Gina Rinehart, Australia’s richest person, announced a major purchase of 8 million shares in Elon Musk’s SpaceX during the second quarter. The stake, held by her investment firm Hancock Prospecting, was valued at $1.37 billion on June 30, making it her largest single position.
In addition to SpaceX, Rinehart increased her US equity exposure. She bought about $260 million of S&P 500‑tracking ETFs, added to several defense and energy stocks, and doubled her holding in Trump Media & Technology Group.
By the end of June, her US‑traded securities totaled $5.71 billion, a 72 % jump from the previous quarter.
A spokesperson said the SpaceX investment reflects confidence in Musk’s vision and the company’s execution, and that the firm seeks long‑term returns across diverse sectors.
Rinehart, 72, built her fortune from iron‑ore deposits in Western Australia and is valued at $32.4 billion. Hancock Prospecting must report quarterly any US holdings over $100 million and had 42 different securities on June 30.
She has also been active in US politics, visiting Washington and Trump’s Mar‑a‑Lago resort, and in Australia she backs the far‑right One Nation party, having donated a private jet to leader Pauline Hanson.
The move underscores Rinehart’s growing interest in high‑growth tech and defense sectors, while her diversified portfolio continues to expand beyond her traditional mining roots.