The world’s richest woman is someone you wouldn’t expect as Gina Rinehart has been announced as the richest woman in the world by a respectable business magazine.
While very few people may know who exactly Gina Rinehart is, the Australian business magazine BRW has named her the world’s wealthiest woman, and Citigroup has also predicted that the 58-year-old businesswoman will soon top the global rich list, with more than $100 billion of assets to her name.
According to BBC News, when Gina’s father, Lang Hancock, discovered one of the world’s biggest iron reserves in the early 1950s, the export of iron ore was banned in Australia because it was deemed such a scarce and finite resource. Now, the reserve keeps growing and exporting and has made Rinehart the richest woman in the world.
While it’s obvious that Rinehart benefits from her continuously growing wealth, Australia has benefited as well according to Rinehart, who firmly believes that her father’s discovery also made Australia prosperous, which partly drives her recent quest for influence, gratitude and respect.
Rinehart currently has an estimated net personal wealth of $29.3 billion. Moreover, Rinehart has in recent years gone from being Australia’s richest woman to Asia’s richest woman to arguably the world’s.
While mining is her main source of income, she also owns a share of Channel Ten, one of the three major commercial television networks in Australia, and has also become the single biggest shareholder in Australia’s second largest newspaper group, Fairfax Media.
While Rinehart has invested these outside projects, both of which not the most attractive investments as Channel Ten lost half its value and Fairfax Media just recently announced hefty job cuts, Rinehart’s motive for these investments derive more from a political standpoint than a financial one according to experts.
Many have described the recently announced world’s richest woman as a rigid money hungry woman as she recently has been in a highly-publicised legal battle with three of her four children over a family trust set up by Lang Hancock for his grandchildren. The trust, which owns a share of her company, was due to settle its assets last September, when Lang’s youngest grandchild, Ginia, turned 25. However, Rinehart allegedly tried to push back the date that her children could become trustees until 2068.
Meanwhile, Rinehart continues to happily work in the area of which brought her so much wealthy as she wittingly says, “Beauty is an iron mine.”
The World’s Richest Woman is Someone You Wouldn’t Expect!