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Australia's Richest Person Buys $1B SpaceX Stake After Record IPO
The miner called the SpaceX purchase its biggest investment outside iron ore and said it sees future links in critical minerals and advanced technology.
- On Monday, Hancock Prospecting Executive Chairman Gina Rinehart invested more than $1 billion in SpaceX's record-setting $75 billion IPO, marking the largest investment outside iron ore in the miner's history.
- SpaceX shares surged 19% during their Nasdaq debut last Friday, pushing the company's valuation past $2 trillion as investors capitalized on Elon Musk's sprawling empire spanning rockets, satellites, and AI.
- Rinehart described Musk as a 'truly exceptional' leader and praised his work with President Donald Trump's Department of Government Efficiency, or DOGE, to reduce federal bureaucracy.
- Hancock CEO Garry Korte flagged potential 'mutually beneficial arrangements' between SpaceX and the miner as demand grows for materials needed to support advanced technology.
- This acquisition expands a Hancock portfolio already holding Tesla, Nvidia, and Trump Media, reflecting strategic confidence in the West investing in technology and innovation.
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27 Articles
27 Articles
Australia's wealthiest person, mining baron Gina Rinehart, has taken a stake of more than $1 billion in the record-setting $75 billion SpaceX IPO, the Wall Street Journal reported on Monday, citing a person familiar with the matter.
·New York, United States
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Rinehart backs ‘truly exceptional’ Musk with $1.4 billion bet on SpaceX
Australia’s richest woman has made a reported US$1billion ($1.41 billion) bet on the world’s first trillionaire, issuing a full-throated endorsement of Elon Musk following his company SpaceX’s record-breaking US stock market listing.
·North Sydney, Australia
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Coverage Details
Total News Sources27
Leaning Left5Leaning Right8Center4Last UpdatedBias Distribution47% Right
Bias Distribution
- 47% of the sources lean Right
47% Right
L 29%
C 24%
R 47%
Factuality
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