Australian Billionaire Gina Rinehart Invests Over $1 Billion in SpaceX
Gina Rinehart, Australia's richest person and chairwoman of Hancock Prospecting, announced a significant investment in SpaceX, valued at over $1 billion. The mining magnate cited the rocket-maker's technological leadership, its operations in crucial sectors, and the vision of its CEO, Elon Musk. This investment follows SpaceX's stock market debut, where its valuation reached $2.5 trillion, with shares experiencing a notable surge in early trading.
Gina Rinehart, the 72-year-old chairwoman of Hancock Prospecting and Australia's wealthiest individual with a net worth of $36.9 billion, revealed a substantial investment in SpaceX on Monday. The Wall Street Journal reported that Rinehart's stake in the aerospace company is valued at more than $1 billion.
Hancock Prospecting's investment in SpaceX marks its largest outside of the iron ore sector, indicating Rinehart's confidence in the venture. Rinehart stated that SpaceX is a "rare business," led by an "exceptional person," and operates in sectors deemed "crucial and with long-term potential." She further noted SpaceX's unique position as the only company globally integrating hardware and software across space, connectivity, and artificial intelligence.
SpaceX saw its valuation reach $2.5 trillion following its stock market debut on Friday. The company's stock, which opened at $150 on Friday, closed nearly 20% higher at $192.50 on Monday.
Rinehart, who has met with Elon Musk multiple times, commended SpaceX for its numerous achievements in space exploration. These include being the first private company to dock at the International Space Station and pioneering the deployment of a large-scale broadband satellite constellation in low Earth orbit. She praised Musk for building companies that deliver the future and maintain American technological leadership.
This investment aligns with Hancock Prospecting's recent focus on the U.S. market. In the first quarter of 2026, the company invested almost $100 million in U.S. weapons manufacturers, including RTX, Northrop Grumman, L3Harris Technologies, and Lockheed Martin. Additionally, it acquired a 6% stake, valued at approximately $34 million, in Rare Earths Americas. Rinehart has also built a significant portfolio in rare earth investments globally since 2020, becoming the largest outside of China.
Hancock Prospecting Chief Executive Officer Garry Korte commented on the potential for mutually beneficial arrangements between SpaceX and the company's critical minerals investments. Rinehart has also publicly supported Donald Trump and expressed alignment with Musk's views on restricting government size.
(Source: Fortune)
