Hancock Prospecting Buys A$1.4 Billion of SpaceX IPO Stock as Shares Jump 20%
Updated
Updated · The Guardian · Jun 15
Hancock Prospecting Buys A$1.4 Billion of SpaceX IPO Stock as Shares Jump 20%
3 articles · Updated · The Guardian · Jun 15
Summary
Hancock Prospecting said it made a significant investment in SpaceX after the company’s Friday market debut, with reports putting the stake at more than A$1.4 billion.
A$135 IPO shares closed at $160.95 on the first day, giving Hancock an immediate gain of about 20% as SpaceX reached a US$2.1 trillion valuation after raising US$75 billion.
Gina Rinehart said the investment reflects confidence in Elon Musk and SpaceX’s long-term potential, while Hancock CEO Garry Korte said the miner sees scope to supply critical minerals and work on AI infrastructure.
SpaceX’s prospectus says the company still loses billions annually and may never become profitable, even as it pitches ambitions spanning Starlink, space-based datacentres and Moon and Mars colonies.
If the reported size is accurate, SpaceX would become Hancock’s largest US shareholding, and the IPO’s scale is expected to pull more global investors into the stock through Nasdaq 100 index funds.
With billions in losses from its new AI arm, is SpaceX's record-breaking $2 trillion valuation justified or a speculative bubble?
With Elon Musk controlling 85% of the vote, are new SpaceX investors just funding a vision they can't influence?
Why did Elon Musk pivot from his Mars colony dream to a Moon base, a move experts call a 'cosmic mistake'?
Australia’s Richest Woman Bets $1.4 Billion on SpaceX: Hancock Prospecting’s Bold Move into Space Mining
Overview
In June 2026, Gina Rinehart made a landmark $1.4 billion investment in SpaceX, driven by her strong confidence in Elon Musk and a belief in the importance of Western leadership in technology. This move marks a pivotal shift for Hancock Prospecting, signaling a bold step beyond traditional mining into the space technology sector. By aligning with SpaceX, Hancock Prospecting aims to explore space mining, which could supply materials for space missions and bring cleaner industries and new technologies back to Earth. This strategic investment positions the company as an innovator, eager to diversify and capitalize on future-oriented industries.