Article by Daniel Jeffrey, courtesy of the Nine.com.au
If you’ve watched even a fraction of the swimming at Paris 2024, you’ve probably noticed an extremely wealthy Australian sitting in the stands, cheering on our medallists – and no, we’re not talking about Queen Mary of Denmark/Tasmania.
Gina Rinehart has been a constant presence on the pooldeck and next to the rowing course, and plenty of athletes have name-dropped her after their success these Games.
There are millions of reasons why that’s the case.
Why is Gina Rinehart at the Olympics?
It’s not particularly unusual for the ultra-wealthy to go to the Olympics – we’ve seen dozens of celebrities in the stands at Paris.
Rinehart might be worth north of $35 billion, enough to make her Australia’s richest person, but she’s nowhere close to the wealthiest we’ve seen at Paris 2024, after Bill Gates was spied enjoying the action.
But while some are there to cheer along, Rinehart is a supporter of Australian sport in another crucial way: with her wallet.
How much money does Gina Rinehart give to Olympic sports?
We’re not talking the odd cheque here or there. Rinehart is the patron of Rowing Australia, and, through her mining company Hancock Prospecting and her foundation, pours about $10 million every year into that sport as well as swimming and beach volleyball.
Little wonder she’s been seen in the stands at all of those sports in Paris.
Since 2012, her investment in the Olympic team has totalled a reported $80 million.
Compared to the major codes like AFL, NRL and cricket, where broadcasting rights soar into the hundreds of millions and even billions, it might seem like a relatively modest investment.
But those dollars are crucial for sports that rarely enjoy the limelight outside the Olympics, sometimes being the difference between allowing an athlete to focus solely on their craft and having to juggle full-time with their training.
“I don’t say this lightly, but Gina Rinehart saved swimming,” four-time Olympian Cate Campbell told the Australian Financial Review in 2021.
“Gina Rinehart stepped in (after many sponsors abandoned ship following the poor London 2012 campaign in the pool),” she added.
“She made funds available that went directly to athletes.
“This allowed many athletes – myself included – to see that there was a future career in swimming for us.
“I’m not sure where a lot of swimming careers would have ended up if there hadn’t been this injection of funds.”
Last year, she announced a $3 million, two-year fund for athletes who medalled in certain sports at Paris – up to a lazy $20,000 for a gold, with an extra $30,000 cherry on top for a world record.
Shame the pool in Paris has been so unconducive to record-setting swims.
To top things off, Rinehart has also organised a lavish afterparty on a luxury boat down the Seine for Australia’s swimmers and rowers on Monday night (Paris time).
What have athletes been saying about Gina Rinehart?
As you’d expect, athletes in the sports supported by Rinehart have been all praise for their patron.
Rowers Jess Morrison and Annabelle McIntyre, who claimed Australia’s only medal of the regatta with bronze in the women’s pairs, made special mention of the mining magnate after clambering onto the podium.
“To be able to be supported, to be able to almost pursue this sport like it’s a professional job, is really important,” McIntyre said.
“It’s always so lovely that she makes an effort to be here for us on these special days, and was really a part of the experience,” Morrison said.
“She doesn’t watch from afar, she’s really in it with us.”
Tara Rigney, who only just missed the podium, had a similar message, saying she is “hoping maybe one day I can do her proud”, while members of both the men’s and women’s eights also paid tribute to her after missing the medals.
As for the swimmers, Elijah Winnington’s father Jeff, who is a Swimming Queensland director, sung Rinehart’s praises after his son’s silver and bronze haul.
“If it wasn’t for Mrs Rinehart’s contribution there is no way Australia would have done as well on the medal table,” he told The Australian.
That’s nothing out of the ordinary from the pool, with swimmers thanking her after last year’s successful world championships, after this year’s trials, and before heading to Paris.
