Gina Rinehart built her fortune digging iron ore out of the ground. Now she is placing one of the biggest bets of her career on a company trying to reach the stars. The Australian mining billionaire has purchased more than $1 billion worth of SpaceX shares, signaling her confidence in Elon Musk’s vision and the growing influence of space technology, artificial intelligence, and satellite communications.
Gina Rinehart, Australia’s richest person and executive chair of Hancock Prospecting, has acquired a stake worth more than $1 billion in SpaceX, making it the largest investment her company has ever made outside its core iron ore business.
The move comes just days after SpaceX completed a record breaking initial public offering that valued the company at roughly $2.1 trillion and propelled founder Elon Musk to become the world’s first trillionaire on paper. SpaceX shares surged about 19% during their market debut, making it one of the most successful IPO launches in recent memory.
For Rinehart, the investment represents more than a simple financial play.
In remarks reported by The Wall Street Journal, she described SpaceX as a rare company led by an exceptional founder and operating in industries with enormous long term potential. She specifically highlighted the company’s role across space exploration, connectivity, and artificial intelligence.
“We see SpaceX as a rare business,” Rinehart said, praising both the company’s technical capabilities and Elon Musk’s leadership.
The investment also underscores how Hancock Prospecting has gradually expanded beyond mining in recent years.
While iron ore remains the foundation of the company, Rinehart has increasingly directed capital into technology, rare earth minerals, defense related industries, and U.S. assets. Her company already holds investments connected to critical minerals that are essential for advanced manufacturing, batteries, artificial intelligence systems, and aerospace technologies.
Industry observers believe that connection could eventually create opportunities for cooperation between Hancock Prospecting and SpaceX.
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Hancock chief executive Garry Korte suggested there could be future collaboration involving critical mineral supply chains as demand grows for materials needed in satellites, rockets, AI infrastructure, and advanced technologies. However, he emphasized that no specific projects have been announced.
The investment is also notable because of the relationship between Rinehart and Musk.
Although they built their fortunes in very different industries and on opposite sides of the world, both have publicly supported conservative political causes and have spoken about reducing government regulation, controlling public spending, and encouraging private-sector innovation. Reports indicate the two discussed such issues following Donald Trump’s election victory in 2024.
For SpaceX, the investment is another sign of growing global confidence in the company following its blockbuster stock market debut.
The company has evolved far beyond a rocket manufacturer. Today, its business spans satellite internet through Starlink, commercial launch services, artificial intelligence initiatives, and long term plans involving orbital infrastructure and human space exploration. Investors have increasingly viewed SpaceX as a technology conglomerate rather than a traditional aerospace company.
Rinehart’s purchase reflects a broader shift among global billionaires and institutional investors who increasingly see advanced technology, AI, and space infrastructure as the next major drivers of economic growth.
The timing has already worked in her favor.
Following SpaceX’s strong market debut, the value of her newly acquired stake increased significantly as shares climbed after listing. Several reports estimated that early investors enjoyed substantial gains within days of the IPO.
For a business empire built on natural resources, the move marks a striking shift toward the technologies that could define the coming decades.
And for Gina Rinehart, it may prove to be one of the most consequential investments of her career.
