Gina Rinehart Wealth Swells as Family Split Lingers
- Hancock Prospecting books big rises in revenue, profit
- Latest financials add more than $2 billion to her wealth
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Australian mining magnate Gina Rinehart’s fortune swelled $2.1 billion after her closely held company reported improved financial results on the back of higher iron ore sales.
Hancock Prospecting Pty’s revenue rose 39% for the year to June 30. Earnings also improved at the Perth-based group with a 90% increase in net profit to A$2.6 billion ($1.8 billion). The results lifted Rinehart’s wealth to $17.9 billion on the Bloomberg Billionaires Index, a $3.7 billion increase since the beginning of the year.