Richest person in Oz ends trust feud with ‘lazy’ children

Australia’s richest person Gina Rinehart said she plans to relinquish control of a multi-billion dollar family trust, ending a long-running and bitter feud with two of her “lazy” children.

The mining mogul’s lawyers told a Supreme Court directions hearing in Sydney that her decision meant the two-year dispute was “effectively over”.

Two of Rinehart’s four children — John Hancock and Bianca Rinehart — have been embroiled in a court case to have her removed as head of the trust which was established by their grandfather, the late Lang Hancock.