Billionaire Gina Rinehart has taken aim at Australian businesses in a scathing attack over companies wasting money on woke virtue signalling instead of using funds to support the nation’s star athletes.

Her comments have surfaced after it was revealed Olympic and Paralympic sports are worried their funding will be slashed in the next federal budget.

‘I’ve long called on business leaders to step up and support our athletes and dedicated coaches,’ Rinehart told News Corp.

‘It’s a meaningful and practical investment in our country and in the people who represent Australia on the world stage. 

‘Too many companies and business leaders continue to waste company millions on luxury overseas conferences they should pay for personally – such as Davos and other similar woke-style conferences – virtue-signalling initiatives or billions of shareholders’ money into other causes that do nothing for increasing revenue, productivity, or national pride.

‘I would love to see more business leaders step up and directly support our athletes and dedicated coaches. Both need more support.

Rinehart hopes more wealthy businesspeople will reach into their wallets ahead of the 2032 Olympic Games on home soil.

Gina Rinehart (pictured with Aussie Olympic champion swimmer Kyle Chalmers) has taken aim at Aussie business for allocating funding to woke virtue signalling

The billionaire, along with with Hancock Prospecting, has supported Aussie swimming for more than 30 years (Rinehart is pictured with artistic swimmers)

Rinehart (pictured right with Aussie swimming legend Dawn Fraser) has been outspoken when it comes to ensuring funding for Australia’s best athletes

‘The Brisbane Olympics is a once-in-a-generation chance to bring Australians together.

‘Our athletes have a unique way of uniting Australians, inspiring the next generation, and giving us a shared sense of pride.’

The official amount Rinehart has poured into Australian sport has never been disclosed, but it’s believed the figure could be in excess of $100million.

She has assisted athletes from a number of sports, including swimming, rowing, and artistic swimming.

The world’s most popular water-based sport is where Rinehart has directed most of her attention, with the billionaire providing funding for top swimmers through Swimming Queensland and Swimming WA.

Rinehart was recently again declared Australia’s richest woman on a list made by Forbes, boasting a net worth of $24.6billion.

The daughter of iron ore magnate Lang Hancock, Rinehart rebuilt her late father’s financially troubled company, Hancock Prospecting, becoming its executive chairwoman more than three decades ago.