Australia's wealthiest person, mining tycoon Gina Rinehart, has acquired a stake of over $1 billion in SpaceX through her company Hancock Prospecting. The investment was made during SpaceX's record-breaking initial public offering. While Hancock Prospecting confirmed a "significant investment," it did not officially disclose the exact amount.
Rinehart praised Elon Musk as a "truly exceptional person" and stated the investment reflects her confidence in the company's long-term potential in crucial sectors. Hancock Prospecting also noted the potential for future collaboration, suggesting it could supply critical minerals to support SpaceX's advanced technology and AI infrastructure needs. This move represents one of Rinehart's largest investments outside of her core iron ore business.