Jun 22, 2026 – 12.00pmHyperion Asset Management, long one of the biggest local backers of electric carmaker Tesla, is doubling down on Elon Musk with a stake in the trillionaire’s rockets and artificial intelligence business SpaceX.The Brisbane-based money manager, which oversees $12.5 billion in assets, has long been a major shareholder in Tesla, with the stock accounting for more than 12 per cent of its portfolio. Hyperion told clients on Monday morning that it had added a stake in SpaceX to its $3.8 billion Global Growth Fund, with a weighting ranked in the middle of its holdings.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles