Michael Wright (1937–2012) was an Australian heir and businessman.
Biography
Early life
His late grandfather, Canon McClemans, founded Christ Church Grammar School. His late father, Peter Wright, co-founded Hancock Prospecting and Wright Prospecting with the late Lang Hancock, who was Gina Rinehart's father. His sister is Angela Bennett. He was born in Western Australia and attended Christ Church Grammar School.
Career
He started his career in the family concern, at Wright Prospecting. In 1991, he bought the Voyager Estate winery in Margaret River, Western Australia, despite being a teetotaller. He sat on the Board of Governors at the University of Notre Dame Australia in Fremantle.
Wealth
After his father's death, he inherited $900 million fortune with his sister. In 2010, he and his sister received AUS$1 billion from Gina Rinehart after she was legally forced to give up twenty-five per cent in the Rhodes Ridges iron ore mine 60 km west of Newman in the Pilbara. They owned fifteen per cent of Hamersley Iron shares from the Rio Tinto Group, Gina Rinehart owning the other fifty per cent. With his sister, he was worth US$2.3 billion or AUS$2.7 billion.
References
- ^ Voyager Estate: The Estate
- ^ WA iron ore heir Michael Wright dies , Australian Broadcasting Corporation, April 27, 2012
- ^ Amy Wilson-Chapman, Iron ore heir and Rinehart foe Michael Wright passes away, The Sunday Times, April 28, 2012
- ^ Billion-dollar war, The Australian, March 09, 2007
- ^ Forbes
- ^ Alana Buckley-Carr, Iron ore heir Michael Wright dies, The West Australian, April 27, 2012
- ^ Rebecca Le May, Gina Rinehart loses Rhodes Ridge appeal, The Sunday Times, October 30, 2012
- ^ Andrew Burrell, Gina Rinehart's Rhodes Ridge appeal fails, court finds for Wrights , The Australian, October 30, 2012
- ^ Rania Spooner, Rinehart loses Rhodes Ridge battle, Sydney Morning Herald, October 30, 2012
- Margaret River