Gina Rinehart gives millions to employees
Article courtesy of Australian Mining.
Australian mining billionaire Gina Rinehart is giving away millions to lucky Hancock Prospecting employees.
In recognition of her 41 years at Hancock, as well as her 69th birthday this week, Australia’s richest person is giving away $100,000 to 41 employees in an act of charity that will cost her $4.1 million.
The major giveaway will be decided by raffle.
Rinehart, who has an estimated new worth of $34 billion, became the executive chairman of the mining and agricultural company in 1992.
The mining magnate has a history of being charitable to her employees. In another raffle in December, Rinehart gave 10 lucky Roy Hill employees a $100,000 Christmas bonus.
Roy Hill is Hancock’s largest revenue and profit earner.
Hancock Prospecting has seen recent success in its takeover battle for Perth Basin-based Warrego Energy, after Mineral Resources made the decision to shell its shares in Warrego to Hancock.
Rinehart seems to have a philosophy of mutual growth.
In 2018, Rinehart conceived a charitable benefit initiative for Roy Hill mine. The scheme made employees eligible for an annual payment based on overall business performance in the previous financial year.
Rinehart said the scheme would recognise the outstanding contributions of Roy Hill employees in achieving operational targets.
“My ongoing vision for sharing profits remains that if Roy Hill has a good year, then we all have a good year – with an annual payment to all employees in mid-December, just before Christmas,” Rinehart said at the time.
“The first annual payment will occur in December to reward the outstanding effort, hard work and commitment put in by Roy Hill employees to achieve production and business performance targets that I was told would be ‘impossible’ to achieve.”
With such a history of charity, we’re left to wonder what Rinehart will give away next.