
$38b bombshell drops before Swimming Australia’s D-Day as expulsion threat lingers
News Corp first reported Rinehart’s decision to step away from funding the governing body — to instead focus on payments given directly to individual athletes — has created a gaping hole the sport has not been able to recover from. It was revealed in August the mining mogul has pumped a staggering $60 million of her estimated $37.1b fortune into various Aussie Olympic teams, including swimming, volleyball and rowing. It is no secret the Australian swimming team has always been her darling. She was poolside at the 2023 World Aquatics Championships in Japan in July as the Aussie team blew the Americans out of the water with 13 gold medals. Aussie star Shayna Jack made a special thankyou to Rinehart on the pool deck after the Aussie 4x100m mixed freestyle relay team won gold. “We couldn’t be prouder and also just to have Gina in the crowd supporting us, that’s amazing,” she said on Channel 9.