Australia’s richest person, Gina Rinehart, took to Twitter this morning to ask when the media were going to stop reporting on her family feud after her father released a statement breaking his silence.
Billionaire Gina Rinehart’s latest head to head with her billionaire brother, Hancock Coal Chairman Lang Hancock. Gina refers to her brother as a “dishonest businessman” and his actions as “appalling”.
Gina Rinehart’s Latest Head To Head With Her Brother
Gina Rinehart and her brother, Lang Hancock, have been feuding over the control of Hancock Prospecting since the death of their father in 2012. The dispute has come to a head in recent months as the two siblings have fought for control of the company’s assets.
In March, Rinehart filed a lawsuit against her brother claiming that he had not adequately paid her father’s estate and inheritance taxes. The lawsuit also alleged that Hancock had fraudulently transferred assets to himself. Hancock responded by filing a countersuit accusing his sister of having mismanaged the family business.
The rivalry between the Rinehart siblings is likely to continue as each attempts to gain an advantage in the battle for control of Hancock Prospecting.
What is Gina Rinehart’s Net Worth?
Gina Rinehart is an Australian business magnate, investor, and philanthropist who ranks as the world’s sixth richest person with a net worth of $29.5 billion as of March 2017. She is the founder, CEO, and chairperson of Hancock Prospecting Ltd., one of the world’s largest miners and natural resources companies.
Rinehart was born in 1942 in Perth, Western Australia, to Hazel (née Webster) and Frank Rinehart. Her father was a mining engineer who became a wealthy coal mine owner and developer. After completing her secondary education at Sorrento Valley High School, Rinehart studied economics at the University of Melbourne. She met mining magnate Andrew Forrest while he was still working for his father at Peabody Coal Company in the 1960s; they married in 1969.
Rinehart formed Hancock Prospecting Ltd. in 1978 with two other businessmen. The company began exploration for iron ore deposits in Western Australia and quickly become one of Australia’s largest miners and natural resources companies. During her tenure at Hancock Prospecting, Rinehart has acquired other mining companies including Roy Hill Mining Corporation, Fortescue Metals Group Ltd., and Rio Tinto plc. She
How Did Gina Rineheart Grow Her Money?
Gina Rinehart is the richest woman in the world with a net worth of $28.5 billion, according to Forbes. She made her fortune by founding and running Hancock Prospecting, one of Australia’s largest mining companies.
How did Gina Rinehart grow her money? In her early days, she worked as a secretary for Hancock Prospecting. She then started her own company, Hancock Iron Ore, in 1967. She became one of Australia’s first female billionaires and one of the richest women in the world.
Today, Hancock Prospecting is one of the world’s largest mining companies with assets worth more than $25 billion. The company has operations in several countries, including Australia, Canada, Chile, Peru and Zambia. Hancock also owns a significant stake in Rio Tinto, one of the world’s leading mining companies.
Rinehart is known for her philanthropy. She and her husband have donated more than $2 billion to charity since they married in 1988. They founded the Hope Foundation, which provides grants to help disadvantaged children and young people in Australia and around the world.
Rinehart is also a member of the Australian Business Council and the Australian Prime Minister’s Business Advisory Group
Philanthropy and Charity Work
In recent years, Gina Rinehart and her brother, John Hancock, have both become increasingly involved in philanthropy and charity work. The two siblings have teamed up to create the Hancock Foundation, a philanthropic organization that focuses on creating innovative solutions to major global challenges.
Gina Rinehart has been involved in a number of notable philanthropic initiatives over the past few years. In 2011, she donated $25 million to establish the John S. and James L. Knight Foundation’s Global Challenge Funds, which support projects that aim to improve health and education in developing countries. The following year, she donated $20 million to fund the University of Melbourne’s Institute for Sustainable Futures. And most recently, she donated $30 million to the Sydney Opera House Fund to help finance its redevelopment project.
John Hancock has also been involved in a number of noteworthy charitable initiatives over the past few years. In 2013, he donated $100 million to support life-saving cancer research projects around the world. He also pledged $1 billion over five years to support global education initiatives. And most recently, he pledged $500 million over five years to support renewable energy projects around the world.
Overall, these philanthropic initiatives demonstrate that Gina
In a recent head-to-head interview with The Sydney Morning Herald, Gina Rinehart took aim at her younger brother, Lang Hancock. The miners’ rights activist accused Lang of trying to “divide and conquer” the mining empire that was once jointly owned by the two siblings. According to Gina, Lang is now “trying to push me out.” It will be interesting to see how this rivalry plays out in the months and years ahead.