Michael Wright (Australian businessman)
Michael Wright (1937–2012) was an Australian heir and businessman.[1][2][3][4][5][6]
Biography
Early life
His late grandfather, Canon McClemans, founded Christ Church Grammar School.[2] His late father, Peter Wright, co-founded Hancock Prospecting and Wright Prospecting with the late Lang Hancock, who was Gina Rinehart's father.[2][3][7][8][9] His sister is Angela Bennett.[3][5][6] He was born in Western Australia and attended Christ Church Grammar School.[3]
Career
He started his career in the family concern, at Wright Prospecting.[3] In 1991, he bought the Voyager Estate winery in Margaret River, Western Australia, despite being a teetotaler.[1][2][3][6][10] He sat on the Board of Governors at the University of Notre Dame Australia in Fremantle.[3]
Wealth
After his father's death, he inherited $900 million fortune with his sister.[4] 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 60km west of Newman in the Pilbara.[3][4][7][8][9] They owned fifteen per cent of Hamersley Iron shares from the Rio Tinto Group, Gina Rinehart owning the other fifty per cent.[5] With his sister, he was worth US$2.3 billion or AUS$2.7 billion.[5][6]
References
- ^ a b Voyager Estate: The Estate
- ^ a b c d WA iron ore heir Michael Wright dies , Australian Broadcasting Corporation, April 27, 2012
- ^ a b c d e f g h Amy Wilson-Chapman, Iron ore heir and Rinehart foe Michael Wright passes away, The Sunday Times, April 28, 2012
- ^ a b c Billion-dollar war, The Australian, March 09, 2007
- ^ a b c d Forbes
- ^ a b c d Alana Buckley-Carr, Iron ore heir Michael Wright dies, The West Australian, April 27, 2012
- ^ a b Rebecca Le May, Gina Rinehart loses Rhodes Ridge appeal, The Sunday Times, October 30, 2012
- ^ a b Andrew Burrell, Gina Rinehart's Rhodes Ridge appeal fails, court finds for Wrights , The Australian, October 30, 2012
- ^ a b Rania Spooner, Rinehart loses Rhodes Ridge battle, Sydney Morning Herald, October 30, 2012
- ^ Margaret River