Gina Rinehart stands as a towering figure in Australian business, making a name for herself as one of the richest people not only in Australia but the world. The daughter of an iron ore mining tycoon, Rinehart has transformed her father’s business into a multibillion-dollar empire – one of the biggest in the world. The Australian businesswoman inherited the Hancock Prospecting mining in 1992 following her father, Lang Hancock’s death. At the time, the company was struggling and facing some challenges, but driven by the iron ore boom, the business exploded in value and began to diversify into various new sectors.
Not only does Rinehart earn her wealth from minerals, but she is also Australia’s second-largest cattle producer, with a huge range of farms and pastures spread across the country. Now aged 71, the Australian mogul is valued at an eye-watering £22billion, making her the 61st richest person in the world, according to Forbes.
Despite her cattle and investments in oil and minerals, iron ore still drives Rinehart’s wealth to what it is today. Her business hit a record £2.7billion in net profit in 2024 on £7billion of sales last year, with her Roy Hill station being one of the largest deposits of iron anywhere in the world.
The businesswoman also recently hit headlines for her support and closeness to US President Donald Trump. She was invited to his election victory party in Florida as well as making an appearance at the Capitol in Washington D.C for his inauguration.
Speaking to Forbes Australia she publicly supported Trump’s outlook and said she wants to “Make Australia great,” she revealed: “President Trump says it simply, ‘Make America Great Again.’ That’s what we need here, to ‘Make Australia Great.’ It requires our politicians wanting Australians to have the benefit of returning to the ‘up’ path.”
Echoing the hit show Succession, Rinehart has been embroiled in a lengthy legal battle with her children over the mining assets her father left behind in the family trust.
Her children, John Hancock and Bianca Rinehart, claim that their grandfather placed the assets in the trust partly for their benefit, with their lawyers alleging Gina committed fraud with iron ore mining tenements now worth billions of dollars.
Gina and her company are claiming that the assets were just for her benefit and that her children’s claims are incorrect.
Beyond business, Rinehart’s lifestyle reflects her incredible wealth. In 2021, she was rumoured to have purchased a £27million beach mansion in Noosa, Queensland, making it one of the most expensive homes ever sold in the state.
