Thursday, August 30, 2012

Magpie on The Witch of Oz

Today Australia's richest person, Gina Rinehart, became the centre of national attention after selections of one of her regular columns from Australian Resources and Investment magazine were published by the Murdoch press. (See here)
These are some of the statements attributed to Rinehart:

  • "There is no monopoly on becoming a millionaire." (...)
  • "If you're jealous of those with more money, don't just sit there and complain. Do something to make more money yourself - spend less time drinking or smoking and socialising, and more time working." (...)
  • "Become one of those people who work hard, invest and build, and at the same time create employment and opportunities for others."
Rinehart, who has appeared every year in the BRW Rich 200 since 1992, when her father died, owns a personal fortune variously estimated between USD29 and 18 billion. In 2012, her wealth doubled its previous year's estimates, due to then rising international prices of coal and iron ore.
It's unknown how Rinehart's hard work contributed to those price increases, how many metric tonnes did she personally dig from her mines, or the relationship between commodity prices and "drinking, smoking or socialising", but her advise to would-be self-made people is clear cut: work hard, invest and build.

To help us become wealthier, Rinehart proposes to cut our minimum wages (currently at the astronomical level of AUD606.40 per week) and cut her taxes.
Magpie's Asymmetric Warfare
Fitzgerald and Rinehart
Magpie

5 comments:

paul said...

Bill Mitchell discusses this very thing in todays blog.

Anonymous said...

Personally I find inheriting billions to be more efficient than working. Thanks for the advice though, Gina.

paul said...

"Personally I find inheriting billions to be more efficient than working"

Think I could find some of this on Craigslist?

AndyCFC said...

At the risk of sounding sexist and shallow, I wouldnt.

Anonymous said...

At the risk of sounding sexist and shallow, I wouldnt.

It's dangerous with monsters.