One of Australia's richest women is a mum of four - but not all is well in this family and unfortunately an almighty bust up is taking place which is splashed all over australian papers. Mum - Gina Rinehart thinks her kids arent up to taking over the management of a family trust set up by their grandfather John Hancock. This was due to vest in the children in September of last year but it seems that Mum has extended the vesting date to sometime in the distant future. It may be because of tax concerns or because she doesnt think the kids can handle the management of the trust or more likely a combination of both but the result is that the mum and the kids are on opposite sides of the court room fighting it out. Forbes has estimated that her wealth is somewhere in the region of 17.2 bn and this is largely the result of mining interests.
So the situation has developed that three of the kids have taken their mum to court and are fighting it out with the exception of the youngest daughter who has sided with her mum.-It makes interesting reading on a daily basis but where would you be on this one ?
Siding with mum because she thinks she knows best or supporting the kids being able to handle their own affairs?