That's a healthy suspicion in all places and all eras, we reckon. It would be easy to say that what he seeks is an anachronistic return to laissez faire, in which the doers do and the rest of us let them – and indeed that is the core of his thinking…In Hancock's Australia not only bureaucrats but politicians, including ministers of the Crown, would be reduced to minor roles. The man who gave Gina Rinehart her wealth, ... Lang Hancock-Dave Allen interview in 1975 on Westralian secession - Duration: 11:30. economicsthemovie 10,016 views. Sorry, your blog cannot share posts by email. In the mid-1960s, a deal with the Rio Tinto Group was entered and Lang and his business partner Peter got an annual royalty of A$25 million to be split evenly between the two men. That was thirty years ago. Message from John Howard and on reverse, Sir Joh Bjelke-Petersen. By The Daily Reckoning | More Articles by The Daily Reckoning. ", The man was also deeply suspicious of democracy in the sense that it amplifies the moronic absurdities of majority thinking. Commemorating 50 years since Lang Hancock’s discovery flight of Hamersley Ranges. His third wife was his former maid, Rose, a Filipina who was 41 years younger. "It is one of the great faults of our democratic system that a man running for elective office cannot afford to be unpopular. The national Times. "You really think the majority is always wrong?" Why? But so, too, would the grey-suited minions of the multi- national companies, with their safe, lowest-common denominator decisions in the boardrooms of Sydney or Melbourne. First, Lang Hancock believed that all real wealth begins with tangible assets. }, false ); Terracom has counter-cyclically placed itself in a position to improve efficiency and margins plus pursue organic mine growth. Then, in 1992, Lang Hancock died unexpectedly at the age of 82. But it's as true today as it was then. It took many more years of negotiation with the government and mining companies for the iron ore mine to start operation. He was 82 years old when he died in 1992 at his mansion which was inherited by Rose. Gina accused Rose of murdering his father and a long running legal battle ensued, only to be dismissed by the court declaring that Lang died of heart disease. "All real wealth is in the ground and societies become prosperous only by exploiting that wealth," he said. But in our study of Australia, we present to you the insights that we find most useful in trying to figure out the place. There are a few reasons. Rinehart is Australia's richest person and was also the world's richest woman for a period of time, with a net worth of A$29.17 billion during 2012; by 2019, her wealth had eased to around $US14.8 billion, according to Forbes. First, Lang Hancock believed that all real wealth begins with tangible assets. Duffield asked. ", He was also suspicious of the political power structure of modern Australia. 2p.
Lang Hancock married three times. Discover how much Lane Hancock is worth today, view full biography, facts, and family life.
In 1963, Hancock and his partner Peter Wright signed an agreement with British company Rio Tinto (whose local operating entity was called Hamersley Iron Pty Ltd) for royalties of 2.5% of the value of all ore mined in perpetuity. Here's what Hancock said thirty years ago: "Australia is not a democracy, in any shape or form. He partnered with a school friend, Peter Wright, to put up Hancock Prospecting Ltd., a mining firm to produce asbestos. The royalties were to be the source of Hancock’s eventual wealth. Fourth come the media, and as a very poor fifth, the elected representatives of the people. This is the great tragedy of Australia.".
After that, he went to work on his father’s Mulga Downs Station, a sheep and cattle station which currently occupies an area of 950,000 acres (384,451 ha) .
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