Gina Rinehart’s mind-blowing money spent on Olympic Games, Swimming Australia funding

Australia’s richest woman Gina Rinehart is known as a huge supporter of Olympic sports. For the first time, we can reveal the astonishing size of her funding portfolio.

Revealed: Gina Rinehart’s jaw-dropping level of support for Australian Olympic sports

Mining magnate Gina Rinehart’s jaw-dropping level of support for Australian Olympic sports can finally be revealed as the Dolphins swim team revels in their new status as the world No.1.

While Olympic sports recently begged the federal government for a fresh injection of funding to prepare athletes for the Paris Olympic Games, receiving an extra $20m commitment, what has never been known until now is exactly how much Ms Rinehart is propping up several key sports like swimming, rowing, artistic swimming, volleyball and as a sponsor of the Australian Olympic team.

Figures obtained by Code Sports show that Ms Rinehart’s generous commitment to Olympic sports has been valued at more than $60m since she first committed to helping the swim team after their disastrous 2012 London Olympic campaign where they won just a single gold medal.

It is believed to be the single biggest contribution to Olympic sport by any individual anywhere in the world.

Gina Rinehart (middle) with Australian swimmers including Ariarne Titmus.

Crucially, for the athletes, Ms Rinehart’s company Hancock Prospecting makes the majority of her commitment through direct athlete support, ensuring that it is the actual competitors and not bloated head offices or employees reaping the benefits of her donations.

Knowing money goes into athlete pockets is why she walked away from Swimming Australia to work more directly with swimmers via Swimming Queensland.

At the moment there are 75 elite swimmers and 50 elite rowers who are individually funded by Ms Rinehart annually.

She flew to Japan to see Australia’s historic performance at the world titles in Fukuoka, thrilled her investment in this golden generation of athletes was proving successful.

“A huge and warm congratulations to all our Aussie swimmers for their fantastic efforts in Fukuoka, representing Australia proudly and shining on the world stage,” she said.

“I’m told this is Australia’s best ever international swimming performance. It’s very exciting to be here with these young role models and patriotic ambassadors.”

Shayna Jack is one swimmer who is supported by Ms Rinehart.

Aussie swim star Shayna Jack said the success and longevity of careers in this current swim team was directly related to the support.

“Ms Rinehart is the most generous and supportive person towards the Australian Swimmers. She supports us financially in which allows us to make a career out of our swimming and get the most out of that career,” Jack said.

“More athletes would retire well and truly before their 30’s if it wasn’t for Ms Rinehart’s generosity. Not only does she support us financially but she shows up.

“She’s there when, Aussie flag in hand, smile on her face as we stood tall singing the National anthem to the rest of the world. That is pretty special for myself and our team.”

It’s not just swimmers rising to the top, rower Tara Rigney will head to Serbia’s world titles next month as a single sculls medal contender on the back of direct support that’s enabled her to be a full-time athlete training at a venue in Penrith for the women funded by Ms Rinehart.

“She’s an amazing support for rowing, especially the women’s rowing trying to achieve gender parity across the field,” Rigney said.

“It would be a lot more challenging to perform, especially in rowing and I’d imagine swimming too, where you are training three times a day, six-days a week, it’d be really hard to keep a job and do that.

“Ms Rinehart really helps us be able to achieve those dreams and make this possible.”

Originally published as Gina Rinehart’s mind-blowing money spent on Olympic Games, Swimming Australia funding