Gina Rinehart, Australia’s Richest Person, Bets US$1.37 Billion on Elon Musk’s SpaceX
Synopsis
A regulatory filing reveals Gina Rinehart’s Hancock Prospecting held 8 million SpaceX shares, valued at $1.37 billion as of June 30.
Hancock Prospecting has a stake in SpaceX worth US$1.37 billion as of June 30, while Gina Rinehart owns 8 million shares in SpaceX, according to the latest regulatory filing.
The Gina Rinehart SpaceX stake is following Hancock's involvement in the public listing of SpaceX in June. Earlier, the company had said its allocation was a substantial investment, but had not specified how many shares or their value.
Hancock's total US securities holdings were valued at U.S. $5.71 billion as of the end of the quarter, a 72% increase from the prior quarter. The portfolio consisted of 42 stocks traded in the United States and the SpaceX stock held a large weight in the portfolio's holdings of U.S. stocks.
Outside its Australian-based resources business, the portfolio comprises interests in technology, mining, energy and other companies, indicative of Hancock's other investment activity.
Hancock Results Put the Investment in Context
Hancock Prospecting's revenue for the financial year that ended on June 30, 2025, amounted to A$11.575 billion, while its net profit after tax was A$3.081 billion. Revenue decreased by 3.6% to A$14.743 billion and net profit dropped 4.6% to A$5.566 billion in FY2024.
Iron ore continues to be the mainstay of the business. Hancock's FY2025 operations delivered 91 million tonnes of iron ore and the Roy Hill operation delivered approximately A$1.8 billion profit after tax.
The Gina Rinehart SpaceX stake is for US investors and businesses as SpaceX becomes a publicly listed company for the first time.
SpaceX had a revenue of US$7.8 billion in the second quarter of 2026, which is 92% higher than the same period last year, when the figure was US$4.1 billion. Its US$541 million net loss was an improvement from a loss of US$1.0 billion in the same quarter last year.
Based on the company's results, Starlink had US$4.29 billion in revenues for the quarter. SpaceX's latest filing also gives some context to the amount of money the company expects to generate in 2025, around US$18.7 billion.
Source: BigGo Finance
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
