New hope for the poor.

princeofpounds

Anyone who had a stack of mining assets over the last 15 years would have to be an outright idiot not to make any money given we've just had an unprecedented Chinese-fuelled commodity boom.

She may well have worked hard and smartly as well, but her billions derive from placing and timing. Maybe she was the difference between 1 billion and 10, or 9 billion and 10, who knows.

Loughton_Monkey

moneyinmypocket wrote: »

She is one women I wouldn't mind snuggling up too, we could throw bread crumbs at the poor while hot ballooning over a council estate

Do you think she could get off the ground?

Eellogofusciouhipoppokunu

princeofpounds wrote: »

She may well have worked hard and smartly as well, but her billions derive from placing and timing. Maybe she was the difference between 1 billion and 10, or 9 billion and 10, who knows.

Isn't virtually everyone's wealth derived from a combination of placing and timing? Warren Buffet's certainly is.

buglawton

Generali wrote: »

She's an interesting woman. Basically she inherited control of a trust which owned a bunch of mining licenses. She was clever in wooing the likes of Rio Tinto to develop those licenses into income streams.

Be under no illusion: Ms Rinehart is a very good businesswoman. She is also a philatrophist: she supports Cambodian orphanages and a charity that helps trafficked people, neither of which would get much support without her.

It's easy to sneer at the rich but she inherited enough that she never needed to work and there are plenty of nice beaches to laze on in Aus. That she has developed her interests and employed thousands, at least, of Australians is good for her and for the country. A Capitalist fairy tale.

Sneering? Where? Just pointed out that a inheritor of substantial assets advising others how they should work harder if they want to attain wealth is not a 'like for like' situation.

But not surprising, since it's in the natural interest of an owner-employer that employees work harder.

Loughton_Monkey

buglawton wrote: »

....But not surprising, since it's in the natural interest of an owner-employer that employees work harder.

Don't think she was aiming her venom at her own employees.

She seems to look over at this neck of woods and our "Socialist Policies" and doesn't feel it should happen in Oz.

Must admit, though, if I was worth £19 billion or so, I'd probably spend a bit more time drinking, smoking and socialising.

Given that "she doesn't have a real job", she could probably follow her own advice and get a job, say, as a cleaner, and she'd be even richer.

StevieJ

Loughton_Monkey wrote: »

My only surprise is why she didn't also suggest that the poor spend too much time eating. Can't think why.....

Looking at her it seems that advice could be offered to her

headcone

Fella wrote: »

Do you blame your parents for that out of interest?

No not really,my mother was an orphan due both her parents dying of quite preventable conditions had her parents benefited from NHS treatmeant.

She was brought up in Styal catholic childrens home.

Incidendtally now a womens prison.

My father was an irish immigrant on a paid passage to allievate the worker shortage.

He was a man determined to succeed and worked his !!!! off to own his first then second then third then fourth then fifth etc house which he converted into flats to rent to the less fortunate amongst society,most of whom were tories.

So blame my parents hell no,they are the reason i have 3 houses and six flats all mortgage free rented to the less fortunate.
Unlike the old etonians we did it ourselves.:)

PaulF81

You all might want to check out the percentage of the total of the uk's annual tax haul taken in off the top 5% of earners. For those that vote labour and live a life befitting of shameless, I suggest you think twice before insisting on more wealth redistribution. You can kill the goose that laid the golden egg and increased tax rates end up reducing the total tax haul.

Norfolk_Jim

Theres an interesting chart about this out there somewhere. Maybe someone will paste it up? - Puts it in perspective and most informative.

N1AK

headcone wrote: »

... I wonder how clever she would have been,had she been born in the dreadfull slums of Manchester.

Like me?

I was born in a rough part of Manchester, in a single parent family. I'm doing just fine thanks and that doesn't prove that I'd be some multi-multi-millionare if I'd come from a rich family instead.

She was lucky to be born with better opportunities than most, but she still had to do plenty to make the most of it and she has; she is definitely entitled to an opinion and has credibility (although I don't agree with a lot of what she says).