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

Australia’s richest person, Gina Rinehart, has revealed an 8 million share stake in Elon Musk’s SpaceX worth USD 1.4 billion (AUD 1.97 billion), making it her single largest US stock investment outside iron ore. The mining magnate spent USD 1 billion buying shares during SpaceX’s June IPO at USD 135 per share, then purchased an additional 600,000 shares after the float. Her bet signals confidence in the space company even as it navigates volatile trading.

How Rinehart’s SpaceX bet unfolded

Rinehart participated in SpaceX’s June IPO, the largest in history, spending USD 1 billion to acquire 7.4 million shares at USD 135 each. She then bought 600,000 additional shares after the float, bringing her total stake to 8 million shares. By the end of June, her holding was valued at USD 1.4 billion. The investment eclipsed her previous top US position in rare earth developer MP Materials, according to SEC filings revealed on August 15.

SpaceX stock’s wild ride since listing

SpaceX shares surged nearly 70 percent in their first three trading sessions in early June, peaking at USD 201.80. The stock then halved in value through July, trading as low as USD 108. This month has seen a sharp recovery, with shares climbing 35 percent in the five sessions since locked-up shares became available on August 12. SpaceX now ranks as the eighth-largest company on Nasdaq, valued at USD 1.8 trillion. Shares closed Friday at USD 140, still below the IPO price.

Rinehart’s broader US market expansion

Rinehart’s total US stock portfolio almost doubled to USD 5.7 billion (AUD 8 billion) between March and June 2026. Beyond SpaceX, she holds nearly 21,000 Tesla shares worth just under USD 9 million. She also doubled her investment in Trump Media and Technology Group and significantly increased positions in defence firms Northrop Grumman, Lockheed Martin, and L3Harris Technology. Rinehart’s friendship with Musk evolved through their mutual support of Donald Trump during the 2024 US presidential election, and she has described Musk as a “truly exceptional person”.

Institutional caution contrasts with Rinehart’s conviction

While Rinehart has committed heavily to SpaceX, Australia’s largest pension fund AustralianSuper has taken a cautious approach with only 73,500 shares, citing wariness about betting member savings on Musk’s venture after SpaceX’s volatile first two months. The USD 410 billion fund’s minimal stake reflects broader institutional hesitation, even as Rinehart’s conviction buying signals long-term confidence in the space technology sector.

Final Thoughts

Rinehart’s USD 1.4 billion SpaceX bet represents her largest US investment outside mining and reflects deep conviction in Musk’s space ambitions. The stock’s recovery from July lows suggests institutional confidence may be building, though volatility remains a real risk for investors.

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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.