Gina Rinehart just wrote a billion-dollar check for SpaceX stock, and she wants everyone to know it’s about more than rockets.
Hancock Prospecting, Rinehart’s mining empire, acquired a stake valued at over $1 billion in SpaceX following the company’s June 15 IPO. That debut valued SpaceX at $2.1 trillion, making it the largest IPO in history. Shares climbed nearly 20% on their first day of trading.
The Australian billionaire framed the investment as a bet on Elon Musk himself, calling him a “truly exceptional person” whose work across space, connectivity, and AI she expects to reshape industries for decades.
Why an iron ore titan is buying rocket company stock
This is Hancock Prospecting’s largest investment outside its core iron ore business. Full stop.
