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John Hancock (Australian businessman)

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John Hancock
Born
John Langley Hayward

(1976-01-02) 2 January 1976 (age 48)
CitizenshipAustralian
EducationPhillips Academy
OccupationBusinessman
Children3
Parents
RelativesLang Hancock (grandfather)

John Hancock (born 2 January 1976 as John Langley Hayward) is an Australian businessman. He is the son of Gina Rinehart and grandson of the late mining magnate Lang Hancock.[1][2]

Early life

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The son of English-born Greg Milton[3] and Australian Gina Rinehart, John Hancock was born John Langley Hayward.[4] His younger sister is Bianca Rinehart[5] and his two half-sisters are Ginia Rinehart and Hope Welker.

Milton subsequently changed his name to Greg Hayward.[4] John then changed his surname to Hancock,[6] a tribute to his grandfather after a dispute with his mother. Hancock was educated at the Phillips Academy in Andover, Massachusetts in the United States.[7]

Hope Margaret Hancock Trust

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In 2010, Hancock and his sister, Bianca Rinehart, and half-sister, Hope Welker, launched action in the Supreme Court of New South Wales against their mother in relation to the operation of a family trust fund established by their late grandfather.[6] Hancock was quoted as responding to a question about living off the family trust fund:[8]

"Well it'd be nice if I was, but I have all the bad things about having money and none of the good things."

Despite his difference with his mother, he still loves her very much[9] and has indicated they agree 90 percent of the time.[6] It is the ten percent which causes the difficulties.[6]

The NSW Supreme Court handed down its decision by appointing Bianca Rinehart as trustee of the Hope Margaret Hancock Trust.[10] Their mother already agreed to step aside as trustee and wanted consultation on who should replace her.[10]

Net worth

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Hancock appeared on the Financial Review Rich List for the first time in 2020 with a net worth assessed at A$2.05 billion.[11] Hancock appeared on the Forbes list of Australia's 50 richest people for the first time in 2017, with a net worth of US$5.00 billion, held jointly with his sister, Bianca Rinehart, and half-sisters, Ginia Rinehart and Hope Welker.[12]

Year Financial Review
Rich List
Forbes
Australia's 50 Richest
Rank Net worth (A$) Rank Net worth (US$)
2017[12][note 1] not listed 5 Increase $5.00 billion Increase
2018 not listed
2019[13][note 1] not listed 11 Decrease $3.10 billion Decrease
2020[11] 40 Increase $2.05 billion Increase
2021[14] 44 Decrease $2.40 billion Increase
2022 45 Decrease $2.43 billion Increase
2023[15] 47 Decrease $2.44 billion Increase
Legend
Icon Description
Steady Has not changed from the previous year
Increase Has increased from the previous year
Decrease Has decreased from the previous year

Notes

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  • ^[Note 1] : Forbes listed jointly with his sister, Bianca Rinehart, and half-sisters, Ginia Rinehart and Hope Welker.

References

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  1. ^ Garvey, Paul (20 May 2014). "Gina Rinehart misses wedding of son John Hancock". The Australian. Retrieved 29 May 2015.
  2. ^ "House Of Hancock" (transcript). Australian Story. Australia: ABC TV. 2012. Retrieved 29 May 2015.
  3. ^ "'I'm doing it for Lang': John Hancock". The Sydney Morning Herald. 13 September 2013. Retrieved 29 May 2015.
  4. ^ a b "Master John Langley Hayward Australia's richest baby". The Australian Women's Weekly. 11 February 1976. p. 13. Retrieved 14 January 2011 – via Trove, National Library of Australia.
  5. ^ "In 1976, Australia's richest family looked to be a happy unit. It's a different story 40 years later". ABC News. 18 August 2023. Retrieved 25 August 2023.
  6. ^ a b c d "John Hancock's 'conundrum' with mum Gina Rinehart". The Australian Financial Review. 3 December 2014. Retrieved 29 May 2015.
  7. ^ "The mother of all feuds". The Sydney Morning Herald. 13 September 2013. Retrieved 29 May 2015.
  8. ^ "Gina Rinehart - The Power of One". Four Corners. ABC TV. 20 June 2012. Retrieved 29 May 2015.
  9. ^ "Gina Rinehart's son, John Hancock disputes TV portrayal. Says he still loves his mother". Perth Now. Archived from the original on 12 February 2015. Retrieved 29 May 2015.
  10. ^ a b "Rinehart's eldest daughter handed control of family's $4b trust". ABC News. Australia. 28 May 2015. Retrieved 29 May 2015.
  11. ^ a b Bailey, Michael; Sprague, Julie-anne (30 October 2020). "The full list: Australia's wealthiest 200 revealed". The Australian Financial Review. Nine Publishing. Retrieved 31 October 2020.
  12. ^ a b "Australia's Richest 2017: Country's Wealthiest Continue Mining For Dollars". Forbes Asia. 1 November 2017. Retrieved 28 September 2019.
  13. ^ "2019 Australia's 50 Richest". Forbes Asia. January 2019. Retrieved 28 September 2019.
  14. ^ Bailey, Michael; Sprague, Julie-anne (27 May 2021). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 28 May 2021.
  15. ^ Bailey, Michael; Sprague, Julie-anne (26 May 2023). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 6 June 2023.