Rinehart's Fairfax move shows wealth of state
Premier Colin Barnett has touted the wealth of Western Australia’s industry barons, after one of the state’s mining billionaires, Gina Rinehart, spent nearly $200 million increasing her stake in publisher Fairfax Media. Mr Barnett used the move by the nation’s wealthiest person to highlight the economic power of the resources boom state, saying more national businesses were going to be owned or have significant shareholdings by Western Australians. “Little old Wesfarmers purchased Coles, Kerry Stokes has purchased Channel 7 nationally, ...
