Australia's wealthiest individual, Gina Rinehart, acquired 8 million shares in Elon Musk's aerospace company SpaceX during the second quarter of this year, while also committing several hundred million additional dollars to the U.S. stock market.
Rinehart holds this SpaceX equity through her private investment firm. According to regulatory filings released Friday, the stake was valued at $1.37 billion as of June 30, making it her largest single investment. During the same period, she also purchased exchange-traded funds tracking the S&P 500 index, which were valued at approximately $260 million by the end of the second quarter. Additionally, she increased her holdings in several defense and energy companies and doubled her position in Trump Media & Technology Group (TMTG), the company founded by Donald Trump.
In total, the value of her U.S.-listed securities reached $5.71 billion as of the end of June, a significant 72% increase from the previous quarter. The 72-year-old Rinehart stated in June that she had made a "substantial investment" in SpaceX following the company's IPO on June 12, though she did not disclose the amount at the time.
The mining magnate accumulated her wealth by developing major iron ore deposits in Western Australia. According to the Bloomberg Billionaires Index, her net worth stands at $32.4 billion. Rinehart's company, Hancock Prospecting, is required to disclose its holdings quarterly when the total value of its U.S. stock assets exceeds $100 million.
As of June 30, the firm held a total of 42 securities, primarily focused on mining, energy, technology, and defense companies, along with various ETFs. In recent years, Rinehart has actively expanded her connections in Washington D.C. politics and at Trump's Mar-a-Lago estate in Florida. Back in Australia, she has become a supporter of the far-right One Nation party and donated a private jet to its leader, Pauline Hanson.
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