Would you let money do this to your family? 446



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In news overnight, Gina Rinehart, Australia’s richest woman, has handed over the reigns of the family trust to her eldest daughter Bianca. But not before a painful legal battle that has divided the family and seen Mrs Rinehart accused of intimidation and deceit towards her children.

They say money doesn’t buy happiness and in this case, it seems money is in fact the cause of great distress.

The court’s decision to place Bianca in the position of Trustee of the multi-billion dollar trust comes at the end of a long and bitter court action, with Mrs Rinehart and her youngest daughter Ginia in one camp, and Bianca and older brother John in the other.

Another daughter, Hope Welker was the one to initiate legal action against her mother but she settled for $45 million because of the “high degree of distress” the case caused her.

Over three years, Mrs Rinehart, who is worth $15.6 billion and was ranked 37 in the Forbes Most Powerful Women list, has fought her children tooth and nail for control over the trust. At one stage, it is alleged the mining magnate had a leading financial services firm present her children with advice they would go bankrupt over fees, should the trust be passed over.

Justice Brereton, who presided over the case, said in his findings that Mrs Rinehart had “gone to extraordinary lengths” to maintain control directly or indirectly of the trust, and that she had exerted “enormous pressure and great influence to do so”.

He went on to advise that she would likely continue to exert pressure on the Trustee, now her daughter Bianca, which indicates the battle is far from over.

We’re not going to pretend to understand what it’s like to have billion of dollars in our possession but we do know what it’s like to have the love and support of our family.


Today we’re wondering: has Gina Rinehart lost more that money today? Would you risk your family’s love for the sake of wealth?



Starts at 60 Writers

The Starts at 60 writers team seek out interesting topics and write them especially for you.

  1. As the old saying goes ” money is the root of all evil”

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  2. Only one side of the story lets wait and see

    5 REPLY
    • do you understand what a judge is? This has already been ruled on in court..no doubt a spiteful Gina will try to drag it out

    • No. Both sides of the story have been told and a judge has made a decision based on not onky the two personal sides, but also using information gained from experts like accountants, auditors, business professionals and other family members and witnesses.

    • The other side is that Gina wanted an independent trustee to manage the fund and some of the children would not agree to any trustee other than themselves. The argument has gone for many years, now a judge has ruled that Gina could apply too much pressure on an independent, so one of the children was the only option, but with an incredible amount of checks and balances applied. They can now only deal fairly, with legal approval and with concordance from all family members.

    • Thats good Trevor Salmon. I really don’t think it was so much about Gina being greedy and wanting to keep the money as making sure it wasn’t wasted. I dont think kids should feel entitled just because their parents have money, after all they didnt earn it!

  3. Perhaps she thought they were not ready for that kind of money. Only time will tell if they blow it all or invest wisely.

    3 REPLY
    • At the end of the day if they blow their share then more fool them. You cannot control everyone all their lives. I don’t think she has empowered them & taught them how to look after that obscene amount of money.

  4. Yes Natalie it is an old saying but how true. How many families r broken up because of money. It does not have to be billions …it is called greed. I know because it happened to me. People show their true colours when it comes to money.

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    • You are so right Lyn. The disbursement of my husbands deceased mothers estate tore that family apart.

    • So agree.
      My sisters tried to take from our mother.
      I got her to speak to a solicitor and now her accounts can’t be accessed and they can’t do anything. Neither of them speak to me and one of them (the main instigator) doesn’t speak to mum.
      I just can’t understand how people believe that what their parents have is for the kids benefit.

    • Robyn Smith
      Unfortunately a will is no guarantee.
      Firstly because it only comes into effect AFTER your death. And secondly a jydge can change the terms of your will.
      What you need us good and trusted family and friends and a Piwer of Attorney that they can invoke if they see other untrustworty peopke are trying to take advantage of you.

    • Greed by my half brother and sister over our mothers will but karma always has a way of dealing with things.

    • Too true Lynn. Greed, Greed and Greed. You can sheet this right back to Lang Hancock and more than likely the Trusts were to minimise tax. You can be sure there is one aboriginal tribe who should be living in the lap of luxury too being his direct desendants but we won’t see that either.

    • Robyn, even an iron clad will won’t save you, if your family thinks your LAST will is unfair, they can challenge it ina court & quite often they succeed. so what does that say about your LAST will?

    • It happened to me two trusts and two wills yet my greedy brother took the lot and shared only with his family. All because he talked the parents into giving him the power of trustee. My family missed out even though fought as best I could and cost me all of my super to do so. And it still did not get to the courts. My children and I have missed out totally. This woman is a greedy money grubbing cow. Good luck to her and her children’s

    • Thank u all…there r a lot of us out there who have suffered because of another persons greed. Good luck to u all. .

  5. If they blow it, she can say I told you so, but if they don’t, she has lost all the love and respect they had for her. Not worth it.

  6. Coco channel said, “when you reach 50, you have the face you deserve”.

    4 REPLY
    • Oh harsh ha ha but I wish she would find a good hairdresser and go to a gymnasium hec she could buy the whole gym!!

    • I agree with all that money she could certainly do a better job of looking after herself!! I think it’s a wall she is putting up so no man finds her attractive!! Hence the possibility of having to share her wealth!!! Very sad!!! She could never spend all that money in this lifetime!!

  7. At the end of the day, when the light dims and its Ginas turn to die, all that money won’t mean a thing, the love of her children around her will. At the rate she is going she will be alone.

  8. I don’t think she’s been a great mum can’t imagine doing that to your kids if that’s what there grandfather wanted they should have had it not do what Gina did

    2 REPLY

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