Gina Rinehart’s $1.4B SpaceX Bet Signals Billionaire Confidence in Musk

Australia’s richest person, Gina Rinehart, has almost doubled her US stock portfolio to $8 billion in six months, driven largely by a $1.4 billion bet on Elon Musk’s SpaceX. SEC filings reveal Rinehart’s Hancock Prospecting holds 8 million SpaceX shares, making it her single largest investment outside iron ore. The move signals major billionaire confidence in Musk’s rocket and satellite company despite SpaceX’s volatile trading since its June IPO.

How Rinehart built her SpaceX stake

Rinehart spent $1 billion buying 7.4 million SpaceX shares during the company’s June IPO at $135 per share. She then purchased almost 600,000 additional shares after the float to reach 8 million shares total. Her stake was valued at $1.4 billion as of June 30, according to SEC filings released overnight. SpaceX is now valued at $1.8 trillion and ranks as the eighth-largest company on Nasdaq.

SpaceX’s rocky trading since debut

SpaceX shares surged nearly 70 percent in their first three trading days in early June, peaking at $201.80. The stock then fell sharply, dropping as low as $108 per share by late July. This month has seen a recovery, with shares climbing 35 percent in five sessions after locked-up shares became available, adding roughly $500 billion to the company’s market value. The stock ended Friday at $140 per share, still below its IPO price of $135.

Rinehart’s broader US investment push

Rinehart’s total US stock holdings surged from $3.1 billion to $5.4 billion in the second quarter. Beyond SpaceX, she holds nearly 21,000 Tesla shares worth just under $9 million. She also doubled her investment in Trump Media and Technology and significantly increased positions in defence firms Northrop Grumman, Lockheed Martin, and L3Harris Technology. The SpaceX stake now eclipses her previous top holding in rare earth developer MP Materials.

The Rinehart-Musk connection

Rinehart and Musk’s friendship evolved through their mutual support of Donald Trump during the 2024 US presidential election. Rinehart has described Musk as a “truly exceptional person.” Her investment in SpaceX represents her single largest bet outside iron ore, the sector that built her $25.3 billion fortune through Hancock Prospecting. The move reflects growing billionaire appetite for space and technology ventures.

Final Thoughts

Rinehart’s $1.4 billion SpaceX position signals major billionaire confidence in Musk’s space venture, though the stock’s 35 percent recovery this month follows a sharp July decline. For Australian investors watching billionaire moves, the shift shows capital flowing toward aerospace and defence rather than traditional sectors.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.