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Grizzly Bulls’ Billionaires Index

⬅ # 55 Robin Zeng|# 57 Vagit Alekperov ➡

# 56 Gina Rinehart 

$29.3B

Real Time Net Worth
as of 5/13/2024
$45 (0.00%)

# 56 Gina Rinehart 

$29.3B

Real Time Net Worth
as of 5/13/2024
$45 (0.00%)
OccupationExecutive Chair, Hancock Prospecting
Source of WealthMining
Age70
ResidencePerth, Australia
Marital StatusWidowed
Children4
Age-Adjusted Net Worth$14.9B
Gina Rinehart
Gina Rinehart
Australia
Net worth: $29.3B

Self-Made Score 

Wealth History

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Biography

Overview

Georgina Hope Rinehart AO (née Hancock, born 9 February 1954) is an Australian billionaire mining magnate and heir.
Rinehart is the Executive Chairwoman of Hancock Prospecting, a privately owned mineral exploration and extraction company founded by her father, Lang Hancock.
She was born in Perth, Western Australia, and spent her early years in the Pilbara region, later boarding at St Hilda's Anglican School for Girls.
After briefly studying economics at the University of Sydney, she dropped out to work with her father at Hancock Prospecting.
Rinehart became Executive Chairwoman of Hancock Prospecting in 1992, succeeding her father.
When she took over, the company faced severe financial difficulties, with an estimated total wealth of A$75 million.
Under her leadership, the company expanded over the next decade, becoming one of the largest mining houses in the world.
She played a key role in the iron ore boom of the early 2000s, turning the company into a nominal billionaire in 2006.
Rinehart diversified her holdings in the 2010s, making significant investments in Ten Network Holdings, Fairfax Media, and expanding into agriculture.
She held the title of Australia's wealthiest person from 2011 to 2015 and reclaimed it in 2020, according to various financial publications.

Family and Personal Life

Rinehart is the only child of Hope Margaret Nicholas and Lang Hancock.
She had two marriages; first to Greg Milton (1979 divorce in 1981), and later to corporate lawyer Frank Rinehart (married in 1983, widowed in 1990).
Rinehart and her step-mother, Rose Porteous, were involved in a 14-year legal fight over Hancock's death and bankrupt estate, ultimately settled in favor of HPPL.
Her son John changed his surname to Hancock in 2003, and she has had a challenging relationship with him since 2014.
Her daughter Bianca Hope served as a director of Hancock Prospecting until 2011, replaced by her half-sister, Ginia Rinehart.
Rinehart's other daughter, Hope, married and divorced while living in New York.

Business Ventures and Achievements

After Lang Hancock's death in 1992, Rinehart became Executive Chairman of Hancock Prospecting Pty Limited (HPPL) and the HPPL Group of companies.
She secured the Roy Hill tenements in 1993, focusing on developing Roy Hill and other undeveloped deposits.
Hancock Prospecting owns 50% of Hope Downs and shares profits of the Hope Downs mine, operated by Rio Tinto.
Rinehart expanded her interests to include joint ventures with Mineral Resources, the Alpha Coal and Kevin's Corner coal projects, and significant stakes in Ten Network Holdings and Fairfax Media.
Rinehart continued expanding her agriculture portfolio, acquiring Fossil Downs Station in 2015 and stakes in Liveringa and Nerrima Stations in 2014.
She played a crucial role in opening the Roy Hill mine in 2015, securing A$7.9 billion in funding and sending initial shipments to China.
In 2016, Hancock Prospecting invested in UK-based mining company Sirius Minerals to support their North Yorkshire Polyhalite Project.

Recent Investments and Activities

In December 2023, Hancock Prospecting and Chilean mineral company SQM made a joint $1.1 billion bid to acquire lithium outfit Azure Minerals in western Australia.
Rinehart has made significant investments into rare earth minerals and the gas sector.
She is Australia's second-largest cattle producer, owning a portfolio of properties across the country.

How long would it take you to become as rich as Gina Rinehart?

If you started with $10,000 and invested an additional $500 each month at a 44.01% CAGR, it would take you 5 years to reach Gina Rinehart's net worth of $29.3B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 40.45% compared to 10.08% for the S&P 500 benchmark.

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Gina Rinehart is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Gina Rinehart, Mining is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey