Rinehart’s $1.4B SpaceX Bet Doubles US Stock Holdings to $8B

Australia’s richest person, Gina Rinehart, has almost doubled her US stock portfolio to AUD 8 billion, driven largely by a AUD 1.4 billion investment in Elon Musk’s SpaceX. Rinehart spent USD 1 billion buying 7.4 million SpaceX shares during the company’s June IPO at USD 135 per share, then purchased an additional 600,000 shares afterward. The move signals her confidence in Musk’s rocket, AI, and satellite ventures and marks her largest investment outside iron ore.

How Rinehart’s SpaceX bet unfolded

Rinehart invested USD 1 billion in SpaceX’s Nasdaq float in June at USD 135 per share, acquiring 7.4 million shares. She then bought nearly 600,000 more shares, bringing her total stake to 8 million. SpaceX peaked at USD 201.80 in the days after listing but has since traded as low as USD 108, closing Friday at USD 140 per share. Her SpaceX holding is now valued at USD 1.4 billion (AUD 2.1 billion), making it her single largest investment outside iron ore through Hancock Prospecting.

Why Rinehart backs Musk

Rinehart and Musk’s relationship deepened through their mutual support of Donald Trump during the 2024 US presidential election. Rinehart has publicly described Musk as a “truly exceptional person.” Beyond SpaceX, she also holds nearly 21,000 Tesla shares worth just under USD 9 million (AUD 13.5 million). Her SpaceX investment reflects confidence in the company’s revenue growth, with quarterly revenue reaching USD 7.8 billion.

The broader US market expansion

Rinehart’s US stock holdings jumped from USD 3.3 billion at end-March to USD 5.7 billion at end-June, nearly doubling in three months. SEC filings released overnight on August 15 revealed the shift. Rinehart topped the 2026 Financial Review Rich List with an estimated wealth of AUD 39 billion. Her aggressive US market positioning suggests confidence in American tech and space sectors despite SpaceX’s recent volatility.

Mixed returns so far

SpaceX’s IPO rally has cooled since its June peak. The stock surged 49.6 percent from USD 135 to USD 201.80 in the first days of trading but has since retreated. At USD 140 per share, Rinehart’s investment is down 3.7 percent from her initial USD 1 billion purchase price, though the stock has rallied 30 percent from recent lows. The volatility reflects tight supply, with only a 4 percent free float available while 96 percent remains under insider lockup.

Final Thoughts

Rinehart’s USD 1.4 billion SpaceX stake underscores her conviction in Musk’s ventures and marks a major shift toward US tech exposure. For Australian investors, her move signals where global capital is flowing, though the investment’s current modest loss shows even billionaires face near-term volatility in newly listed growth stocks.

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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.