Australian mining baron Gina Rinehart has invested more than one billion dollars in Elon Musk's SpaceX. This significant investment comes as SpaceX's initial public offering set records. Rinehart's company, Hancock Prospecting, sees potential for future collaboration with SpaceX on critical mineral supplies. SpaceX shares saw a strong debut, increasing the company's valuation significantly.

Australia’s richest person has emerged as one of the largest investors in the world’s hottest company.

The mammoth bet deepens Rinehart’s ties to Musk - now the world’s first trillionaire - and US president Donald Trump.