Billionaire Gina Rinehart Made ‘Significant’ SpaceX Investment

Australia’s richest person Gina Rinehart said she made “a significant investment” in SpaceX, as her mining company laid out ambitions to work with Elon Musk’s rocket and satellite company.

Hancock Prospecting, Rinehart’s investment company, said in a statement Monday it was allocated shares in SpaceX’s initial public offering last week, though didn’t specify the size of the stake. Dow Jones said Rinehart’s stake was valued at more than $1 billion.

“This is a significant investment for Hancock,” Rinehart said in the statement. SpaceX is “operating in sectors that are crucial and with long-term potential,” she said.

Gina Rinehart with Elon Musk in an undated photograph shared in a Hancock Prospecting release.

Source: Hancock Prospecting

SpaceX, ...