John Hancock is an Australian businessman and the son of Gina Rinehart, Australia’s richest woman. In addition, his grandfather was magnate Lang Hancock, active in the mining sector. With that, John and his sisters have a relevant stake in a fund with great exposure to the mining company Hancock Prospecting.
John Hancock is also an administrator of his own investment fund, showing this proximity to the world of business and entrepreneurship. Likewise, he is a consultant for Lind Partners LLC, making himself well known in the industry.
Because of all these businesses that John Hancock participates in, especially because of the Hope Margaret Hancock Trust fund, he ended up building a billionaire personal wealth, joining the select group of the 10 figures in wealth. Until May 2021, the fund in question had a stake of around 23.45% in Hancock Prospecting, which is the main source of John’s wealth.
John Hancock Profile
|Full Name:||John Langley Hayward|
|Education:||Phillips Academy and the University of Notre Dame|
|Net Worth:||$1.6 billion|
|Known as:||John Hancock|
|Marital status:||Married (Gina Rinehart)|
John Hancock’s Life Trajectory
John Langley Hayward was born in 1976 in Australia. His parents are Gina Rinehart and Greg Milton, who later changed his name to Greg Hayward.
He is the eldest child, among three other sisters he has: Bianca, Hope and Ginia. Also, in order to pay homage to his grandfather, John became John Hancock, adding that last name and dropping the “Rinehart” when he was 27 years old.
In his studies, John was part of the renowned school Phillips Academy, which is located in Andover, Massachusetts, in the United States. Likewise, he holds a master’s degree in business administration, a specialization he completed at the “University of Notre Dame ”.
Relationship with Gina Rinehart
In 2011, a legal dispute began that marked the history of the family. With that, Hope Welker and Bianca Rinehart, along with John Hancock, began a legal battle with their mother Gina Rinehart, on account of operations made in a fund. This ended up generating many disagreements among those involved.
He and his sisters intended to remove the position of trustee of the family trust fund that belonged to their grandfather, who ended up passing away.
With that, they filed a lawsuit in the Supreme Court of New South Wales and ended up getting, by court decision, that Gina Rinehart lost her position as trustee so that Bianca Rinehart entered in her place.
The Hope Margaret Hancock Trust was established in the year 1988 by Lang Hancock, grandfather of John Hancock and husband of Hope Hancock. In that sense, Gina had been assigned to manage the assets of John and his three sisters, even before this court case began.
Lang Hancock was an iron ore explorer. Even though Lang created Hangop Prospecting, it was his daughter Gina who helped keep his company from going bankrupt. Thus, she ended up helping John Hancock’s grandfather to change the reality of the company, which became one of the largest in the segment in which it operates.
Recognition of John Hancock
Despite all this legal process and the disagreements that arose in the family that were printed in the headlines for years, John Hancock managed to maintain a relatively friendly relationship with his mother. The case ended in 2015 and never had the support of Ginia, John’s younger sister.
John Hancock was on the Financial Review Rich List for the first time in 2020. In addition, in 2017 he entered the Forbes list of the 50 richest people in Australia for the first time, due to the fortune he ended up building with his sisters. Currently married to Gemma, John has 3 children: Georgia, Jasmine and Zara.
Along with his family, he owns residence in Whistler, Canada. According to Forbes magazine, his current net worth is $1.6 billion.
Altogether, the Rinehart family is worth $40 billion, making it the richest family in Australia. Thus, the family’s main source of wealth comes precisely from the mining giant Hancock Prospecting Group, a group that also includes Roy Hill and Atlas Iron.
What did you think of John Hancock‘s life trajectory? Leave in the comments the part that caught your attention the most.