Gina Rinehart: is there a family office?

Gina Rinehart is one of Australia’s richest people with a net worth of over US$ 30.8 billion. This also makes her one of the richest women in the world. Rinehart’s wealth is derived from growing mining company Hancock Prospecting. She took over the company in 1992 when she became executive chairman. Late last year, the miner made a joint $1.1 billion bid with Chilean minerals company SQM to acquire lithium company Azure Minerals in Western Australia to further expand thier business. In 2022 Rinehart recived the Officer of the Order of Australia for her contribution to the mining industrie and her philanthropic activities. In this article, we investigate if an Australian Rinehart family office exists.

No dedicated Rinehart family office, but different investments

Although Rinehart is an active investor in a number of areas, there is no dedicated Rinehart family office to the extent of our research team’s knowledge. Rinehart’s wealth is mainly concentrated in Hancock Prospecting, where she has also launched ventures and investments in other areas. Hancock was founded by Lang Hancock in 1955. In 2018, the company reported revenues of more than A$6 billion. Rinehart has also invested in Ten Network Holdings and Fairfax Media. Recent investments through Hancock Prospecting include a $400 million investment in London-based Sirius Materials in 2016. The deal also includes plans for a mine in Yorkshire. It has also increased its investment in gas companies in 2022. For example, Rinehart-funded Senex announced plans to invest A$1 billion in gas projects in Queensland.

Picture source: Dion Beetson