Gina Rinehart has decided to reward her loyal daughter by projecting her as her heir. The 25 year old Ginia Rinehart is the only one of her four children who is not suing her for control of her $10 billion empire.
Mrs Rinehart appointed Ginia as a director of the family's flagship Hancock Prospecting on December 5, replacing Terry Walsh. It was the biggest shake up that the Rhinehart family business has seen in many decades. Ginia has also replaced her sister Bianca on the board of HMHT Investments.
Bianca Rinehart, John Hancock and Hope Welker are the three siblings who took their mother to court in an attempt to remove her as head of a family trust that controls 25 per cent of the family's fortune. Before the case in the New South Wales Supreme Court, Bianca and John were seen as likely candidates to take over the company.
Gina Rinehart is the daughter of late mining magnate Lang Hancock who is famous for discovering the largest iron ore deposit in the world in 1952. She inherited the debt laden Hancock Prospecting from her father and turned it round into one of the most profitable companies in Australia. Today she is credited to be the richest person in Australia.