What is the size and significance of Gina Rinehart's investment in SpaceX's IPO, according to the Wall Street Journal report?

According to the Wall Street Journal report cited in the article, Australia's wealthiest person, Gina Rinehart, took a stake of 'more than $1 billion' in SpaceX's record-setting $75 billion IPO. This investment was described as an 'instant winner', as SpaceX shares rose 19% on their debut, pushing the company's valuation past $2 trillion and making it the sixth-largest U.S. company. The article emphasizes that Rinehart praised Elon Musk as 'a truly exceptional person, technically exceptional' and highlighted SpaceX's strategic importance in 'crucial' sectors with 'long-term potential'.

How does Hancock Prospecting plan to collaborate with SpaceX, and what role do its critical minerals investments play in that relationship?

Hancock Prospecting aims to work with SpaceX on supplying its mineral needs, with CEO Garry Korte stating there is 'the possibility of mutually beneficial arrangements between SpaceX and Hancock Prospecting’s significant critical minerals investments' as demand grows for materials and infrastructure supporting advanced technology. The article specifies that Hancock is a significant investor in multiple rare earths companies—including U.S.-based MP Materials and Rare Earths Americas, Australia's Lynas Rare Earths, and lithium producer Liontown Resources—and has recently expanded its U.S. portfolio in defence, gold, and rare earths holdings by $3.3 billion.

Australia's Richest Person Rinehart Takes $1 Billion Stake in SpaceX IPO, WSJ Reports

Jun 15, 2026

Mining magnate Gina Rinehart invested over $1 billion in SpaceX's IPO. Her company Hancock Prospecting holds stakes in rare earths and lithium firms, aiming to supply critical minerals for SpaceX's technology infrastructure.

reuters

2026-06-15

Australia's Richest Person Rinehart Takes $1 Billion Stake in SpaceX IPO, WSJ Reports

Australia's Richest Person Rinehart Takes $1 Billion Stake in SpaceX IPO, WSJ Reports

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