Gina Rinehart ‘to give half her fortune away’ as part of family feud settlement

WELL, no one saw this coming. A bitter legal dispute between the mining billionaire and her children may end in a massive payday for complete strangers.

PERTH, AUSTRALIA - JUNE 09: Gina Rinehart, chairman of Hancock Prospecting joins protesters as they rally against the government's proposed mining tax outside the Hyatt Regency Hotel where Prime Minister Kevin Rudd is to address the Perth Press Club on June 9, 2010 in Perth, Australia. Rudd is in Western Australia to campaign for his proposed 40% resources super profits tax amid falling approval ratings in recent polls and strong opposition from the mining industry. (Photo by Paul Kane/Getty Images)

WELL, no one saw this coming.

Gina Rinehart, Australia’s richest person, is reportedly considering giving away half of her massive fortune as part of a settlement deal stemming from her bitter court battle with her children.

The Australian reports Mrs Rinehart may hand over 50 per cent of her estimated $14 billion mining fortune to philanthropic causes in negotiation with her estranged son John Hancock.

Mr Hancock wants his mum to give the money away either in her lifetime or after her death, and has used the example of generous fellow miner Andrew Forrest as an example.

Mr Hancock and his sister Bianca Rinehart last month won a protracted legal stoush against their mother, wresting control of a $4 billion family trust.

Family tensions have cooled somewhat, and Mr Hanckock and Mrs Rinehart are on speaking terms, The Australain reports.

Give it away, give it away, give it away now ... John Hancock.

$4 billion reasons to smile ... Bianca Rinehart.

So who would be the lucky recipients?

Cancer research, Olympic sports and the Royal Flying Doctor Service have all been touted.

“We have had discussions and we are aligned the charity should only be Australian with a focus on northern Australia,” Mr Hancock said.

“I have endeavoured for years to come to a global settlement including succession issues and how things including a charitable foundation will look in the future.”

Mrs Rinehart, who has grown rich from mining royalties paid by Rio Tinto, has been criticised in the past for not being charitable enough.

Her most well known philanthropic activities involve support of Australian swimming.