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Gina Rinehart
Image Credit: Philip Gostelow Bloomberg via Getty Images

How Gina Rinehart Is About To Become Even Richer Thanks To The Federal Budget

On Tuesday night, Treasurer Jim Chalmers handed down this year’s Federal Budget, with none other than… Gina Rinehart walking away as one of the biggest winners.

Yep, you read that right. Rinehart, Australia’s richest billionaire, will benefit from the government’s announcement of the $22.7 billion Future Made in Australia centrepiece policy.

Listen to The Briefing where Sacha Barbour Gatt and Katrina Blowers unpacked the top five things that matter the most from this year’s Federal Budget:

The Future Made in Australia fund will contribute spending towards a clean technology future for the country.

$13.7 billion will go towards production tax incentives for green hydrogen projects and to increase the processing and refining of 31 critical minerals.

Many of these minerals are used in the creation of batteries, solar panels, and electric vehicles among others.

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Under the policy, Rinehart will receive over $1 billion to two of the companies she owns.

On Wednesday morning’s episode of The Briefing, hosts Sacha Barbour Gatt and Katrina Blowers broke down how Rinehart will end up with another couple billion dollars in her pocket.

“We don’t know the details of it yet [but] I crunched the numbers on my trusty calculator. Gina Rinehart is going to receive over $1 billion to two of the companies that she owns,” Blowers said.

“Now, this is all for rare earth mining and lithium development. It doesn’t go straight into her pocket.

“But as you mentioned, Australia’s richest woman is about to get some incentives, some taxpayer dollars, to potentially make her even richer.”

Subscribe to The Briefing, Australia’s fastest-growing news podcast on LiSTNR today. The Briefing serves up the latest news and deep dives on topics affecting you, all in under 20 minutes.