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

  1. ↑ 1.0 1.1 Voyager Estate: The Estate
  2. ↑ 2.0 2.1 2.2 2.3 WA iron ore heir Michael Wright dies , Australian Broadcasting Corporation, April 27, 2012
  3. ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 3.7 Amy Wilson-Chapman, Iron ore heir and Rinehart foe Michael Wright passes away, The Sunday Times, April 28, 2012
  4. ↑ 4.0 4.1 4.2 Billion-dollar war, The Australian, March 09, 2007
  5. ↑ 5.0 5.1 5.2 5.3 Forbes
  6. ↑ 6.0 6.1 6.2 6.3 Alana Buckley-Carr, Iron ore heir Michael Wright dies, The West Australian, April 27, 2012
  7. ↑ 7.0 7.1 Rebecca Le May, Gina Rinehart loses Rhodes Ridge appeal, The Sunday Times, October 30, 2012
  8. ↑ 8.0 8.1 Andrew Burrell, Gina Rinehart's Rhodes Ridge appeal fails, court finds for Wrights , The Australian, October 30, 2012
  9. ↑ 9.0 9.1 Rania Spooner, Rinehart loses Rhodes Ridge battle, Sydney Morning Herald, October 30, 2012
  10. ↑ Margaret River