 After the rights offering Robert Friedland (founder and ceo) will have his interest in the company lowered to 15.5% while Rio Tinto will have its interest maintained at 40.5%.On February 9, 2011 two Rio Tinto execs were elected to Ivanhoe's board putting the number of Rio Tinto board members at 6 (out of a total of 14), the move was made in response to Rio Tinto's growing interest in the company.In June 2011 Rio Tinto paid $502 million for 55 million more shares of Ivanhoe Mines or 4.5% more of the company (up to 46.5%).