Australia’s richest person, Gina Rinehart, is calling for Trump-style leadership to slash government spending, boost defence, and ramp up energy security, as the country heads into national elections this weekend.
A vocal supporter of former U.S. President Donald Trump, Rinehart urged Australian leaders to adopt a more aggressive stance on cost-cutting and deregulation. “Australia must reduce its costs, cut government tape, regulations, compliance, licences,” she said, warning that excessive bureaucracy is weighing down the economy.
With a personal fortune estimated at $30 billion by Forbes, Rinehart has also become a major financial supporter of opposition leader Peter Dutton’s Liberal Party, tripling her company’s donations to A$500,000 in the 2024 financial year, according to Australian Electoral Commission data.
Despite this support, recent polling suggests Prime Minister Anthony Albanese’s Labor Party is gaining momentum in the final days of the campaign, echoing a shift seen in Canada where voters pushed back against Trump-style politics.
Rinehart’s vision includes pulling Australia out of the Paris Climate Accord, sharply increasing defence spending to 5% of GDP, and expanding fossil fuel production to strengthen energy security—positions aligned with the Trump administration’s policies. Dutton has endorsed similar energy policies, supporting natural gas and nuclear energy, while Labor continues to focus on renewables and emissions reductions.
Rinehart has also called for the establishment of a government efficiency department modeled on Elon Musk’s role under Trump, though she has not sought a formal position in government.
Separately, Rinehart recently disclosed a $1.3 billion U.S. investment portfolio focused on energy, mining, and rare earths—sectors considered strategic for national defence. These holdings have risen 2.3% year-to-date, buoyed by a 57% jump in rare earths producer MP Materials, even as the broader S&P 500 fell 5.5%.
“Americans may be ahead of us in recognising they want strong leadership and national defence,” Rinehart said. “They don’t want to risk taxpayers’ dollars and military lives for allies who are ungrateful and fail to provide for their own security.”
