Gina Rinehart: The Financial Powerhouse Behind Australia’s Olympic Success With $10 Million in Donations Annually

Gina Rinehart, a constant presence at the Olympics, has been seen on the pool deck and near the rowing course, with numerous athletes acknowledging her after their successes. Her immense wealth, estimated at over $35 billion, making her Australia’s richest person.

Rinehart serves as the patron of Rowing Australia and annually donates approximately $10 million to rowing, swimming, and beach volleyball through her mining company, Hancock Prospecting, and her foundation. This substantial investment explains her frequent appearances in the stands at these sports events in Paris.

Since 2012, her contributions to the Australian Olympic team have reportedly totaled $80 million. While this figure may seem modest compared to the vast sums involved in major sports like AFL, NRL, and cricket, it is crucial for Olympic sports that rarely receive attention outside the Games. Her funding can be the deciding factor for athletes, enabling them to focus solely on their training without needing to juggle full-time jobs.

Four-time Olympian Cate Campbell remarked to the Australian Financial Review in 2021 that Rinehart had essentially saved Australian swimming by stepping in with financial support after sponsors withdrew following a disappointing performance at the 2012 London Olympics. Campbell credited Rinehart with providing direct funding to athletes, allowing them to see a viable future in swimming.

In the past year, Rinehart announced a $3 million, two-year fund for athletes who medaled in certain sports at Paris, offering up to $20,000 for a gold medal and an additional $30,000 for setting a world record. Unfortunately, the pool in Paris has not been conducive to record-breaking swims.

Rinehart also organized an extravagant afterparty on a luxury boat down the Seine for Australia’s swimmers and rowers. Athletes have been effusive in their praise for Rinehart. Rowers Jess Morrison and Annabelle McIntyre, who won bronze in the women’s pairs, emphasized the importance of her support in allowing them to pursue their sport professionally. They appreciated her personal involvement, noting that she doesn’t merely watch from afar but actively engages with them.

Tara Rigney, who narrowly missed a medal, expressed hope of making Rinehart proud in the future, while members of both the men’s and women’s eights also acknowledged her support after not medaling.

Elijah Winnington’s father, Jeff, a Swimming Queensland director, highlighted Rinehart’s contribution after his son’s silver and bronze medals, stating that Australia’s success on the medal table would not have been possible without her support. Swimmers have consistently expressed their gratitude to Rinehart following successful world championships, trials, and leading up to Paris 2024.**

Rinehart’s financial backing and personal involvement have clearly had a significant impact on the success and morale of Australian athletes at the Olympics.

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