GINA'S MINE HEART
In an exclusive interview to mark her 70th birthday, Gina Rinehart shares with our Editor Mitch Catlin that she has no plans to slow down or retire from her extraordinary business career – quite the contrary. On the back of her purchase of iconic brands Drizabone and Rossi boots, the nation’s richest woman has marked her milestone birthday with gifts for her staff and one hell of a planned shopping spree, adding more Aussie brands to her already-large basket.
Despite having been in the public eye for most of her working life as a result of her large number of Aussie businesses, Gina Rinehart remains unquestionably an enigma to most of us, rarely conducting media interviews.
“I have a problem in Australia, where too often I’m misrepresented, even misquoted by media,” Mrs Rinehart says, of the constant media interest in her. “I don’t think I’m the only one who has such a problem though.”
Focussing on her loyal staff rather than herself on her 70th birthday, Mrs Rinehart handed out $7 million to a lucky 70 people from among the 4000 plus staff across all of her businesses. The gifts were raffled in [after tax] $100,000 lots, 40 in December as part of her mother’s birthday celebrations and the other 30 handed out to mark her actual birthday last week.
Giving away cash and prizes to sta isn’t just limited to milestone birthdays – she does something every year through her Chairman’s Profit Share which is given away each year on the 7th December, her mother’s birthday, and can be up to 30% of a sta members base salary.
This year, every staff member also received a $175 voucher to spend at Drizabone or Rossi Boots – two iconic Aussie businesses and the latest additions to what is fast becoming Gina Rinehart Fashion Inc.
Drizabone, which started in Australia in 1898, was purchased in very early December. Just a few weeks later, 114 -year old company Rossi Boots was added to the apparel portfolio. With the rumoured plans for full production to return to Australia, the first new products will be out in August using only Australian leather from one of Mrs Rinehart’s agricultural businesses to keep operations fully integrated in-house.
The decision to acquire Drizabone and Rossi was driven by a deep regard for the outback, agriculture and iconic Australian brands
… the most successful private company in Australia’s history, and one of the leading private mining companies in the world… respected internationally
The fashion front row are ready for a battle of the billionaire boot owners, with fellow mining magnate Andrew “Twiggy” Forrest taking control of R.M.Williams.
She is strong on the Government setting an environment that encourages local manufacturing.
“I’m not one for governments choosing companies to support financially with taxpayers’ money, they rarely choose well, I prefer a more fair basis, one that enables companies to thrive if they work hard and remain cost competitive. To see Australian living standards rise, and Australians then able to a ord their own homes and provide for their families, we need healthy thriving businesses without subsidies and to value investment,” she says.
Former Northern Territory Chief Minister Adam Giles has been appointed to find Aussie businesses that could join the family.
“We are on the lookout for opportunities to elevate Australian brands, especially those that align with our heritage and important Aussie values,” Mrs Rinehart says. “Such heritage and Aussie values have been a hallmark, indeed the foundation, of our nation since the pioneering days, and helped to build our country.
“We would like to help showcase internationally, the best of what Aussies can offer.”
Mining and agriculture have, and will always be, the foundation of her business.
The mining interests are of course partly linked to her late father Lang Hancock, albeit Roy Hill will be her own lasting legacy and now provides the greatest revenue across the companies. Agriculture comes from her Hancock lineage who opened up the Northwest with WA’s first stations as well as Mrs Rinehart’s maternal grandfather. He eventually owned all of the iconic Cobb and Co. coach company in Western Australia which helped take people, water, gold, money, equipment, mail and supplies, and opened up regional areas to the major cities.
Asked to describe the highlight of her own career at the helm of her business, she is clear.
“Saving our family company and making it not only the most successful private company in Australia’s history, and one of the leading private mining companies in the world, but also a company that is respected internationally. I love to hear our staff say that our company is the best they’ve ever worked for, and the best company in Australia,” Mrs Rinehart says.
The Roy Hill Iron Ore Mine in WA’s Pilbara region remains the jewel in the Rinehart business crown. The company fully owns atlas, and co-owns the Hope Downs Mines with Rio Tinto.
Roy Hill has its own port berth at Port Hedland to export iron ore directly to its partners in Japan, Korea, China, India and Vietnam and has plans to grow capacity to almost double its sales globally.
From multiple cattle and dairy farms across the country, their beef is sold to 25 countries, including Australia. Bannister Downs is the award-winning main consumer milk brand and Kidman Pies are already a household name in South Australia, Western Australia and Queensland and increasingly across Australia. Grain, Barley and cotton crops form part of the wider agricultural success story.
Most recently she bought Bunbury Farmers Market, north of the foodie haven of Margaret River, which showcases all of the region’s local food, beverages and agriculture.
… if you want to maintain the value of your hard-earned dollar … you need a return to common sense policies
… athletes represent our country, and their success on the global stage brings pride to Australians. They provide opportunities to be inspired by the best of the human spirit, hard work, perseverance and resilience, values that resonate deeply with me.
A significant portion of her business gains are poured into sport.
She is the biggest private donor to sport in the country, giving more than $60 million to swimming, synchronised swimming, volleyball and rowing up to the Tokyo Games. It will be more than $100 million by the time of Australia’s home Olympics in Brisbane in 2032.
“This support is not just financial; it’s also about providing personal support. These athletes represent our country, and their success on the global stage brings pride to Australians. They provide opportunities to be inspired by the best of the human spirit, hard work, perseverance and resilience, values that resonate deeply with me,” she says.
In addition, she funds student places at Bond University for swimmers who don’t have to pay for their tuition and can continue to train for the Olympics.
Some of these athletes are now fronting campaigns to promote her range of businesses including milk and beef.
She prefers not to discuss her private philanthropic endeavours, but her support of war veterans is also well known.
More than 250 retired service men and women are employed across her companies to enable them to try to adjust back to normal life after national service.
When she finally hangs up her boots – Rossi of course – she is very clear on how she would like to be remembered.
“I receive a book each year from our staff, around Chrissie time, and as my staff know, this is my favourite book,” she says. “In it they write about what they’ve been able to afford thanks to their job and the Chairman’s Profit Share, often including photos. I love to hear, they can save for their home, pay off their mortgage faster than they ever dreamed possible, do the home extensions or improvements they want, help their family members with sad health problems, bring overseas family members to visit in Australia, pay for private education, let their wives stay home if they chose to care for the family – which again many thought they would never be able to do – support their children in sport, buy safer cars, donate to charities and more. I’d love to be here long enough to see all our employees pay off their homes.”
To celebrate life as a septuagenarian, she will throw a party in Perth for staff who have worked for her for seven or more years.
So, does Mrs Rinehart’s celebration of her milestone include some downtime?
“I do like swimming time when I can, great to have that space to think,” she says.
And with such a vast and growing Aussie business empire, she still has plenty to think about.
