Australia’s richest person just picked up a SpaceX stake worth more than $1 billion. ‘Elon has done what very few people in
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Since its stock market debut on Friday, SpaceX has already hit a valuation of $2.5 trillion, and the company’s got the attention of Australia’s richest person.
Key facts
SpaceX stock has surged during its first full day of trading, jumping nearly 20% to close at $192.50 on Monday after opening at $150 on Friday
Rinehart, 72, is the executive chairman of Hancock Prospecting, a major iron ore exporter, and is worth $36.9 billion
The company also bought a 6% stake worth about $34 million in Rare Earths Americas, a new U.S. miner — She was present at Trump’s reelection campaign launch in 2022 and at his Mar-a-Lago election night party in 2024 that Musk also attended
Summary
Gina Rinehart announced on Monday that she’s made a “significant investment” in the company. Rinehart, 72, is the executive chairman of Hancock Prospecting, a major iron ore exporter, and is worth $36.9 billion, . “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 in a statement. SpaceX stock has surged during its first full day of trading, jumping nearly 20% to close at $192.50 on Monday after opening at $150 on Friday.