A businesswoman, heiress, and mining mogul from Australia. Her father, Lang Hancock, created the privately held mineral exploration and extraction business Hancock Prospecting, of which Rinehart is the executive chairman.
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Hancock Prospecting’s entire wealth was valued at A$75 million when Rinehart acquired it; group liabilities and contingent liabilities were not included in this figure. She managed the company’s growth during the ensuing ten years, and in 2006, as a result of the early 2000s iron ore boom, she officially became a billionaire.
Rinehart started extending her holdings outside of the mining sector in the 2010s. She ventured into agribusiness, buying many cattle stations and selling them within a decade. She also made large investments in Fairfax Media and Ten Network Holdings (although she sold her interest in the latter in 2015).
The wealthiest individual in Australia is Rinehart. When her wealth surpassed A$29 billion in 2012, she surpassed Christy Walton as the richest woman in the world and was listed on Forbes’ list of the 100 most powerful women in the world.
Due to a recession in the Australian mining industry over the ensuing few years, Rinehart’s net worth drastically decreased. Her net worth was assessed by Forbes to be $14.8 billion in 2019, according to the list of Australia’s 50 richest people.