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Gina Rinehart Facts

Australia's richest women

  • Gina Rinehart's full name is Georgina "Gina" Hope Rinehart.
  • Rinehart was born 9 February 1954 at St John's, Perth, Western Australia.
  • In her early years, she spent time in the infamous Western Australia town of Wittenoom where her father established an asbestos mining industry. Wittenoom was shutdown after asbestos poisoning deaths.
  • She boarded at a girls college in Perth and was mentored by her father in the mining business.
  • She studied economics at The University of Sydney.
  • During her teenage, she met Englishman Greg Milton, while both were working in Wittenoom. The two latter married.
  • Rinehart and Milton (Hayward) had two children, John Langley and Bianca Hope.
  • The couple separated in 1979 and divorced in 1981.
  • After the death of her mother to cancer, her father married Rose Lacson (now Porteous), a former maid from the Philippines 39 years his junior.
  • With Rinehart not approving this, she was ousted as a director from the family firm for five years.
  • She is the heiress of Hancock Prospecting, and the only daughter of mining magnate Lang Hancock. She had an estimated fortune of $18 billion at that time.
  • She joined the family mining business and at 21 years, she proposed some revolutionary changes in the mining business. She suggested the use of nuclear explosion in open cut mining.
  • Rinehart is media shy and is extremely careful about her security. She always moves in bullet proof cars, has bullet proof windows both at office and her residence and has former SAS men as her bodyguards.
  • She protested against the proposed mining tax in 2010.
  • In May 2006, she was named as the Australia's first female billionaire with a value of A$1.8 bn by Business Review Weekly Magazine. Later in 2010, she was mentioned in BRW Rich 200 as Australia's richest woman with an estimated net worth at A$4.75 bn. More recently, the Forbes Asia 2011 named her as the Australia's richest person.
  • Rinehart was involved in a protracted legal battle with her stepmother, Rose Porteous, over the circumstances that led to the death of Hancock, and the distribution of his estate. The action, commenced by Rinehart in 1992, was eventually settled in 2003 following a coronial inquiry that determined Hancock died of natural causes.
  • Three of Rinehart's four children, Hope Rinehart Welker, John Hancock, and Bianca Reinhart, commenced legal action over a commercial dispute relating to a family trust fund, where Rinehart is trustee.
  • In September 2011, her three children alledged serious misconduct in dealing with the trust by changing the vesting date without their approval, pressuring them to accept changes in operations and not providing them with information they sought.
  • In June 2011, Citigroup estimated that she was on course to overtake Carlos Slim, the Mexican magnate worth 46 billion (US$74 billion) and Bill Gates, who is worth 35 billion (US$56 billion), mainly because she owns her companies outright.
  • In May 2012, BRW named her as the world's richest woman, having surpassed Christy Walton.
  • Forbes magazine listed her wealth in 2012 as US$18 billion.

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