Gina Rinehart, Australia’s richest person and chairwoman of Hancock Prospecting, has acquired a stake worth more than $1 billion in SpaceX. The investment was announced on Monday, shortly after SpaceX’s stock market debut on Friday, which valued the company at $2.5 trillion. Rinehart’s holding is Hancock’s largest outside of iron ore, signaling strong confidence in the aerospace and technology firm, according to fortune.com.
The mining magnate’s investment follows SpaceX’s stock surge, which jumped nearly 20% to close at $192.50 on Monday after opening at $150 on Friday. Rinehart has met with SpaceX CEO Elon Musk multiple times, praising the company’s achievements such as being the first private firm to dock at the International Space Station and deploying a large-scale broadband satellite constellation in low Earth orbit. She described SpaceX as a rare business led by an exceptional leader, combining hardware and software across space, connectivity, and AI sectors, fortune.com reported.
This move highlights growing investor interest in SpaceX’s integrated approach to space exploration and technology. The company’s $2.5 trillion valuation places it among the most valuable globally, reflecting its pioneering role in commercial spaceflight and satellite internet services. Rinehart’s $1 billion stake is notable as Hancock Prospecting’s largest investment beyond its core iron ore business, underscoring the expanding appeal of space technology investments, according to fortune.com.
SpaceX’s stock market debut on June 12 marked a major milestone, with shares opening at $150 and closing at $192.50 on the first full trading day. Rinehart’s investment announcement on June 15 confirms her position as a significant shareholder in one of the world’s leading aerospace companies, as reported by fortune.com.