Battle Over Rinehart Family Fortune Shifts In Daughter’s Favor

Gina Rinehart is the wealthiest person, and perhaps most controversial, in Australia based on the mining fortune that was built by her late father. However, she recently lost control over a family trust to her daughter following a long legal battle sparked by a change in the vesting date of a trust. The New South Wales Supreme Court appointed her daughter Bianca the new trustee declaring her to be the best suited member of the family to run the trust at this time. This row has divided the family with all four children of the family being involved in this case as well as several other suits that were later withdrawn.

See Australia’s Gina Rinehart loses control of family trust to daughter, BBC News Australia, May 28, 2015.