‘Success never comes along, but through stern determination, perseverance and God’s grace’. A successful person is one who works hard but smartly. All of us would have certainly read about several successful stories of great men. But having read about a successful woman, I decided to compile about her and her achievements in brief. Hard work can make a man rich but can it make a woman the richest on Earth? Yes, this has been made utterly possible and the cogent evidence is none other than, ‘Gina Rinehart- The Iron lady of Australia’.
Georgina Hope Rinehart, the richest woman in Australia
Several magazines have reported Rinehart’s success stating that Georgina Hope Rinehart or Gina Rinehart, the richest person in Australia will soon become the richest person (woman) on Earth in just a few years from now. It is said that she will surpass both Carlos Slim and Bill Gates (currently the richest persons in the world) to become the richest person in the world. In a man-dominated world like ours, one would definitely be keen to know how this lone lady was able to achieve this unbelievable status at such an early age. To know more, let us briefly explore about her story and her success routes.
Georgina Hope Rinehart was born on 9th of February 1954 at Perth in Australia to the late mining magnate Lang Hancock and late Hope Margaret Nicholas. She studied at St Hilda’s Anglican School for Girls in Perth and later studied economics at The University of Sydney. Then she worked for her father as his Personal Assistant and gained extensive knowledge about iron-ore industry. Gina married twice, first to an Englishman Greg Milton whom she divorced later and then to Frank Rinehart who died in the year 1990.
Langley Hancock, Gina Rinehart’s father discovered the world’s largest iron ore deposits when she was just 38 years old. Then she inherited a debt-ridden iron ore company, ‘Hancock Prospecting’ from her father. After that, Gina Rinehart showed steady progress and started earning profit year after year through iron ore projects running in Western Australia and also through royalty payments received from mining companies with whom her father had negotiated. She also has few coal projects in Galilee Basin.
This 57 year old (as of 2011) woman has been amassing wealth for decades and has been subsequently appearing in almost all business magazines which mentioned her as one of the richest persons in Australia. Citigroup estimates that she would become the richest person in a few years from now as she is the sole owner of the huge property and does not have any share holders to pay for.
After the death of her father Lang Hancock in 1992, she became the Executive Chairman of HPPL and the HPPL Group of companies. In due course, she started off with legal fight with her step mother over her father’s death and also over Hancock’s assets which took 14 long years to complete. Later, she gradually developed those Hancock’s undeveloped iron ore deposits into operable mines which in turn earned her huge profits. As on 2010, Gina Rinehart’s daughter, Bianca Rinehart was the Director of most of the Hancock companies and also the member of the executive management team.
Georgina Hope Rinehart and Lang Hancock, her father
After the death of Rinehart’s father in 1992, her name appeared for the first time in the Business Review Weekly (BRW) in the Rich 200 list in the year 1992. And year after year, her name has been appearing in several magazines. In the year 2006, her name appeared in the billionaires list. Ultimately in the year 2010, news flashed in magazines declaring Gina as the richest woman in Australia and in the year 2011 she was declared as the richest person in Australia.
Her name first appeared among Australia’s 40 richest persons in Forbes magazine when her wealth estimate touched the mark of US$1 billion. Thereafter it doubled to US$2.4 billion in the following year and more than trebled to US$9 billion in the year 2011. Her growth did not stop here. Both Forbes and BRW declared her as the richest woman in the year 2011.
As per Citigroup’s prediction, Rinehart will soon overtake Carlos Slim whose wealth estimate is US$74 billion and also Bill Gates whose estimated wealth is US$56 billion. Reports say that owing to an increase in iron and ore production, Rinehart’s wealth is expected to touch a dazing US$100 billion.
Georgina Hope Rinehart and Ginia Rinehart, her daughter
Successor of the Dynasty
Recent reports reveal that Rinehart’s youngest daughter Ginia Rinehart has been appointed as the director of Hancock Prospecting. Now, it is the world’s richest and wealthiest dynasty that has mining projects spread over Queensland, Western Australia and also stake investments made in Fairfax Media and Ten Network Holdings. Of her four children, three of them except Ginia Rinehart have filed case against her in the NSW Supreme Court to remove her as the head of the family trust that took control of nearly 25 percent of the family’s wealth. Reports also say that Ginia Rinehart was appointed as the director of Hope Downs Marketing Company that has a tie up with another giant mining company, Rio Tinto.
As already mentioned Gina Rinehart will achieve the title of ‘World’s richest person’ in few years from now, beating the current richest persons. This is due to the fact that she does not have any shareholders and that she holds all rights of the company.
Amazing but Real
Although this woman has achieved this status during a short period of time, it is shocking to read about three of her four children having filed a case against her asking for her removal as the trustee of the multi billion company. In fact, this company was set up by Rinehart’s father Mr Hancock announcing his four grand children as its beneficiaries before he died.
Although several factors lie behind the success of a man, one of the common factors that we see in SUCCESSFUL persons is their DEVOTED HARD WORK. Hence, let us reshape our minds in order to apply this concept to fulfil our dreams. Good Luck, Rich Girls!
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