MARKETS

Rinehart makes Time 100

AUSTRALIA'S richest person Gina Rinehart has been named as one of Time magazine's 100 most influe...

Kristie Batten
Rinehart makes Time 100

The 100 was split into five groups – artists, leaders, icons, pioneers and titans, the latter which included Rinehart.

“The spectre of Rinehart looms above the Australian landscape: an improbably wealthy, concrete-minded, broad-shouldered woman who spent more than a decade in legal and personal battles with her stepmother and four children and insists nothing will come before the company she calls the House of Hancock,”Time said.

The article referenced comments from Rinehart recommending a cut of the minimum wage and a suggestion that those jealous of people with money should “spend less time drinking or smoking and socialising and more time working”

“As her empire expands, the image-conscious Rinehart has begun to covet media control: she now owns a 10% stake in a TV station and about 15% of a newspaper company — but refused to sign an editorial charter of independence so has not been granted a board seat,” the article said, referring to Rinehart’s stakes in Ten Network Holdings and Fairfax Media.

Forbes named Rinehart the world’s 36th richest person with a net worth of $US17 billion ($A16.5 billion) as of last month.

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