billionaires: #48: Gina Rinehart|work=Forbes|url=https://www.forbes.com/profile/georgina-rinehart/|date=March 2012|access-date=23 August 2013}}</ref> and the sixth-richest woman in 2014 with {{USD}}17.6 billion.<ref name="Treadgold, Tim-2014">{{cite news|title=Australia's $17 Billion Woman on the Road To Becoming A Whole Lot Richer|work=Forbes|url=https://www.forbes.com/sites/timtreadgold/2014/03/21/australias-17-billion-woman-on-the-road-to-becoming-a-whole-lot-richer/|date=21 March 2014|access-date=28 June 2014|author=Treadgold, Tim}}</ref> In 2012, ''BRW'' estimated her wealth at {{AUD}}29.17 billion, with ] being her closest rival, with net wealth estimated at {{AUD}}7.4 billion.<ref name="age2012-05-24">{{cite news|url=http://www.theage.com.au/executive-style/rinehart-worlds-richest-woman-as-wealth-triples-in-a-year-20120523-1z5ox.html|title=Rinehart world's richest woman as wealth triples in a year|author=Murphy, Damien|date=24 May 2012|access-date=24 May 2012|work=The Age|location=Australia }}</ref> At the time, ''BRW'' stated that it was possible Rinehart would become the first person with a net wealth of {{USD}}100 billion.<ref name="BBC2012-5-24">{{cite news|title=Australia's Gina Rinehart is 'world's richest woman'|url=https://www.bbc.co.uk/news/world-asia-18196826|work=BBC News|date=24 May 2012|access-date=25 May 2012}}</ref> {{as of|2012|12}}, according to the Bloomberg Billionaires Index, Rinehart was the 37<small>th-</small>richest person in the world, with an estimated net worth of {{USD}}18.6 billion.<ref name="Bloomberg Billionaires Index">{{cite web |url=http://topics.bloomberg.com/bloomberg-billionaires-index/ |title=Bloomberg Billionaires Index |publisher=Bloomberg LP |url-status=dead |archive-url=https://web.archive.org/web/20120604084252/http://topics.bloomberg.com/bloomberg-billionaires-index/ |archive-date=4 June 2012 }}</ref> | In January 2012, there were further media reports that Rinehart's estimated wealth has increased to {{AUD}}20 billion following estimates that the Roy Hill project was notionally valued at {{AUD}}10 billion.<ref>{{cite news|url=http://www.smartcompany.com.au/entrepreneur-watch/20120119-gina-rinehart-s-now-worth-20-billion-and-her-hard-work-s-just-started.html |title=Gina Rinehart's now worth $20 billion and her hard work's just started |first=James |last=Thomson |work=SmartCompany |date=19 January 2012 |access-date=2 February 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120202043604/http://www.smartcompany.com.au/entrepreneur-watch/20120119-gina-rinehart-s-now-worth-20-billion-and-her-hard-work-s-just-started.html |archive-date=2 February 2012 }}</ref><ref>{{cite news|url=http://www.theaustralian.com.au/business/mergers-acquisitions/stakes-raised-as-posco-play-makes-rinehart-a-20bn-woman/story-fn91vdzj-1226249819616|title=Stakes raised as Posco play makes Rinehart a $20bn woman|author=Burrell, Andrew|work=The Australian|date=21 January 2012|access-date=1 February 2012|archive-date=28 January 2012|archive-url=https://web.archive.org/web/20120128030400/http://www.theaustralian.com.au/business/mergers-acquisitions/stakes-raised-as-posco-play-makes-rinehart-a-20bn-woman/story-fn91vdzj-1226249819616|url-status=live}}</ref> ''Forbes'' magazine ranked her as the fourth-richest woman in 2012 with {{USD}}18 billion; the fifth-richest woman in 2013 with {{USD}}17 billion;<ref>{{cite news|title=The World's Billionaires: #48: Gina Rinehart|work=Forbes|url=https://www.forbes.com/profile/georgina-rinehart/|date=March 2012|access-date=23 August 2013|archive-date=14 August 2013|archive-url=https://web.archive.org/web/20130814095418/http://www.forbes.com/profile/georgina-rinehart/|url-status=live}}</ref> and the sixth-richest woman in 2014 with {{USD}}17.6 billion.<ref name="Treadgold, Tim-2014">{{cite news|title=Australia's $17 Billion Woman on the Road To Becoming A Whole Lot Richer|work=Forbes|url=https://www.forbes.com/sites/timtreadgold/2014/03/21/australias-17-billion-woman-on-the-road-to-becoming-a-whole-lot-richer/|date=21 March 2014|access-date=28 June 2014|author=Treadgold, Tim|archive-date=8 July 2014|archive-url=https://web.archive.org/web/20140708140823/http://www.forbes.com/sites/timtreadgold/2014/03/21/australias-17-billion-woman-on-the-road-to-becoming-a-whole-lot-richer/|url-status=live}}</ref> In 2012, ''BRW'' estimated her wealth at {{AUD}}29.17 billion, with ] being her closest rival, with net wealth estimated at {{AUD}}7.4 billion.<ref name="age2012-05-24">{{cite news|url=http://www.theage.com.au/executive-style/rinehart-worlds-richest-woman-as-wealth-triples-in-a-year-20120523-1z5ox.html|title=Rinehart world's richest woman as wealth triples in a year|author=Murphy, Damien|date=24 May 2012|access-date=24 May 2012|work=The Age|location=Australia|archive-date=26 May 2012|archive-url=https://web.archive.org/web/20120526231233/http://www.theage.com.au/executive-style/rinehart-worlds-richest-woman-as-wealth-triples-in-a-year-20120523-1z5ox.html|url-status=live}}</ref> At the time, ''BRW'' stated that it was possible Rinehart would become the first person with a net wealth of {{USD}}100 billion.<ref name="BBC2012-5-24">{{cite news|title=Australia's Gina Rinehart is 'world's richest woman'|url=https://www.bbc.co.uk/news/world-asia-18196826|work=BBC News|date=24 May 2012|access-date=25 May 2012|archive-date=24 May 2012|archive-url=https://web.archive.org/web/20120524223717/http://www.bbc.co.uk/news/world-asia-18196826|url-status=live}}</ref> {{as of|2012|12}}, according to the Bloomberg Billionaires Index, Rinehart was the 37<small>th-</small>richest person in the world, with an estimated net worth of {{USD}}18.6 billion.<ref name="Bloomberg Billionaires Index">{{cite web |url=http://topics.bloomberg.com/bloomberg-billionaires-index/ |title=Bloomberg Billionaires Index |publisher=Bloomberg LP |url-status=dead |archive-url=https://web.archive.org/web/20120604084252/http://topics.bloomberg.com/bloomberg-billionaires-index/ |archive-date=4 June 2012 }}</ref> | ||
Rinehart's wealth rankings between 2013 and 2019 were adversely impacted by the fall in the wholesale iron ore price and the fall in the ]/] exchange rate.<ref name="BRW 2015 precarious"/><ref name="Peterson-Withorn, Chase-2015" /> In May 2016, she had fallen from wealthiest Australian in 2011 to fourth, with {{AUD}}6.06 billion, surpassed by property developer ], with {{AUD}}10.62 billion.<ref name="ABC News-2016">{{cite news |url=http://www.abc.net.au/news/2016-05-26/brw-rich-list-topped-by-harry-triguboff/7448044 |title=BRW rich list topped by Harry Triguboff, Gina Rinehart slips to fourth |work=ABC News |access-date=26 May 2016 |date=26 May 2016}}</ref> By 2020, according to ''The Australian Financial Review'', Rinehart had an estimated net worth of {{AUD}}28.89 billion and was restored to the mantle of the wealthiest Australian;<ref name="Sprague, Julie-anne-2020"/> it was a title that she has maintained since that date, progressively increasing her net worth, year on year.<ref name="Sprague, Julie-anne-2021"/><ref name="Sprague, Julie-anne-2023"/> | Rinehart's wealth rankings between 2013 and 2019 were adversely impacted by the fall in the wholesale iron ore price and the fall in the ]/] exchange rate.<ref name="BRW 2015 precarious"/><ref name="Peterson-Withorn, Chase-2015" /> In May 2016, she had fallen from wealthiest Australian in 2011 to fourth, with {{AUD}}6.06 billion, surpassed by property developer ], with {{AUD}}10.62 billion.<ref name="ABC News-2016">{{cite news |url=http://www.abc.net.au/news/2016-05-26/brw-rich-list-topped-by-harry-triguboff/7448044 |title=BRW rich list topped by Harry Triguboff, Gina Rinehart slips to fourth |work=ABC News |access-date=26 May 2016 |date=26 May 2016 |archive-date=22 September 2018 |archive-url=https://web.archive.org/web/20180922120106/http://www.abc.net.au/news/2016-05-26/brw-rich-list-topped-by-harry-triguboff/7448044 |url-status=live }}</ref> By 2020, according to ''The Australian Financial Review'', Rinehart had an estimated net worth of {{AUD}}28.89 billion and was restored to the mantle of the wealthiest Australian;<ref name="Sprague, Julie-anne-2020"/> it was a title that she has maintained since that date, progressively increasing her net worth, year on year.<ref name="Sprague, Julie-anne-2021"/><ref name="Sprague, Julie-anne-2023"/> | ||
===Wealth rankings=== | ===Wealth rankings=== | ||
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| align="right" | | | align="right" | | ||
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| 2007<ref name="Forbes-2007"/><ref>{{cite news |url=http://www.smh.com.au/news/Business/James-Packer-still-top-of-rich-list/2007/05/30/1180205321814.html |title=James Packer still top of rich list |date=30 May 2007 |work=The Sydney Morning Herald}}</ref> | | 2007<ref name="Forbes-2007"/><ref>{{cite news |url=http://www.smh.com.au/news/Business/James-Packer-still-top-of-rich-list/2007/05/30/1180205321814.html |title=James Packer still top of rich list |date=30 May 2007 |work=The Sydney Morning Herald |access-date=30 May 2007 |archive-date=4 January 2008 |archive-url=https://web.archive.org/web/20080104142854/http://www.smh.com.au/news/Business/James-Packer-still-top-of-rich-list/2007/05/30/1180205321814.html |url-status=live }}</ref> | ||
| align="center" | {{nts|4}} {{profit}} | | align="center" | {{nts|4}} {{profit}} | ||
| align="right" | $4.00 billion {{profit}} | | align="right" | $4.00 billion {{profit}} | ||
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| align="right" | $1.00 billion {{profit}} | | align="right" | $1.00 billion {{profit}} | ||
|- | |- | ||
| 2008<ref>{{cite news|url=http://www.theage.com.au/business/rich-surprise-alan-bond-bounces-back-20080528-2ixw.html |title=Rich surprise: Alan Bond bounces back |date=28 May 2008 |work=The Age |author=Litras, Peter |access-date=15 September 2011 |agency=Australian Associated Press |location=Melbourne |url-status=dead |archive-url=https://web.archive.org/web/20110901033555/http://www.theage.com.au/business/rich-surprise-alan-bond-bounces-back-20080528-2ixw.html |archive-date= 1 September 2011 }}</ref><ref>{{cite news |url=https://www.forbes.com/global/2008/0407/037.html |title=Australia and New Zealand's 40 Richest: The List |work=Forbes Asia |date=20 March 2008 |access-date=15 September 2011 |author=Thomson, James }}</ref> | | 2008<ref>{{cite news|url=http://www.theage.com.au/business/rich-surprise-alan-bond-bounces-back-20080528-2ixw.html |title=Rich surprise: Alan Bond bounces back |date=28 May 2008 |work=The Age |author=Litras, Peter |access-date=15 September 2011 |agency=Australian Associated Press |location=Melbourne |url-status=dead |archive-url=https://web.archive.org/web/20110901033555/http://www.theage.com.au/business/rich-surprise-alan-bond-bounces-back-20080528-2ixw.html |archive-date= 1 September 2011 }}</ref><ref>{{cite news |url=https://www.forbes.com/global/2008/0407/037.html |title=Australia and New Zealand's 40 Richest: The List |work=Forbes Asia |date=20 March 2008 |access-date=15 September 2011 |author=Thomson, James |archive-date=15 July 2012 |archive-url=https://web.archive.org/web/20120715162245/http://www.forbes.com/global/2008/0407/037.html |url-status=live }}</ref> | ||
| align="center" | {{nts|5}} {{loss}} | | align="center" | {{nts|5}} {{loss}} | ||
| align="right" | $4.39 billion {{profit}} | | align="right" | $4.39 billion {{profit}} | ||
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| align="right" | $2.40 billion {{profit}} | | align="right" | $2.40 billion {{profit}} | ||
|- | |- | ||
| 2009<ref>{{cite news |url=http://www.smh.com.au/executive-style/management/rich-get-poorer-20090527-bn70.html |title=Rich get poorer |date=27 May 2009 |work=The Sydney Morning Herald |author=Zappone, Chris |access-date=15 September 2011 }}</ref><ref>{{cite news |url=https://www.forbes.com/lists/2009/78/australia-rich-09_Gina-Rinehart_BIGN.html |title=Australia's 40 Richest: Gina Rinehart |work=Forbes Asia |date=13 May 2009 |access-date=15 September 2011 }}</ref> | | 2009<ref>{{cite news |url=http://www.smh.com.au/executive-style/management/rich-get-poorer-20090527-bn70.html |title=Rich get poorer |date=27 May 2009 |work=The Sydney Morning Herald |author=Zappone, Chris |access-date=15 September 2011 |archive-date=8 November 2012 |archive-url=https://web.archive.org/web/20121108194102/http://www.smh.com.au/executive-style/management/rich-get-poorer-20090527-bn70.html |url-status=live }}</ref><ref>{{cite news |url=https://www.forbes.com/lists/2009/78/australia-rich-09_Gina-Rinehart_BIGN.html |title=Australia's 40 Richest: Gina Rinehart |work=Forbes Asia |date=13 May 2009 |access-date=15 September 2011 |archive-date=3 February 2012 |archive-url=https://web.archive.org/web/20120203042736/http://www.forbes.com/lists/2009/78/australia-rich-09_Gina-Rinehart_BIGN.html |url-status=live }}</ref> | ||
| align="center" | {{nts|4}} {{profit}} | | align="center" | {{nts|4}} {{profit}} | ||
| align="right" | $3.47 billion {{loss}} | | align="right" | $3.47 billion {{loss}} | ||
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| align="right" | $1.50 billion {{loss}} | | align="right" | $1.50 billion {{loss}} | ||
|- | |- | ||
| 2010<ref name="Murphy, Damien-2010">{{cite news|url=http://www.smh.com.au/lifestyle/people/newsmaker-gina-rinehart-20101126-18ank.html|title=Newsmaker: Gina Rinehart|author=Murphy, Damien|date=27 November 2010|work=The Sydney Morning Herald|access-date=8 January 2011}}</ref><ref>{{cite news|url=http://news.theage.com.au/breaking-news-business/gina-rinehart-tops-australian-rich-list-20110203-1af06.html|title=Gina Rinehart tops Australian rich list |
| 2010<ref name="Murphy, Damien-2010">{{cite news|url=http://www.smh.com.au/lifestyle/people/newsmaker-gina-rinehart-20101126-18ank.html|title=Newsmaker: Gina Rinehart|author=Murphy, Damien|date=27 November 2010|work=The Sydney Morning Herald|access-date=8 January 2011|archive-date=28 November 2010|archive-url=https://web.archive.org/web/20101128152856/http://www.smh.com.au/lifestyle/people/newsmaker-gina-rinehart-20101126-18ank.html|url-status=live}}</ref><ref>{{cite news|url=http://news.theage.com.au/breaking-news-business/gina-rinehart-tops-australian-rich-list-20110203-1af06.html|title=Gina Rinehart tops Australian rich list|work=The Age|date=3 February 2011|access-date=3 February 2011|location=Australia|archive-date=27 May 2012|archive-url=https://web.archive.org/web/20120527125944/http://news.theage.com.au/breaking-news-business/gina-rinehart-tops-australian-rich-list-20110203-1af06.html|url-status=live}}</ref> | ||
| align="center" | {{nts|5}} {{loss}} | | align="center" | {{nts|5}} {{loss}} | ||
| align="right" | $4.75 billion {{profit}} | | align="right" | $4.75 billion {{profit}} | ||
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| align="right" | $9.00 billion {{profit}} | | align="right" | $9.00 billion {{profit}} | ||
|- | |- | ||
| 2012<ref name="Business Week-2012">{{cite news|url=http://www.businessweek.com/news/2012-02-02/rinehart-doubles-fortune-as-asia-pacific-s-richest-forbes-says.html |title=Rinehart Doubles Fortune as Asia Pacific's Richest, Forbes Says |work=Business Week |publisher=Bloomsberg |date=2 February 2012 |access-date=3 February 2012 |url-status=dead |archive-url=https://web.archive.org/web/20130602214016/http://www.businessweek.com/news/2012-02-02/rinehart-doubles-fortune-as-asia-pacific-s-richest-forbes-says.html |archive-date=2 June 2013 }}</ref><ref name="brw 2012">{{cite news|last=Jackson|first=Sally|title=The $29.17 billion woman: Gina Rinehart tops BRW's Rich List|url=http://www.theaustralian.com.au/media/the-2917-billion-woman-gina-rinehart-tops-brws-rich-list/story-e6frg996-1226364335069|access-date=23 May 2012|newspaper=The Australian|date=23 May 2012}}</ref> | | 2012<ref name="Business Week-2012">{{cite news|url=http://www.businessweek.com/news/2012-02-02/rinehart-doubles-fortune-as-asia-pacific-s-richest-forbes-says.html |title=Rinehart Doubles Fortune as Asia Pacific's Richest, Forbes Says |work=Business Week |publisher=Bloomsberg |date=2 February 2012 |access-date=3 February 2012 |url-status=dead |archive-url=https://web.archive.org/web/20130602214016/http://www.businessweek.com/news/2012-02-02/rinehart-doubles-fortune-as-asia-pacific-s-richest-forbes-says.html |archive-date=2 June 2013 }}</ref><ref name="brw 2012">{{cite news|last=Jackson|first=Sally|title=The $29.17 billion woman: Gina Rinehart tops BRW's Rich List|url=http://www.theaustralian.com.au/media/the-2917-billion-woman-gina-rinehart-tops-brws-rich-list/story-e6frg996-1226364335069|access-date=23 May 2012|newspaper=The Australian|date=23 May 2012|archive-date=23 May 2012|archive-url=https://web.archive.org/web/20120523221008/http://www.theaustralian.com.au/media/the-2917-billion-woman-gina-rinehart-tops-brws-rich-list/story-e6frg996-1226364335069|url-status=live}}</ref> | ||
| align="center" | {{nts|1}} {{steady}} | | align="center" | {{nts|1}} {{steady}} | ||
| align="right" | $29.17 billion {{profit}} | | align="right" | $29.17 billion {{profit}} | ||
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| align="right" | $18.00 billion {{profit}} | | align="right" | $18.00 billion {{profit}} | ||
|- | |- | ||
| 2013<ref name="Woodhead, Ben-2013">{{cite news|url=http://www.afr.com/p/world/rinehart_th_richest_as_forbes_names_m17SlQH5hMKFRZ64mAblJJ|title=Rinehart 36th richest, as Forbes names world's billionaires |
| 2013<ref name="Woodhead, Ben-2013">{{cite news|url=http://www.afr.com/p/world/rinehart_th_richest_as_forbes_names_m17SlQH5hMKFRZ64mAblJJ|title=Rinehart 36th richest, as Forbes names world's billionaires|work=Financial Review|location=Australia|author=Woodhead, Ben|date=5 March 2013|access-date=5 March 2013|archive-date=8 March 2013|archive-url=https://web.archive.org/web/20130308140855/http://www.afr.com/p/world/rinehart_th_richest_as_forbes_names_m17SlQH5hMKFRZ64mAblJJ|url-status=live}}</ref><ref name="brw 2013">{{cite news|last1=Colquhoun|first1=Steve|last2=Heathcote|first2=Andrew|title=Rinehart drops more than Lowy's entire worth|url=http://www.smh.com.au/executive-style/management/rinehart-drops-more-than-lowys-entire-worth-20130522-2k0h9.html|access-date=22 May 2013|newspaper=The Sydney Morning Herald|date=22 May 2013|archive-date=29 May 2013|archive-url=https://web.archive.org/web/20130529021403/http://www.smh.com.au/executive-style/management/rinehart-drops-more-than-lowys-entire-worth-20130522-2k0h9.html|url-status=live}}</ref> | ||
| align="center" | {{nts|1}} {{steady}} | | align="center" | {{nts|1}} {{steady}} | ||
| align="right" | $22.02 billion {{loss}} | | align="right" | $22.02 billion {{loss}} | ||
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| align="right" | $17.60 billion {{increase}} | | align="right" | $17.60 billion {{increase}} | ||
|- | |- | ||
| 2015<ref name="Peterson-Withorn, Chase-2015">{{cite web |author=Peterson-Withorn, Chase |url=https://www.forbes.com/sites/chasewithorn/2015/03/04/forbes-billionaires-2015-see-who-lost-the-most-money/ |title=Forbes Billionaires 2015: See Who Lost The Most Money |work=Forbes |date=4 March 2015 |access-date=9 June 2015 }}</ref><ref name="brw 2015">{{cite journal|url=http://www.brw.com.au/lists/rich-200/2015/|title=BRW Rich 200 list 2015: 1. Gina Rinehart|journal=BRW (A Fairfax Media Publication) |
| 2015<ref name="Peterson-Withorn, Chase-2015">{{cite web |author=Peterson-Withorn, Chase |url=https://www.forbes.com/sites/chasewithorn/2015/03/04/forbes-billionaires-2015-see-who-lost-the-most-money/ |title=Forbes Billionaires 2015: See Who Lost The Most Money |work=Forbes |date=4 March 2015 |access-date=9 June 2015 |archive-date=20 June 2015 |archive-url=https://web.archive.org/web/20150620001308/http://www.forbes.com/sites/chasewithorn/2015/03/04/forbes-billionaires-2015-see-who-lost-the-most-money/ |url-status=live }}</ref><ref name="brw 2015">{{cite journal|url=http://www.brw.com.au/lists/rich-200/2015/|title=BRW Rich 200 list 2015: 1. Gina Rinehart|journal=BRW (A Fairfax Media Publication)|location=Sydney|date=May 2015|access-date=9 June 2015|archive-date=8 June 2015|archive-url=https://web.archive.org/web/20150608012920/http://www.brw.com.au/lists/rich-200/2015/?|url-status=live}}</ref><ref name="brw2015editorial">{{cite web |author=Stensholt, John |url=http://www.brw.com.au/p/lists/rich-200/2015/down_but_gina_rinehart_remains_richest_fZ3yjmEP9pHo9KbKKqWEGN |title=Down $6b but Gina Rinehart remains richest Australian in BRW Rich 200 |work=] |location=Australia |date=28 May 2015 |access-date=9 June 2015 |archive-url=https://web.archive.org/web/20150529090301/http://www.brw.com.au/p/lists/rich-200/2015/down_but_gina_rinehart_remains_richest_fZ3yjmEP9pHo9KbKKqWEGN |archive-date=29 May 2015 }}</ref> | ||
| align="center" | {{nts|1}} {{steady}} | | align="center" | {{nts|1}} {{steady}} | ||
| align="right" | $14.02 billion {{decrease}} | | align="right" | $14.02 billion {{decrease}} | ||
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| align="right" | $8.50 billion {{decrease}} | | align="right" | $8.50 billion {{decrease}} | ||
|- | |- | ||
| 2017<ref name="afr2017">{{cite news |url=http://www.afr.com/leadership/afr-lists/rich-list/financial-review-rich-list-2017-20170525-gwcvr6 |editor=Stensholt, John |title=Financial Review Rich List 2017 |work=] |date=25 May 2017 |access-date=8 June 2017 }}</ref> | | 2017<ref name="afr2017">{{cite news |url=http://www.afr.com/leadership/afr-lists/rich-list/financial-review-rich-list-2017-20170525-gwcvr6 |editor=Stensholt, John |title=Financial Review Rich List 2017 |work=] |date=25 May 2017 |access-date=8 June 2017 |archive-date=6 August 2018 |archive-url=https://web.archive.org/web/20180806171444/https://www.afr.com/leadership/afr-lists/rich-list/financial-review-rich-list-2017-20170525-gwcvr6 |url-status=live }}</ref> | ||
| align="center" | {{nts|3}} {{increase}} | | align="center" | {{nts|3}} {{increase}} | ||
| align="right" | $10.40 billion {{increase}} | | align="right" | $10.40 billion {{increase}} | ||
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| align="right" | $14.8 billion {{increase}} | | align="right" | $14.8 billion {{increase}} | ||
|- | |- | ||
| 2018<ref name="afr2018">{{cite web|url=http://www.afr.com/brand/afr-magazine/rich-list-overview-20180413-h0yqo5|title=2018 AFR Rich List: Who are Australia's richest people?|work=The Australian Financial Review|date=25 May 2018|last=Stensholt|first=John|access-date=26 May 2018}}</ref> | | 2018<ref name="afr2018">{{cite web|url=http://www.afr.com/brand/afr-magazine/rich-list-overview-20180413-h0yqo5|title=2018 AFR Rich List: Who are Australia's richest people?|work=The Australian Financial Review|date=25 May 2018|last=Stensholt|first=John|access-date=26 May 2018|archive-date=26 May 2018|archive-url=https://web.archive.org/web/20180526045256/http://www.afr.com/brand/afr-magazine/rich-list-overview-20180413-h0yqo5|url-status=live}}</ref> | ||
| align="center" | {{nts|3}} {{steady}} | | align="center" | {{nts|3}} {{steady}} | ||
| align="right" | $12.68 billion {{increase}} | | align="right" | $12.68 billion {{increase}} | ||
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| align="right" | $17.4 billion {{increase}} | | align="right" | $17.4 billion {{increase}} | ||
|- | |- | ||
| 2019<ref name="afr2019">{{cite web|url=https://www.afr.com/rich-list/australia-s-10-wealthiest-people-revealed-20190529-p51sj0|title=Australia's 200 richest people revealed|work=The Australian Financial Review|publisher=Nine Publishing|date=30 May 2019|last=Bailey|first=Michael|access-date=31 May 2019}}</ref><ref name="Forbes Asia-2019">{{cite news|url=https://www.forbes.com/australia-billionaires/list/#tab:overall|title=2019 Australia's 50 Richest|access-date=28 September 2019|work=Forbes Asia|date=January 2019 }}</ref> | | 2019<ref name="afr2019">{{cite web|url=https://www.afr.com/rich-list/australia-s-10-wealthiest-people-revealed-20190529-p51sj0|title=Australia's 200 richest people revealed|work=The Australian Financial Review|publisher=Nine Publishing|date=30 May 2019|last=Bailey|first=Michael|access-date=31 May 2019|archive-date=3 September 2019|archive-url=https://web.archive.org/web/20190903083639/https://www.afr.com/rich-list/australia-s-10-wealthiest-people-revealed-20190529-p51sj0|url-status=live}}</ref><ref name="Forbes Asia-2019">{{cite news|url=https://www.forbes.com/australia-billionaires/list/#tab:overall|title=2019 Australia's 50 Richest|access-date=28 September 2019|work=Forbes Asia|date=January 2019|archive-date=10 June 2015|archive-url=https://web.archive.org/web/20150610174708/http://www.forbes.com/australia-billionaires/list/#tab:overall|url-status=live}}</ref> | ||
| align="center" | {{nts|2}} {{increase}} | | align="center" | {{nts|2}} {{increase}} | ||
| align="right" | $13.81 billion {{increase}} | | align="right" | $13.81 billion {{increase}} | ||
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| align="right" | $14.8 billion {{decrease}} | | align="right" | $14.8 billion {{decrease}} | ||
|- | |- | ||
| 2020<ref name="Sprague, Julie-anne-2020">{{cite web|url=https://www.afr.com/rich-list/the-10-richest-australians-revealed-20201028-p569c7|url-access=subscription|title=The full list: Australia's wealthiest 200 revealed|work=]|publisher=Nine Publishing|date=30 October 2020|author1=Bailey, Michael|author2=Sprague, Julie-anne|access-date=31 October 2020}}</ref> | | 2020<ref name="Sprague, Julie-anne-2020">{{cite web|url=https://www.afr.com/rich-list/the-10-richest-australians-revealed-20201028-p569c7|url-access=subscription|title=The full list: Australia's wealthiest 200 revealed|work=]|publisher=Nine Publishing|date=30 October 2020|author1=Bailey, Michael|author2=Sprague, Julie-anne|access-date=31 October 2020|archive-date=30 October 2020|archive-url=https://web.archive.org/web/20201030180356/https://www.afr.com/rich-list/the-10-richest-australians-revealed-20201028-p569c7|url-status=live}}</ref> | ||
| align="center" | {{nts|1}} {{increase}} | | align="center" | {{nts|1}} {{increase}} | ||
| align="right" | $28.89 billion {{increase}} | | align="right" | $28.89 billion {{increase}} | ||
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| align="right" | | | align="right" | | ||
|- | |- | ||
| 2021<ref name="Sprague, Julie-anne-2021">{{cite news |author1=Bailey, Michael |author2=Sprague, Julie-anne |url=https://www.afr.com/rich-list/australia-s-10-richest-people-revealed-20210526-p57vfr |title=The 200 richest people in Australia revealed |work=] |date=27 May 2021 |access-date=28 May 2021}}</ref> | | 2021<ref name="Sprague, Julie-anne-2021">{{cite news |author1=Bailey, Michael |author2=Sprague, Julie-anne |url=https://www.afr.com/rich-list/australia-s-10-richest-people-revealed-20210526-p57vfr |title=The 200 richest people in Australia revealed |work=] |date=27 May 2021 |access-date=28 May 2021 |archive-date=27 May 2021 |archive-url=https://web.archive.org/web/20210527120707/https://www.afr.com/rich-list/australia-s-10-richest-people-revealed-20210526-p57vfr |url-status=live }}</ref> | ||
| align="center" | {{nowrap|{{nts|1}} {{steady}}}} | | align="center" | {{nowrap|{{nts|1}} {{steady}}}} | ||
| align="right" | $31.06 billion {{increase}} | | align="right" | $31.06 billion {{increase}} | ||
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|- | |- | ||
| 2023<ref name="Sprague, Julie-anne-2023">{{cite news |author1=Bailey, Michael |author2=Sprague, Julie-anne |url=https://www.afr.com/rich-list/australia-s-10-richest-people-revealed-20230523-p5dapa |title=The 200 richest people in Australia revealed |work=] |date=26 May 2023 |access-date=6 June 2023}}</ref> | | 2023<ref name="Sprague, Julie-anne-2023">{{cite news |author1=Bailey, Michael |author2=Sprague, Julie-anne |url=https://www.afr.com/rich-list/australia-s-10-richest-people-revealed-20230523-p5dapa |title=The 200 richest people in Australia revealed |work=] |date=26 May 2023 |access-date=6 June 2023 |archive-date=6 June 2023 |archive-url=https://web.archive.org/web/20230606141432/https://www.afr.com/rich-list/australia-s-10-richest-people-revealed-20230523-p5dapa |url-status=live }}</ref> | ||
| align="center" | {{nowrap|{{nts|1}} {{steady}}}} | | align="center" | {{nowrap|{{nts|1}} {{steady}}}} | ||
| align="right" | $37.41 billion {{increase}} | | align="right" | $37.41 billion {{increase}} | ||
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=== Philanthropy === | === Philanthropy === | ||
In a 2006 ''Business Review Weekly'' article reviewing the way Australia's rich support philanthropy, it was noted that Rinehart prefers to keep a low profile, partly to avoid being "harassed by other charities" and partly for reasons of privacy.<ref name="Ferguson6">{{cite news |url=http://blogs.theage.com.au/business/executivestyle/managementline/archives/brw2906p028-031.pdf |title=Not Enough |work=Business Review Weekly |date=29 June – 5 July 2006 |page=30 |access-date=16 September 2011 |author-last=Ferguson |author-first=Adele |author-link=Adele Ferguson |location=Melbourne |archive-date=14 April 2011 |archive-url=https://web.archive.org/web/20110414102241/http://blogs.theage.com.au/business/executivestyle/managementline/archives/brw2906p028-031.pdf |url-status=dead }}</ref> Rinehart is publicly known for visiting girls' orphanages in ]<ref>{{cite news |url=http://www.brw.com.au/p/sections/features/first_lady_gina_rinehart_6WcwDFk35eClsSwPzZzWqN?hl |title=First lady |work=Business Review Weekly |date=25 May 2011 |author=Kerr, Peter |access-date=10 September 2011 |archive-date=6 January 2014 |archive-url=https://web.archive.org/web/20140106040135/http://www.brw.com.au/p/sections/features/first_lady_gina_rinehart_6WcwDFk35eClsSwPzZzWqN?hl |url-status=dead }}</ref> and is on the expert advisory board of SISHA, a Cambodian non-profit organisation campaigning against ],<ref>{{cite web|url=http://www.sisha.org/projects-hope-scholarship-award.html |title=In October 2010, SISHA launched our new Hope Scholarship Award Program |work=SISHA |access-date=10 September 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110903071039/http://www.sisha.org/projects-hope-scholarship-award.html |archive-date= 3 September 2011 }}</ref><ref>{{cite web |url=http://www.facebook.com/note.php?note_id=10150135096256959 |title=Georgina Rinehart flies to Cambodia to visit SISHA! |work=Facebook |date=14 December 2010 |access-date=16 September 2011}}</ref>{{Primary source inline|date=March 2020}} in particular by rescuing and assisting sexually exploited women and children.<ref name="Aust-Hewitt-2012-02-04">{{cite news|url=http://www.theaustralian.com.au/business/companies/rinehart-reclusive-driven-entrepreneur-but-a-mining-pioneer-at-heart/story-fn91v9q3-1226262267908|author=Hewett, Jennifer|work=The Weekend Australian|date=4 February 2012|title=Rinehart: reclusive, driven entrepreneur, but a mining pioneer at heart|access-date=16 June 2013}}</ref> | In a 2006 ''Business Review Weekly'' article reviewing the way Australia's rich support philanthropy, it was noted that Rinehart prefers to keep a low profile, partly to avoid being "harassed by other charities" and partly for reasons of privacy.<ref name="Ferguson6">{{cite news |url=http://blogs.theage.com.au/business/executivestyle/managementline/archives/brw2906p028-031.pdf |title=Not Enough |work=Business Review Weekly |date=29 June – 5 July 2006 |page=30 |access-date=16 September 2011 |author-last=Ferguson |author-first=Adele |author-link=Adele Ferguson |location=Melbourne |archive-date=14 April 2011 |archive-url=https://web.archive.org/web/20110414102241/http://blogs.theage.com.au/business/executivestyle/managementline/archives/brw2906p028-031.pdf |url-status=dead }}</ref> Rinehart is publicly known for visiting girls' orphanages in ]<ref>{{cite news |url=http://www.brw.com.au/p/sections/features/first_lady_gina_rinehart_6WcwDFk35eClsSwPzZzWqN?hl |title=First lady |work=Business Review Weekly |date=25 May 2011 |author=Kerr, Peter |access-date=10 September 2011 |archive-date=6 January 2014 |archive-url=https://web.archive.org/web/20140106040135/http://www.brw.com.au/p/sections/features/first_lady_gina_rinehart_6WcwDFk35eClsSwPzZzWqN?hl |url-status=dead }}</ref> and is on the expert advisory board of SISHA, a Cambodian non-profit organisation campaigning against ],<ref>{{cite web|url=http://www.sisha.org/projects-hope-scholarship-award.html |title=In October 2010, SISHA launched our new Hope Scholarship Award Program |work=SISHA |access-date=10 September 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110903071039/http://www.sisha.org/projects-hope-scholarship-award.html |archive-date= 3 September 2011 }}</ref><ref>{{cite web |url=http://www.facebook.com/note.php?note_id=10150135096256959 |title=Georgina Rinehart flies to Cambodia to visit SISHA! |work=Facebook |date=14 December 2010 |access-date=16 September 2011 |archive-date=30 April 2019 |archive-url=https://web.archive.org/web/20190430073433/https://www.facebook.com/note.php%3Fnote_id%3D10150135096256959 |url-status=live }}</ref>{{Primary source inline|date=March 2020}} in particular by rescuing and assisting sexually exploited women and children.<ref name="Aust-Hewitt-2012-02-04">{{cite news|url=http://www.theaustralian.com.au/business/companies/rinehart-reclusive-driven-entrepreneur-but-a-mining-pioneer-at-heart/story-fn91v9q3-1226262267908|author=Hewett, Jennifer|work=The Weekend Australian|date=4 February 2012|title=Rinehart: reclusive, driven entrepreneur, but a mining pioneer at heart|access-date=16 June 2013|archive-date=28 May 2014|archive-url=https://web.archive.org/web/20140528023317/http://www.theaustralian.com.au/business/companies/rinehart-reclusive-driven-entrepreneur-but-a-mining-pioneer-at-heart/story-fn91v9q3-1226262267908|url-status=live}}</ref> | ||
In 2012 ] announced a $10 million funding arrangement over 4 years with the Georgina Hope Foundation in conjunction with ].<ref>{{cite news|url=http://www.smh.com.au/sport/swimming/rinehart-pours-10m-into-swimming-aust-20121123-29yiy.html|title=Rinehart pours $10m into Swimming Aust|date=23 November 2012|access-date=9 September 2015|work=The Sydney Morning Herald}}</ref> The deal supports the ] through direct payments to elite and targeted development swimmers, as well supporting lesser known sports such as ].<ref>{{cite news|url=http://www.smh.com.au/business/without-gina-rinehart-we-would-be-stuck-in-london-slump-says-john-bertrand-20150816-gj007z.html|title=Without Gina Rinehart we would be stuck in London slump, says John Bertrand|date=17 August 2015|work=The Sydney Morning Herald|access-date=9 September 2015}}</ref> The arrangement was renewed for a further 2 years in August 2015<ref>{{cite web|url=http://www.smh.com.au/sport/swimming/swimming-australia-mines-massive-sponsorship-deal-with-hancock-prospecting-20150302-13t3bw.html|title=Swimming Australia mines massive sponsorship deal with Hancock Prospecting|date=2 March 2015|work=The Sydney Morning Herald|access-date=9 September 2015}}</ref> and includes naming rights to various Swimming Australia events, including the ].<ref>{{cite web|url=http://www.swimming.org.au/calendar.html|work=Swimming Australia|title=Calendar|access-date=9 September 2015}}</ref> As recently as 2019, the sporting group described Rinehart as “part of team” and “part of the swimming family.".<ref>{{Cite web|date=2019-07-22|title=Aussie swimmer's protest at Chinese rival is awkward for Gina Rinehart|url=https://www.afr.com/companies/mining/aussie-swimmer-s-protest-at-chinese-rival-is-awkward-for-gina-rinehart-20190723-p529q1|access-date=2020-10-03|website=Australian Financial Review|language=en}}</ref> In 2016 Rinehart also began to sponsor the Australian Rowing Team with a significant investment to improve direct financial athlete assistance for the Rio Olympic Games as well as for the four years, leading into the 2020 Tokyo Olympics. It is understood that the deal now also extends to Paris 2024. This further investment is said to make Rinehart the largest individual donor to Olympic sport in Australian history. | In 2012 ] announced a $10 million funding arrangement over 4 years with the Georgina Hope Foundation in conjunction with ].<ref>{{cite news|url=http://www.smh.com.au/sport/swimming/rinehart-pours-10m-into-swimming-aust-20121123-29yiy.html|title=Rinehart pours $10m into Swimming Aust|date=23 November 2012|access-date=9 September 2015|work=The Sydney Morning Herald|archive-date=9 September 2016|archive-url=https://web.archive.org/web/20160909180312/http://www.smh.com.au/sport/swimming/rinehart-pours-10m-into-swimming-aust-20121123-29yiy.html|url-status=live}}</ref> The deal supports the ] through direct payments to elite and targeted development swimmers, as well supporting lesser known sports such as ].<ref>{{cite news|url=http://www.smh.com.au/business/without-gina-rinehart-we-would-be-stuck-in-london-slump-says-john-bertrand-20150816-gj007z.html|title=Without Gina Rinehart we would be stuck in London slump, says John Bertrand|date=17 August 2015|work=The Sydney Morning Herald|access-date=9 September 2015|archive-date=13 March 2017|archive-url=https://web.archive.org/web/20170313224654/http://www.smh.com.au/business/without-gina-rinehart-we-would-be-stuck-in-london-slump-says-john-bertrand-20150816-gj007z.html|url-status=live}}</ref> The arrangement was renewed for a further 2 years in August 2015<ref>{{cite web|url=http://www.smh.com.au/sport/swimming/swimming-australia-mines-massive-sponsorship-deal-with-hancock-prospecting-20150302-13t3bw.html|title=Swimming Australia mines massive sponsorship deal with Hancock Prospecting|date=2 March 2015|work=The Sydney Morning Herald|access-date=9 September 2015|archive-date=13 March 2017|archive-url=https://web.archive.org/web/20170313214524/http://www.smh.com.au/sport/swimming/swimming-australia-mines-massive-sponsorship-deal-with-hancock-prospecting-20150302-13t3bw.html|url-status=live}}</ref> and includes naming rights to various Swimming Australia events, including the ].<ref>{{cite web|url=http://www.swimming.org.au/calendar.html|work=Swimming Australia|title=Calendar|access-date=9 September 2015|archive-date=5 September 2015|archive-url=https://web.archive.org/web/20150905073207/http://www.swimming.org.au/calendar.html|url-status=live}}</ref> As recently as 2019, the sporting group described Rinehart as “part of team” and “part of the swimming family.".<ref>{{Cite web|date=2019-07-22|title=Aussie swimmer's protest at Chinese rival is awkward for Gina Rinehart|url=https://www.afr.com/companies/mining/aussie-swimmer-s-protest-at-chinese-rival-is-awkward-for-gina-rinehart-20190723-p529q1|access-date=2020-10-03|website=Australian Financial Review|language=en|archive-date=27 September 2020|archive-url=https://web.archive.org/web/20200927035557/https://www.afr.com/companies/mining/aussie-swimmer-s-protest-at-chinese-rival-is-awkward-for-gina-rinehart-20190723-p529q1|url-status=live}}</ref> In 2016 Rinehart also began to sponsor the Australian Rowing Team with a significant investment to improve direct financial athlete assistance for the Rio Olympic Games as well as for the four years, leading into the 2020 Tokyo Olympics. It is understood that the deal now also extends to Paris 2024. This further investment is said to make Rinehart the largest individual donor to Olympic sport in Australian history. | ||
==Awards== | ==Awards== | ||
In 2022, Rinehart was appointed as an Officer of the ] (AO) in the ] for "distinguished service to the mining sector, to the community through philanthropic initiatives, and to sport as a patron".<ref name="2022 Honours SMH">{{cite news |title=Australia Day 2022 Honours List |url=https://www.smh.com.au/national/australia-day-2022-honours-list-20220125-p59r53.html |access-date=25 January 2022 |work=Sydney Morning Herald |publisher=Nine Entertainment Co |date=25 January 2022}}</ref> | In 2022, Rinehart was appointed as an Officer of the ] (AO) in the ] for "distinguished service to the mining sector, to the community through philanthropic initiatives, and to sport as a patron".<ref name="2022 Honours SMH">{{cite news |title=Australia Day 2022 Honours List |url=https://www.smh.com.au/national/australia-day-2022-honours-list-20220125-p59r53.html |access-date=25 January 2022 |work=Sydney Morning Herald |publisher=Nine Entertainment Co |date=25 January 2022 |archive-date=25 January 2022 |archive-url=https://web.archive.org/web/20220125112147/https://www.smh.com.au/national/australia-day-2022-honours-list-20220125-p59r53.html |url-status=live }}</ref> | ||
==References== | ==References== |
Revision as of 10:11, 20 April 2024
Australian businesswoman (born 1954)
Gina RinehartAO | |
---|---|
Rinehart in 2015 | |
Born | Georgina Hope Hancock (1954-02-09) 9 February 1954 (age 70) Perth, Western Australia |
Education | St Hilda's School |
Occupation(s) | Mining magnate; company chairwoman |
Board member of | Hancock Prospecting |
Spouses |
|
Children | 4, including John Hayward-Hancock |
Parents |
|
Website | www |
Georgina Hope Rinehart AO (née Hancock, born 9 February 1954) is an Australian billionaire mining magnate and heiress. Rinehart is the Executive Chairwoman of Hancock Prospecting, a privately owned mineral exploration and extraction company founded by her father, Lang Hancock.
Rinehart was born in Perth, Western Australia, and spent her early years in the Pilbara region. She boarded at St Hilda's Anglican School for Girls and then briefly studied at the University of Sydney, dropping out to work with her father at Hancock Prospecting. She was Lang Hancock's only child, and when he died in 1992 she succeeded him as executive chairwoman. She turned a company with severe financial difficulties into the largest private company in Australia and one of the largest mining houses in the world.
When Rinehart took over Hancock Prospecting, its total wealth was estimated at A$75 million, which did not account for group liabilities and contingent liabilities of around A$100 million. She oversaw an expansion of the company over the following decade, and due to the iron ore boom of the early 2000s became a nominal billionaire in 2006. In the 2010s, Rinehart began to expand her holdings into areas outside the mining industry. She made sizeable investments in Ten Network Holdings and Fairfax Media (although she sold her interest in the latter in 2015), and also expanded into agriculture, buying several cattle stations, divesting them within a decade.
Rinehart is Australia's richest person. Her wealth reached around A$29 billion in 2012, at which point she overtook Christy Walton as the world's richest woman and was included on the Forbes list of The World's 100 Most Powerful Women. Rinehart's net worth dropped significantly over the following few years due to a slowdown in the Australian mining sector. Forbes estimated her net worth in 2019 at US$14.8 billion as published in the list of Australia's 50 richest people. However, her wealth was rebuilt again during 2020 due to increased demand for Australian iron ore, so that by May 2023, her net worth as published in the 2023 Financial Review Rich List was estimated in excess of A$37 billion; while in March 2021, The Australian Business Review stated her wealth equalled A$36.28 billion. As of September 2020 Forbes considered Rinehart one of the world's ten richest women. Rinehart was Australia's wealthiest person from 2011 to 2015, according to both Forbes and The Australian Financial Review; and again every year since 2020, according to The Australian Business Review and The Australian Financial Review.
Early life and family
Rinehart was born on 9 February 1954 at St John of God Subiaco Hospital in Perth, Western Australia. She is the only child of Hope Margaret Nicholas and Lang Hancock. Until age four, Rinehart lived with her parents at Nunyerry, 60 kilometres (37 mi) north of Wittenoom. Her family then moved to Mulga Downs station in the Pilbara. Later Rinehart boarded at St Hilda's Anglican School for Girls in Perth. She briefly studied economics at the University of Sydney, before dropping out and working for her father, gaining an extensive knowledge of the Pilbara iron-ore industry. Rinehart rebuilt the HPPL company to become one of the most successful private companies in Australia's history.
In 1973, at age 19, Rinehart met Englishman Greg Milton while both were working in Wittenoom. At this time Milton changed his surname to an earlier family name Hayward. Their children John Langley and Bianca Hope were born in 1976 and 1977 respectively. The couple separated in 1979 and divorced in 1981. In 1983, she married corporate lawyer and Arco executive, Frank Rinehart, in Las Vegas. They had two children, Hope and Ginia, born in 1986 and 1987 respectively. Frank Rinehart received a scholarship to Harvard for his services in the then US Army Air Corps. He was top of Harvard College, and then top of Harvard Law School, while also studying engineering, and holding a full-time and two part time jobs. Frank Rinehart died in 1990.
Rinehart and her step-mother, Rose Porteous, were involved in a legal fight from 1992 over Hancock's death and bankrupt estate. The ordeal ultimately took 14 years to settle with Hith HPPL retaining the mining tenements that Porteous had endeavored to allege did not belong to the company.
In 1999, the Western Australian state government approved a proposal to name a mountain range in honour of her family. Hancock Range is situated about 65 kilometres (40 mi) north-west of the town of Newman at 23°00′23″S 119°12′31″E / 23.00639°S 119.20861°E / -23.00639; 119.20861 and commemorates the family's contribution to the establishment of the pastoral and mining industry in the Pilbara region.
In 2003, at age 27, Rinehart's son John changed his surname by deed poll from his birth name Hayward to Hancock, his maternal grandfather's name. Since 2014, Rinehart has had a difficult relationship with her son, John; and was not present at his wedding to Gemma Ludgate. John's sister, Bianca Hope Rinehart, who was once positioned to take over the family business, served as a director of Hancock Prospecting and HMHT Investments until 31 October 2011, when she was replaced by her half-sister, Ginia Rinehart. In 2013, Bianca married her partner Sasha Serebryako in Hawaii, but Rinehart did not attend the wedding. Rinehart's other daughter, Hope, married Ryan Welker, and they divorced while living in New York. Rinehart attended both her younger daughters' weddings.
Business career
Main article: Hancock ProspectingAfter the death of her father in March 1992, Rinehart became Executive Chairwoman of Hancock Prospecting Pty Limited (HPPL) and the HPPL Group of companies. All companies within the group are privately owned. With the notable exception of receiving a royalty stream from Hamersley Iron since the late 1960s, Lang Hancock's mining activities were mainly related to exploration and the accumulation of vast mining leases. The BBC journalist, Nick Bryant, argues that while Rinehart was a beneficiary of her father's royalty deals, she "transformed the family business by spotting, earlier than most, the vast potential of the China market."
Rinehart achieved the Roy Hill tenements in 1993, the year after her father's death, having applied for them five months after her father's passing, and focused on developing Roy Hill and Hancock Prospective undeveloped deposits, raising capital through joint venture partnerships and turning the leases into revenue producing mines.
Hancock Prospecting, now owns 50 per cent of Hope Downs and shares of 50 per cent of the profits generated by the 4 Hope Downs mine, which is operated by Rio Tinto under a joint management committee and produces 47 million tonnes of iron ore annually. Another joint venture with Mineral Resources at Nicholas Downs, northwest of Newman, is producing 500 million tonnes of ferruginous manganese. Majority stakes in the Alpha Coal and Kevin's Corner coal projects in Central Queensland were sold to GVK in 2011. After receiving approval from the Commonwealth Minister for the Environment in 2012, these coal projects were subsequently not developed. The Roy Hill Iron ore project, south of Port headline, in the Pilbara produces 60 million tonnes a year, with approvals pending to reach 70 million tonnes per annum.
In 2010, Rinehart took a 10 per cent stake in Ten Network Holdings; James Packer had acquired an 18 per cent stake in the same company shortly before. Since then she also acquired a substantial stake in Fairfax Media. Rinehart was a major player in the media and no longer limits her interests to the mining business. In February 2012 she increased her stake in Fairfax to over 12 per cent, and became the largest shareholder of the company. Fairfax journalists were reportedly fearful that she wanted to turn them into a "mouthpiece for the mining industry". In June 2012, she increased her stake further to 18.67 per cent, and was believed to be seeking three board seats and involvement in editorial decisions in Fairfax's newspaper division. Negotiations between Fairfax and Hancock Prospecting broke down in late June because of disagreements over Fairfax's editorial independence policy and other issues relating to board governance; chairman Roger Corbett subsequently announced that Rinehart would not be offered any seats on the board. After failing to get board representation she sold her shareholding in 2015.
In 2015, Rinehart was listed as the 37th-most-powerful woman in the world by Forbes; a decline from her 2014 and 2013 rankings as the 27th- and the 16th-most-powerful woman, respectively.
Later the same year, Rinehart acquired Fossil Downs Station after it was placed on the market for the first time in 133 years. The 4,000-square-kilometre (1,544 sq mi) property was stocked with 15,000 head of cattle and the sale price was not disclosed, but it was estimated to be between A$25 to 30 million. Rinehart had acquired a 50% stake in Liveringa and Nerrima Stations in 2014 for A$40 million.
In October 2015, Rinehart planned to open the huge Roy Hill mine just eight months after she secured A$7.9 billion in funding. Initial shipments of iron ore were sent to China. In October 2016, it was announced that Hancock Prospecting had struck a deal to invest in AIM-listed UK-based mining company Sirius Minerals to help bring to fruition their North Yorkshire Polyhalite Project.
Political activities
In the 1970s, Rinehart was an active supporter of the Westralian Secession Movement, which her father had founded to work for the secession of Western Australia from the rest of the country. She also had some involvement with the Workers Party (later renamed the Progress Party), a libertarian organisation founded by businessman John Singleton.
Rinehart opposed the Rudd government's Mineral Resource Rent Tax and Carbon Pollution Reduction Scheme as part of a group of mining magnates that included Andrew Forrest. She founded the lobby group ANDEV, ("Australians for Northern Development and Economic Vision") and has sponsored the trips of prominent climate change denier Christopher Monckton to Australia. In October 2021, Rinehart garnered controversy after expressing climate change denialist views during a speech at her childhood primary school.
Since 2010 Rinehart has been actively promoting the cause of development of Australia's north and has spoken, written articles and published a book on this topic. Rinehart stresses that Australia must do more to welcome investment and improve its cost competitiveness, particularly when Australia faces record debt. She advocates a special economic zone in the North with reduced taxation and less regulations and has enlisted the support of many prominent Australians, plus the Institute of Public Affairs. In a 2012 article in the Australian Resources and Investment Magazine, Rinehart said that if people wanted to have more money they should "stop whingeing" and "Do something to make more money yourself − spend less time drinking or smoking and socialising, and more time working". She criticised what she saw as the "socialist" policies of the Australian Government of "high taxes" and "excessive regulation".
External videos | |
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Gina Rinehart YouTube Monologue, Sydney Mining Club | |
Gina Rinehart calls for Australian wage cut, BBC |
In a video posted to the Sydney Mining Club's YouTube channel on 23 August 2012, Rinehart expressed concern for Australia's economic competitiveness, noting how "Indeed if we competed in the Olympic Games as sluggishly as we compete economically, there would be an outcry." She said, "Furthermore, Africans want to work, and its workers are willing to work for less than two dollars a day. Such statistics make me worry for this country's future." Rinehart's views were dismissed by the Australian Prime Minister, Julia Gillard, who said that "It's not the Australian way to toss people $2, to toss them a gold coin, and then ask them to work for a day" and that "we support proper Australian wages and decent working conditions." The Australian Deputy Prime Minister and Treasurer at the time, Wayne Swan, described Rinehart's statement as an "insult to the millions of Australian workers who go to work and slog it out to feed the kids and pay the bills."
Rinehart is a supporter of Donald Trump.
Hope Margaret Hancock Trust
In 1988, Lang Hancock established the Hope Margaret Hancock Trust, nominating Rinehart as trustee, with his four grandchildren named as beneficiaries. Gina Rinehart was appointed to run the trust until the youngest of her four children, Ginia Rinehart, turned 25 in 2011. The Trust owns 23.6% of the shares in Hancock Prospecting, and as of June 2015 was believed to be valued at about A$5 billion.
In 2011, Rinehart's daughter, Hope Rinehart Welker, commenced a commercial action in the New South Wales Supreme Court for reasons understood to be related to the conduct of the trustee. The action sought to remove Rinehart as sole trustee. Her brother, John, and sister, Bianca, were later revealed as parties to the dispute.
In an agreement reached between the parties, the Court granted an interim non-publication order in September 2011. In making the interim order, Justice Paul Brereton stated: "This is not the first occasion of discord in the family, which has immense wealth, no small part of which resides in the trust. In the past, the affairs of the family, including such discord, has attracted considerable publicity in the media." Then, in a judgement handed down on 7 October 2011, Justice Brereton stated that he intended to dismiss an application by Rinehart, that there be a stay on court action, and that the family be directed into mediation. In December 2011, three justices of the NSW Court of Appeal lifted the suppression orders on the case. However, a stay was granted until 3 February 2012 and extended by the High Court of Australia until 9 March 2012. Rinehart's application for suppression was supported by Ginia Rinehart, but was opposed by Hope, John and Bianca. A subsequent application by Rinehart for a non-publication order on the grounds of fear of personal and family safety was dismissed by the NSW Supreme Court on 2 February 2012. In March 2012, when the suppression order was lifted, it was revealed that Rinehart had delayed the vesting date of the trust, which had prompted the court action by her three older children.
Rinehart stood down as trustee during the hearing in October 2013. While Rinehart's lawyers subsequently declared any legal matters closed, John and Bianca's legal representatives proceeded with a trial in the NSW Supreme Court to deal with allegations of misconduct. The Court handed down its decision on 28 May 2015 in which Bianca was appointed as the new trustee.
Net worth
Rinehart is one of Australia's richest people, with Forbes estimating her net worth in 2019 at US$14.8 billion as published in the list of Australia's 50 richest people, and The Australian Financial Review estimating her net worth in 2023 at A$37.41 billion—the wealthiest Australian as published in the 2023 Financial Review Rich List. Forbes considers Rinehart one of the world's richest women.
Rinehart first appeared on the 1992 Financial Review Rich List (at the time called the BRW Rich 200, published annually in the BRW magazine, following the death of her father earlier that year. She has appeared every year since, and became a billionaire in 2006. Due to Australia's mining boom in the early 21st century, Rinehart's wealth increased significantly since 2010, and she diversified investments into media, taking holdings in Ten Network Holdings and Fairfax Media. According to BRW, she became Australia's richest woman in 2010, and Australia's richest person in 2011, and the first woman to lead the list. During 2012, BRW claimed Rinehart was the world's richest woman, surpassing Wal-Mart owner Christy Walton.
In 2007, she first appeared on Forbes Asia Australia's 40 Richest, with an estimated wealth of US$1 billion; more than doubling that the next year to US$2.4 billion; and then, in spite of the global financial crisis, by 2011 had more than trebled to US$9 billion; doubled again in 2012 to US$18 billion; a slight reduction in 2013 to US$17 billion; and a slight increase in 2014 to US$17.6 billion. While still Australia's richest person, her wealth had reduced to US$12.3 billion by 2015 according to Forbes, and in 2016 Forbes assessed her net worth at US$8.5 billion, placing her second on the list. Releasing the results in February 2011, Forbes was the first to name her as Australia's richest person; with BRW conferring the same title in May that year.
In June 2011, Citigroup estimated that she was on course to overtake Carlos Slim, the Mexican magnate worth US$74 billion and Bill Gates, who is worth US$56 billion, mainly because she owns her companies outright. Using a price-to-earnings ratio of 11:1 that applied at that time to her business partner, Rio Tinto, the Australian internet business news service, SmartCompany, stated: "It is possible to see Rinehart's portfolio of coal and iron ore production spinning off annual profits approaching US$10 billion", giving her a "personal net worth valuation of more than US$100 billion".
In January 2012, there were further media reports that Rinehart's estimated wealth has increased to A$20 billion following estimates that the Roy Hill project was notionally valued at A$10 billion. Forbes magazine ranked her as the fourth-richest woman in 2012 with US$18 billion; the fifth-richest woman in 2013 with US$17 billion; and the sixth-richest woman in 2014 with US$17.6 billion. In 2012, BRW estimated her wealth at A$29.17 billion, with Ivan Glasenberg being her closest rival, with net wealth estimated at A$7.4 billion. At the time, BRW stated that it was possible Rinehart would become the first person with a net wealth of US$100 billion. As of December 2012, according to the Bloomberg Billionaires Index, Rinehart was the 37th-richest person in the world, with an estimated net worth of US$18.6 billion.
Rinehart's wealth rankings between 2013 and 2019 were adversely impacted by the fall in the wholesale iron ore price and the fall in the AUD/USD exchange rate. In May 2016, she had fallen from wealthiest Australian in 2011 to fourth, with A$6.06 billion, surpassed by property developer Harry Triguboff, with A$10.62 billion. By 2020, according to The Australian Financial Review, Rinehart had an estimated net worth of A$28.89 billion and was restored to the mantle of the wealthiest Australian; it was a title that she has maintained since that date, progressively increasing her net worth, year on year.
Wealth rankings
Year | Financial Review Rich List |
Forbes Australia's 50 richest | ||
---|---|---|---|---|
Rank | Net worth A$ | Rank | Net worth US$ | |
2006 | 8 | $1.80 billion | ||
2007 | 4 | $4.00 billion | 14 | $1.00 billion |
2008 | 5 | $4.39 billion | 6 | $2.40 billion |
2009 | 4 | $3.47 billion | 7 | $1.50 billion |
2010 | 5 | $4.75 billion | 9 | $2.00 billion |
2011 | 1 | $10.31 billion | 1 | $9.00 billion |
2012 | 1 | $29.17 billion | 1 | $18.00 billion |
2013 | 1 | $22.02 billion | 1 | $17.00 billion |
2014 | 1 | $20.01 billion | 1 | $17.60 billion |
2015 | 1 | $14.02 billion | 1 | $12.30 billion |
2016 | 4 | $6.06 billion | 2 | $8.50 billion |
2017 | 3 | $10.40 billion | 1 | $14.8 billion |
2018 | 3 | $12.68 billion | 1 | $17.4 billion |
2019 | 2 | $13.81 billion | 1 | $14.8 billion |
2020 | 1 | $28.89 billion | ||
2021 | 1 | $31.06 billion | ||
2022 | 1 | $34.00 billion | ||
2023 | 1 | $37.41 billion |
Legend | |
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Icon | Description |
Has not changed from the previous year | |
Has increased from the previous year | |
Has decreased from the previous year |
Philanthropy
In a 2006 Business Review Weekly article reviewing the way Australia's rich support philanthropy, it was noted that Rinehart prefers to keep a low profile, partly to avoid being "harassed by other charities" and partly for reasons of privacy. Rinehart is publicly known for visiting girls' orphanages in Cambodia and is on the expert advisory board of SISHA, a Cambodian non-profit organisation campaigning against human trafficking, in particular by rescuing and assisting sexually exploited women and children.
In 2012 Swimming Australia announced a $10 million funding arrangement over 4 years with the Georgina Hope Foundation in conjunction with Hancock Prospecting. The deal supports the Australian Swim Team through direct payments to elite and targeted development swimmers, as well supporting lesser known sports such as synchronised swimming. The arrangement was renewed for a further 2 years in August 2015 and includes naming rights to various Swimming Australia events, including the Australian Swimming Championships. As recently as 2019, the sporting group described Rinehart as “part of team” and “part of the swimming family.". In 2016 Rinehart also began to sponsor the Australian Rowing Team with a significant investment to improve direct financial athlete assistance for the Rio Olympic Games as well as for the four years, leading into the 2020 Tokyo Olympics. It is understood that the deal now also extends to Paris 2024. This further investment is said to make Rinehart the largest individual donor to Olympic sport in Australian history.
Awards
In 2022, Rinehart was appointed as an Officer of the Order of Australia (AO) in the 2022 Australia Day Honours for "distinguished service to the mining sector, to the community through philanthropic initiatives, and to sport as a patron".
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Further reading
- Bryant, Nick (May 2012). "What Gina Wants: Gina Rinehart's quest for respect and gratitude". The Monthly. Australia. Retrieved 6 September 2012.
- Cadzow, Jane (21 January 2012). "The iron lady". The Age. Australia. Retrieved 17 February 2012.
- Finnegan, William (25 March 2013). "The miner's daughter : Gina Rinehart is Australia's richest–and most controversial–billionaire". The New Yorker. Vol. 89, no. 6. pp. 76–87. Retrieved 9 September 2015.
- Ferguson, Adele (2012). Gina Rinehart : the untold story of the richest person in Australian history. Sydney, N.S.W.: Pan Macmillan Australia. ISBN 978-1-74261-097-9. OCLC 781690232.
- Marshall, Debi (2012). The House of Hancock: The Rise and Rise of Gina Rinehart. Sydney: William Heinemann Australia. ISBN 9781742756745.
- Newton, Gloria (19 February 1975). "Lang Hancock's daughter comes of age". The Australian Women's Weekly. National Library of Australia. p. 10. Retrieved 14 January 2011.
External links
Media related to Gina Rinehart at Wikimedia Commons
- Video portrait on ABC's Hungry Beast
- Rinehart, Gina (1954–) at The Encyclopedia of Women and Leadership in Twentieth-Century Australia
- 1954 births
- Living people
- Australian billionaires
- Australian chairpersons of corporations
- Australian mining businesspeople
- Australian women in business
- Female billionaires
- Lang Hancock family
- Officers of the Order of Australia
- People educated at St Hilda's Anglican School for Girls
- Businesspeople from Perth, Western Australia
- Women business executives
- Women in mining