Motivational Poster

Motivational Poster

WELCOME TO THE COLLECTIVE THOUGHTS OF THOSE WHO CURSE THE STUPID AND DAMN THE MALEVOLENT


Saturday, February 19, 2011

Australia’s Richest and Most Powerful: How they got there


Gina Rinehart (personal wealth, AUS $9 billion)



As the sole heir, Gina Rinehart inherited her mining magnate father, Lang Hancock's, wealth, businesses and related opportunities.

When she was 29, she married Frank Rinehart, a 57 year old American corporate lawyer. He died in about 1990.

Following the death of her father in March 1992, Mrs Rinehart became Executive Chairman of the Hancock Group of companies.

She commenced an acrimonious legal fight in 1992 with her stepmother, Rose Porteous, over the circumstances of her father's death and control of the Hancock assets. The court cases and negotiations ultimately took 14 years to settle.



In 1999, her proposal to name a mountain range after her family was approved. The Hancock Range is north-west of the town of Newman.

As of 2010, her daughter Bianca Rinehart was a member of the executive management team and a director of several Hancock companies.

It would take you 9,000 years of earning 1 million dollars per year to save Gina's personal wealth. It would take the average Australian 160,000 years.

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