The Australian mining business magnet Gina Rinehart is one of the richest women in the world. She was born to Margaret Nicholas and Lang Hancock in Perth, a city of Western Australia, on February 9, 1954. Just 2 years before her birth, her father discovered the largest iron ore mine in the world and founded the Hancock Prospecting Group to mine out iron ore. So, Gina had abundance of fortune around her and enjoyed a privileged childhood.
Gina’s career was written like a movie script by her father. From a very early age, he groomed his daughter as his successor. Gina attended an Anglican girl’s school for elementary education. She was more attentive in her father’s mining business than her education.
She regularly joined the confidential board meetings of her father’s company and accompanied her father in every business trip. She became so interested in business life that couldn’t even complete her education. She enrolled at the Sydney University to study economics but dropped out after a year finding it boring.
After leaving the university, she concentrated on her father’s mining business sincere. This made his father feel happy. He started to let her daughter take the responsibilities of his mining empire gradually. Gina too was too courageous to stay idol. She took part in every decision making meetings of the company and began to exert her knowledge.
In 1992, Gina’s father Lang Hancock died. So, Gina being the sole heir took over the responsibility of her father’s business and began to run it on her own. She became the chairperson of the Hancock Prospecting Pty Limited (HPPL). The company till then only focused in taking lease of big mines and gaining profit from those mines. But, Gina wanted to change the scenario. She decided to diversify the company and expand it globally. She concentrated on acquisition and merger with bigger companies. She also earned several big investors and partner corporations to raise capital for expansion.
Besides iron ore, Gina focused on producing many other minerals like Manganese, steel, silver etc. She also made a joint venture with mineral producing giants like Rio Tinto and Mineral Resources Limited on 50/50 partnership. Later, she expanded her mining business in many other countries across Europe and Africa.
Gina Rinehart wanted to explore in diverse fields of business as she invested heavily in holdings and real estate business. She also grew interest in media and communication and over the years, she brought several media company shares. In the year 2010, she bought 10% stakes of the Ten Network Holdings, a famous media company in Australia. In 2012, she purchased stakes from another big media company Fairfax. She also invested in cattle business and bought a massive cattle station Fossil Downs in 2015.
Gina Rinehart has been a great philanthropist throughout her career. But, it was not a familiar fact till 2006 when a famous Australian magazine Business Review Article revealed a report on her preference of secrecy about donations as she thought, news about donation could bring harassment from various charity organizations. She is associated to numerous charity works for orphan girls in Australia. She runs several orphanages and publicly visits there on regular basis. She also donated millions of dollars for the development of swimming in Australia. She also arranges many big swimming events like Australian Swimming Championship.
Gina Rinehart earned numerous accolades and honors for her activities. She won the Australian Export Hero award for her contribution to the growth Australian export business through iron ore. In 2011, the Australian Government awarded her The Government Media Mining award for her contribution in mining industry. As her business promoted Australian mineral market globally, she was honored with the Australian Trailblazer award. She also became the Chairperson of the Year 2014 by CEO Magazine. Chartered Institute of Logistics and Transports honored her with lifetime achievement award.
Gina Rinehart got married to Greg Milton in 1971 and had 2 children before being divorced in 1981. Her second marriage took place in 1981 with Frank Rinehart, a German-American corporate lawyer. She has 2 more children with her second husband. Frank died in 1980 and since then, Gina is leading her life alone. Her current net worth is $15.9 billion which makes her the 75th richest business person in the world.