Angela Bennett

SPECIAL REPORT: Gina Rinehart’s Hancock Prospecting and its subsidiary, Roy Hill Holdings, have moved to the top of the Business News annual ranking of private companies in Western Australia, as their surging revenue put them ahead of building company BGC Australia.

The descendants of iron ore pioneer Peter Wright have received total dividends of $702 million over the past three years, according to recently lodged financial statements that also reveal the big legal expenses they have paid.

UPDATED: Gina Rinehart, Andrew Forrest, Kerry Stokes, Bianca Rinehart and Angela Bennett are the wealthiest people in Western Australia, according to a new rich list.

Perth-based Wright Prospecting has confirmed its status as one of the country’s most profitable companies, lifting its annual earnings on the back of higher iron ore prices and paying a whopping $172 million dividend to its owners.

Julian Wright has commenced legal action in the Supreme Court, claiming he was defrauded when he sold his share of the family company to his siblings, 'rich listers' Angela Bennett and the late Michael Wright.

A 2008 agreement between Julian Wright’s two children and family company Wright Prospecting precluded further claims, a Supreme Court trial has been told.

West Australian Ballet has received $7.5 million in donations for its endowment fund, and announced it would name a studio after major donors the Wright Burt Foundation.

The updated WA ‘rich list’ shows the state’s iron ore magnates are moving far ahead of people who made their money in other industries.

A claim by Julian Wright for one third of his family’s multi-billion dollar fortune has failed, in large part because of a $70 million deal struck 13 years ago.

Privately-owned Perth company Wright Prospecting has posted yet another extraordinarily large annual profit as it reaped the benefits of the booming iron ore market.

Soaring valuations for tech companies and mining stocks have brought major shifts in this year’s list of WA wealth creators.

Resources billionaire Gina Rinehart has been named Australia’s wealthiest person for a third consecutive year, followed closely by fellow Western Australian and iron ore magnate Andrew Forrest.

Cottesloe is home base for many in the investment world.

Rio Tinto and Wright Prospecting have paved the way for development of a major new, high-grade iron ore mine that will be pivotal to the future of both companies.

The low-profile Perth billionaires bought the asset from global aerospace and defence group L3Harris Technologies for $4.18 million.

Senior journalist Claire Tyrrell talks about why residential builders are cautiously optimistic they've turned a corner after two years of difficulty.

Financials lodged by Wright Prospecting have divulged another solid profit for the iron ore royalties outfit, as well as the receipt of a $75 million legal settlement.

Perth dealmaker Michael Ashforth is making a return to investment banking, seven years after he retired from Macquarie Capital to work for ‘rich lister’ Angela Bennett.

Business News values the assets of WA’s richest people, and explores how they’ve used that wealth in 2022.

Descendants of two WA mining pioneers are gearing up for a legal battle more than a decade in the making over iron ore royalties believed to be worth billions of dollars.

Lawyers for Wright Prospecting continue to unearth correspondence exchanged over 40 years, alleging Hancock Prospecting and Gina Rinehart had always known about royalties payment, during a Supreme Court trial.

Peter Wright's children allegedly knew about Hancock Prospecting's interest in disputed Pilbara tenements for more than 20 years before starting legal action, the Supreme Court of WA has heard.

Hancock Prospecting has thrown its founder Lang Hancock under the bus, claiming he breached his director's duty while married to Rose Porteous, during a Supreme Court trial.

Mining heiress Angela Bennett’s private company AMB Holdings is eyeing an expansion, proposing to build a $20 million office and apartment development in Swanbourne.

Angela Bennett’s private company AMB Holdings has cleared a planning hurdle for its $20 million office move to another western suburb.

Mining heirs Michael Wright and Angela Bennett knew they already gave up their interests in mining tenements likely worth in the billions of dollars since the 1980s, the court was told.

Entrepreneur Vikas Rambal’s $4.4 billion fortune leads a group of dozens of new names to be recognised for their wealth generation in the inaugural Business News Rich List.

The newly opened Ruah Community Services’ centre for women and children fleeing domestic violence will be named after one the state's most reclusive billionaires, Angela Bennett.

Perth company Wright Prospecting has reported another massive profit as its low-key owners reap the benefits of an iron ore royalties deal negotiated more than 50 years ago.

The falling iron ore price has had a big impact on WA’s wealthiest.

Japanese trading house Mitsui & Co will take a US$5.3 billion stake in Rio Tinto’s 6.8 billion tonne Rhodes Ridge iron ore project in the Pilbara.

Mitsui's new stake in Rio Tinto's Rhodes Ridge iron ore project has unlocked $10 billion in wealth for the heirs of Peter Wright, pushing Angela Bennett into fifth on our Rich List.