Rinehart Places $1.37B Bet on SpaceX Amid Growing Interest

Australia's wealthiest person, Gina Rinehart, has revealed her massive stake in Elon Musk's SpaceX through regulatory documents filed with the U.S. Securities and Exchange Commission.

The disclosure shows that Rinehart controls 8 million shares of SpaceX stock, valued at approximately $1.37 billion as of June 30. This marks the first time the full scale of her bet on the aerospace company has been made public.

Hancock Prospecting's overall exposure to U.S.-listed securities reached $5.71 billion at the end of the second quarter, a 72% jump from the prior three-month period. Rinehart directed roughly $260 million into ETFs tracking the S&P 500 and boosted positions in several defense and energy companies.

The Australian dollar equivalent of the SpaceX position was reported at A$1.97 billion in Hancock's filings, reflecting currency conversion at the end of June. Musk's own disclosure provided additional context on the company's ownership structure, showing that he holds 6.42 billion shares representing a 48.4% economic stake valued at over $900 billion.