Elsewhere online
July 30, 2015

Feud Over Mining Mogul's Fortune Could Yield Charity Bonanza

Australia's richest person could contribute half her estimated $10 billion fortune to charity as part of a deal under discussion to end a bitter legal fight with her children, News Corp Australia and the Daily Mail write, citing The Australian newspaper.

Mining magnate Gina Rinehart and her son, John Hancock, reportedly both support a major philanthropic component to settling a long-running family feud over succession and financial issues.

Mr. Hancock and his sister, Bianca Rinehart, won a court decision last month giving them control of a $2.9-billion family trust. He has called on his mother to follow the example of fellow Australian mining billionaire Andrew Forrest, who has pledged his fortune to charity. Gina Rinehart has also made "her desire to leave a significant portion of her estate for the benefit of Australian charitable causes" part of the negotiations, said a spokesman for her company, Hancock Prospecting.