A Supreme Court judge has ordered Australia’s richest woman, Gina Rinehart, to relinquish part of her vast fortune following a long-running legal dispute over her mining empire.
Rinehart, whose wealth is estimated at $27 billion, has been embroiled in a 13-year court battle involving two of her children and the heirs of her late father’s business associate, Peter Wright.
The plaintiffs argued that they are entitled to a substantial share of royalties and mining rights linked to the Hope Downs project, one of Australia’s most profitable iron ore operations.
They maintained that their grandfather had intended for the wealth generated from the mines to be shared with them, alleging that Rinehart deliberately excluded them from the benefits.
Delivering judgment, Justice Jennifer Smith ruled that half of the royalties accrued to Hancock Prospecting should go to the Wright family.
“Wright Prospecting won half of its case, lost half of its case, and Hancock Prospecting has also won and lost half of its case,” the judge stated.
