Gina Rinehart Net Worth, Early Life, Education, Family, Relationships, Business, Politics, Philanthropy and Dispute

Published Date   19th Aug. 2017, 00:22 am
Gina Rinehart Net Worth, Early Life, Education, Family, Relationships, Business, Politics, Philanthropy and Dispute
Quick Info
Birth Name:Gina Rinehart
Date of Birth:09/02/1954
Age: 64 years old
Nationality:Australian
Net Worth:A$ 10.60 billion




The chairman of Hancock Prospecting, Gina Rinehart net worth escalated as she became a mining magnate eventually turning into one of Australia’s richest and world’s richest women.

Synopsis

Gina Rinehart started her career in Hancock Prospecting from the early age. It was a private mineral exploration and extraction company that her father founded. After the death of her father, she inherited 76.6% share of the company which rose Gina Rinehart net worth high enough. Being the only child, Rinehart succeeded him as executive chairman. Rinehart expanded the company outside the mining industry rapidly rising to become a nominal billionaire in 2006.

Early Life and Education

Gina Rinehart was born Georgina Hope Hancock on February 9 1954 in Perth, Western Australia. Her parents are Hope Margaret Nicholas and Lang Hancock. She holds an Australian nationality and is the only child of her parents. Rinehart grew up with her parents at Nunyerry until the age of 4.

Afterwards, Rinehart attended St. Hilda’s Angelica School for Girls in Perth. She later went to the University of Sydney where she studied economics. However, she dropped out of the university to help her father in his work. During this time, she gained vast knowledge of the Pilbara iron-ore industry.

Husband and Children

 

When Rinehart turned 19 in the year 1973, she met Englishman Greg Milton. They were both working in Wittenoom. Rinehart married Milton. The couple has 2 children, John Langley born in 1976 and Bianca Hope born in 1979. The couple, however, divorced in 1981 a couple of years of their separation.

Later. Rinehart re-married corporate lawyer, Frank Rinehart in 1983 in Las Vegas. She adopts her current surname from this marriage. The Rinehart couple has two children, Hope, born in 1986 and Ginia, born in 1987. In 1990, Frank Rinehart passed away.

Familial Relationship and Legal Issues

In 1992, Rinehart got involved in a legal fight with her stepmother Rose Porteous over Hancock’s death and estate. They went under trial for 14 years to settle the ordeal.

In 2003, Rinehart’s 27-year-old son John changed his surname from Hayward to his maternal grandfather’s name Hancock. The mother-son relation has been difficult. Therefore, Rinehart did not attend her son’s wedding to Gemma Ludgate.

Rinehart’s daughter, Bianca Hope Hayward served as a director of Hancock Prospecting and HMHT Investments. However, her half-sister Ginia Rinehart replaced her in 2011. Gina Rinehart did not even attend Bianca’s wedding to her partner, Sasha Serebryakov.

Rinehart’s another daughter, Hope, married Ryan Welker. Her husband is an American director of Mineral Resources (Hancock partial subsidiary). The couple live together in Sydney.

Business Career and Achievements

After the death of father in 1992, Gina Rinehart net worth rose as she became the Chairman of Hancock Prospecting Pty Limited (HPPL). In the recent years, she focused on developing the company’s underdeveloped deposits in addition to raising capital through joint ventures. Additionally, she focused on turning the leases into revenue producing mines.

During her time as Chairperson, the company has acquired substantial stake in Fairfax Media, due to which Gina Rinehart net worth rose. She kept on increasing the stakes to 18.67% in 2012. Later chair Roger Corbett announced that Rinehart would not be getting any seat on the board. Therefore, she sold stake holding in 2015.

In 2015, Gina Rinehart net worth rose as she acquired Fossil Downs Station. Further, she acquired 50% stake in Liveringa and Nerrima Stations in 2014 for A$ 40 million.

Political Activities and Activism

In 1970s, Rinehart showed her support to the Westralian Secession Movement, which her father had founded. Its motive was to work for the secession of Western Australia from the rest of the country. Gina Rinehart net worth grew additionally as she was involved with the libertarian organization founded by John Singleton, Workers Party (Progress Party).

Rinehart actively opposed the Rudd government’s Mineral Resource Rent Tax and Carbon Pollution Reduction Scheme. Similarly, she founded the group ANDEV and sponsored trips of remarkable climate change sceptics Christopher Monckton to Australia.

Rinehart has been actively promoting the cause of development of North Australia. Therefore, she has penned down articles, books and talked about this matter. She expressed her concern for Australia’s economic competitiveness in 2012.

Hope Margaret Hancock Trust and Dispute

In 1988, Lang Hancock founded Hope Margaret Hancock Trust. He nominated Gina Rinehart as the trustee until her youngest child turned 25 in 2011. Similarly, Lang made his 4 grandchildren the beneficiaries. The trust owns 23.6% shared in Hancock Prospecting worth A$ 5 billion.

In 2011, Hope Rinehart Welker sought an action in New South Wales Supreme Court to remove Rinehart as sole trustee. Her half-brother and half-sister John and Bianca also came up as the parties to dispute.

The court granted the parties interim order in 2011 in an agreement. The High Court of Australia extended Gina’s stay until March 2012. Ginia supported Rinehart’s application for suppression but her other three children opposed it.

In October 2013, Rinehart left the position of trustee. John and Bianca’s proceeded legal trial in the NSW Supreme Court. After court hearing, Bianca was appointed the new trustee on May 28, 2015.

Philanthropy and Acknowledgments

Gina Rinehart keeps her profile low regarding her philanthropic effort so as to avoid harassment from other charities as well as due to privacy concern. However, Gina Rinehart net worth and recognition rose as she became publicly known for visiting girls’ orphanages in Cambodia.

Similarly, Rinehart is active and expert advisory board of SISHA, a Cambodian non-profit organization that works against human and sex trafficking. There was an announcement in 2012, where it declared the Georgina Hope Foundation with Hancock Prospecting arranged $10 million fund to support Australian Swim Team.

In 2015, Forbes listed her 37th most powerful woman in the world. She was also in the list in the years 2014 and 2013.

Gina Rinehart net worth

In 2015, Forbes Asia estimated Gina Rinehart net worth to be US$ 12.3 billion. There are many reviews and records of her personal wealth. However, the most recent one i.e. 2017 data estimates Gina Rinehart net worth to be A$ 10.60 billion, which is equal to US$8.39 billion.

Because of the great business tactic and innovation, Hancock Prospecting saw a steeply high rise. In addition, Gina Rinehart net worth rose with the revenue of the company. As a result, Forbes ranked her as 4th richest woman in 2012 with US$18 billion. The continued to stay on the list within top 6 for the next couple of years.

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