Gina Rinehart Biography & Net Worth
Gina Rinehart Biography & Net Worth
|Georgina Hope Rinehart
|9 February 1954
Perth, Western Australia
Greg Hayward (m. 1973; div. 1981)
Frank Rinehart (m. 1983; died 1990)
|Businesswoman, Investor, Entrepreneur, Miner
With an incomprehensible net worth that runs into several billions of dollars, Gina Rinehart is the wealthiest citizen of Australia. Driven by inflated iron ore prices, our person of interest increased her personal worth by more than two billion dollars in six months to remain in the top spot on the 2021 Australian Financial Review Rich List. In case you’re wondering, Rinehart is the Executive Chairman of one of Australia’s leading mining companies, Hancock Prospecting, which has accrued much of its profits from the Roy Hill mining project. The privately-owned mineral exploration and extraction company firm was founded by her father, Lang Hancock, from whom Gina inherited the business upon his passing.
As Australia’s richest woman, Gina Rinehart leads an undoubtedly lavish lifestyle. We shall talk about her life and successful career, in full, in this article.
Early Life: Childhood & Education
Georgina Hope “Gina” Rinehart is the daughter and only child of Lang Hancock and Hope Margaret Nicholas. She was born in Perth, Australia on February 9, 1954. Until she reached the age of four, Gina lived in Nunyerry, 37 miles north of Wittenoom with her parents. The family later relocated to Mulga Downs in Pilbara.
Gina attended boarding school at Saint Hilda’s Anglican School for Girls in Perth. After studying economics for a short period at the University of Sydney, she quit her studies and went to work for her father, and in the process, she gained all-encompassing knowledge and experience about the Pilbara iron-ore industry. Gina would go on to rebuild the Hancock Prospecting Pty Limited company to become one of the most successful companies in Australian history.
Professional Life: Career, Businesses
When her father passed on in March 1992, it was in Gina’s position to take over from him and continue from where he stopped as his only child and heir.
Gina took over as the Executive Chairman of Hancock Prospecting Pty Limited and the Hancock Prospecting Pty Limited Group of companies and immediately started to rebrand her late father’s business. Five months after the death of her father, Gina applied for the Roy Hill Tenements. She got them later on and concentrated on industrializing Roy Hill And Hancock Prospective deposits that weren’t developed at the time, raising capital through various joint venture partnerships, and turning the leases into income-making mines. Hancock Prospecting now owns roughly 50 percent of Hope Downs and shares around 50 percent of the profits generated by the four Hope Downs Mine.
In 1999, a mountain range was named in honor of the Rinehart family by the Western Australian state government.
In 2010, Gina Rinehart bought a stake in media organizations, thus, becoming a major shareholder in Fairfax Media and taking a substantial share in Ten Network Holdings. In 2011, she was first crowned the wealthiest person in Australia, a title she continues to hold even after a decade. In 2012, it was reported that Gina was the richest woman on the planet, having surpassed Christy Walton. However, by 2013 she was ranked as the fourth-richest woman alive, and by 2014, the sixth richest. In 2015, she was named as the 37th most powerful woman on the planet by Forbes, down from 2014 and 2013 where she was ranked the 16th and 27th most powerful woman.
Gina Rinehart acquired Fossil Downs Station in the year 2015 after it was listed for sale for the first time in a hundred and thirty-three years. It is estimated to be worth about $25-30 million. In October 2015, just eight months after securing about $7.9 billion in funding, she planned the inaugural of the huge Roy Hill mine. In October 2016, it was disclosed to the public that Hancock Prospecting Pty Limited had reached an agreement to invest in Sirius Minerals, a UK-based mining company.
Known for her disapproval of the Australian federal government over its plans to tax the mining industry, Gina’s wealth has increased exponentially since 1992. The current coal and iron ore-fueled mining boom has melodramatically provided a boost for her bottom line.
Achievements: Awards & Honor
In recognition of an astonishing contribution to the development and growth of Australian exports, Gina Rinehart was honored with the Australian Export Heroes Award in 2009. Two years afterward, she received the Government Media Mining Awards for her “Outstanding Leadership of a Mining Company”.
In 2012, for the very first time, the Trailblazer Award was presented to an individual rather than a company. The recipient was none other than Ms. Rinehart, who was crowned Trailblazer of Australia for promoting Australia on the international scene.
She rounded up the year 2014 with two awards, taking home the Chairperson of the Year award by CEO Magazine and also bagging The Chartered Institute of Logistics and Transport’s Lifetime Achievement Award.
Personal Life: Family, Husband, Children
When she was 19 years old, Gina Rinehart met Englishman Greg Milton while the two were working in Wittenoom in 1973. Around this time, Greg changed his last name Hayward, an earlier family name. In 1976, Gina gave birth to their son, John Langley, and the following year, she gave birth to a daughter, Bianca Hope. The pair divorced in 1981.
Two years after the end of her first marriage, she remarried corporate lawyer Frank Rinehart in Las Vegas. Frank had gotten a scholarship to Harvard for his contributions as a member of the United States Army. He graduated from Harvard College with top honors and then moved to complete his education at Harvard Law School, all while doing several full-time and part-time jobs. The couple had two children, Ginia and Hope, born in 1987 and 1986 respectively. Sadly, their marriage ended in grief when Frank died in 1990.
Gina and Lang Hancock’s estranged wife turned widow, Rose Porteous, were involved in a legal battle from 1992 over Hancock’s demise and bankrupt estate. The ordeal took fourteen years to settle.
Since 2014, the mining magnate has had a troubled relationship with her daughter Bianca and her son John, and she did not appear at either of their weddings.
Gina Rinehart Net Worth: Salary, Income Sources, Assets
This Australian mining heiress is probably best known for being one of the wealthiest and most powerful people in the world. She is the current richest person in Australia and has firmly held on to the title for over ten years. Gina serves as the Executive Chair of Hancock Prospecting group, a mining company she inherited from her late father. She owns total control of Hancock Prospecting Limited, which is the umbrella company of her family’s businesses. The company also has around 50 percent stake in the Hope Downs mine. Gina owns roughly 70 percent of the Roy Hill iron ore project that is located in Pilbara, Western Australia. She also owns 8 percent of Ten Network Holdings and 18 percent of Lakes Oil.
As of this writing, Gina Rinehart’s net worth is approximately $31 billion. She is a multi-billionaire as you can see, and she definitely lives a life of luxury. The mining tycoon owns expensive homes in many parts of Austria and is known for her fleet of luxury cars and a tasteful private jet for air travel.
Gina Rinehart does a lot of charity but purposefully downplays her efforts. She is passionate about women’s causes and allegedly paid for the building of an orphanage in Cambodia. In addition to this, she also sponsors the education of many poor young girls and does the best she can to curb human trafficking.