Mining tycoon Gina Rinehart reveals $1.4 billion SpaceX stake
Gina Rinehart, Australia’s richest person, bought 8 million shares of Elon Musk’s SpaceX in the second quarter and poured several hundred million dollars more into US equities.
The Space Exploration Technologies Corp. stake, held by Rinehart’s investment firm, was worth $1.37 billion as of June 30, according to a regulatory filing Friday, making it her single biggest position.
She also bought shares in exchange-traded funds tracking the S&P 500 that were worth about $260 million at the quarter-end, boosted her holdings in several defense and energy stocks, and doubled her stake in Trump Media & Technology Group Corp., the company founded by President Donald Trump.
Taken together, she held $5.71 billion of US-traded securities at the end of June, a 72% increase from the previous quarter.
Rinehart, 72, said in June that she made “a significant investment” in SpaceX in connection with its June 12 initial public offering, without specifying its size.
“Our investment in SpaceX reflects our confidence in Elon Musk, an exceptional and brilliant person, and SpaceX’s execution under his leadership, as well as in Elon Musk’s proven ability to use science for the betterment of mankind,” a spokesperson for her firm said in a statement Saturday, adding that the firm invests for the long term in a diverse set of companies.
The tycoon, who made her fortune developing massive iron-ore deposits in Western Australia, is worth $32.4 billion, according to the Bloomberg Billionaires Index.
Her investment firm, called Hancock Prospecting, is required to make quarterly disclosures of certain US-listed holdings as long as their aggregate value exceeds $100 million. It held 42 different securities as of June 30, largely consisting of companies in mining, energy, technology and defense, as well as ETFs.
In recent years, Rinehart has sought to raise her profile in Washington and at Trump’s Mar-a-Lago resort in Florida. Back home, she has emerged as a backer of Australia’s far-right One Nation party, including donating a private jet to its leader, Pauline Hanson.
(By Ainslie Chandler and Anders Melin)
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