Australia’s Richest Billionaire Bets $1 Billion On Elon Musk’s .

Australia’s richest person, mining billionaire Gina Rinehart, has placed one of the most significant bets of her career on the future of space technology, taking a stake reportedly worth more than $1 billion in Elon Musk’s newly public SpaceX.

The investment, first reported by The Wall Street Journal, positions Rinehart and her company Hancock Prospecting among the most prominent investors in what has already become one of the most closely watched public offerings in recent history.

While Hancock Prospecting declined to confirm the exact size of the stake, Rinehart described the investment as a major milestone for the company and highlighted the extraordinary demand surrounding the offering.

“This is a significant investment for Hancock, and we are pleased to have received an allocation in what has been an extremely popular and oversubscribed IPO,” she said.

The move underscores growing confidence among global investors in Elon Musk’s expanding business empire. SpaceX has rapidly evolved from a private aerospace company into one of the world’s most valuable technology enterprises, spanning rocket launches, satellite communications, artificial intelligence infrastructure and next-generation space systems.

Rinehart praised Musk’s leadership and long-term vision, describing SpaceX as a rare company operating at the intersection of technological innovation and strategic global importance.

“We see SpaceX as a rare business: led by a truly exceptional person, technically exceptional and operating in sectors that are crucial, and with long-term potential,” she said.

The timing of the investment has already delivered impressive returns. SpaceX shares surged 19% during their market debut, pushing the company’s valuation beyond $2 trillion. That milestone elevated SpaceX into the ranks of America’s largest corporations and reinforced investor appetite for companies connected to artificial intelligence, space exploration and advanced technology.

For Rinehart, the investment represents more than a financial opportunity. Hancock Prospecting has spent years building substantial positions across the critical minerals sector, including rare earths, lithium and strategic resources essential for high-tech manufacturing.

The company holds investments in several major mining and mineral ventures, including rare earth and lithium producers that supply materials increasingly needed for electric vehicles, defense systems, renewable energy technologies and advanced computing infrastructure.

Hancock Prospecting Chief Executive Garry Korte indicated that the relationship could eventually extend beyond financial ownership. He suggested future opportunities may emerge between SpaceX and Hancock’s growing portfolio of critical mineral assets as global demand for advanced technology materials accelerates.

The prospect highlights an increasingly important trend in global business. As artificial intelligence, aerospace technology and advanced manufacturing expand, competition for critical minerals continues to intensify. Companies capable of securing reliable supply chains may gain a significant strategic advantage.

Recent regulatory filings also revealed that Hancock Prospecting expanded its exposure to defense, gold and rare-earth investments across its $3.3 billion U.S. portfolio, signaling a broader shift toward sectors tied to national security and emerging technologies.

Rinehart’s support for Musk extends beyond business performance. She has publicly praised his entrepreneurial approach and his efforts to reduce government bureaucracy through initiatives associated with the administration of U.S. President Donald Trump.

“SpaceX is yet another clear example of why the world needs more enterprise, more builders and much less bureaucracy,” Rinehart said.

The investment arrives as both business leaders continue to exert growing influence beyond their respective industries. Musk remains one of the most powerful figures in technology and innovation, while Rinehart has become an increasingly vocal voice in Australian political and economic debates.

For investors, however, the headline remains simple: one of the world’s wealthiest mining magnates has made a billion-dollar wager on the future of space, artificial intelligence and advanced technology. Judging by SpaceX’s explosive market debut, that bet is already paying off.

As global demand for satellite networks, AI infrastructure, space exploration and critical minerals accelerates, the partnership between Gina Rinehart and Elon Musk could become one of the most consequential business alignments of the decade.