Australia’s richest Gina Rinehart has poured $1 billion into SpaceX, turning her mining empire Hancock Prospecting into the largest non‑ore investor in the rocket maker. The move follows last week’s record IPO that lifted SpaceX to a $2.1 trillion market cap and crowned Elon Musk the first trillionaire.

Rinehart said she sees SpaceX as a rare company led by a technically exceptional founder, operating in sectors she deems crucial for future industries. The investment signals Hancock’s confidence in Musk’s vision and a broader belief that Western capital must sustain tech innovation. She noted that SpaceX’s integrated hardware‑software model could drive long‑term returns.

SpaceX’s IPO, backed by a surge of retail investors, cemented its position as one of the U.S.’s most valuable listed firms. Rinehart’s stake, the biggest non‑ore purchase by Hancock, underlines the growing crossover between traditional resource giants and high‑tech ventures.

The deal places Hancock Prospecting alongside industry leaders such as Fidelity and BlackRock in the SpaceX shareholder roster. Investors will watch whether the mining titan can translate its mining expertise into a strategic partnership with Musk’s expanding aerospace and AI ambitions.