Hancock Prospecting, owned by Australian billionaire Gina Rinehart, was allocated shares in SpaceX's initial public offering in mid-June 2026, with the stake reportedly valued at over US$1 billion (about A$1.4 billion) though the company declined to confirm exact figures [1, 2].
SpaceX's IPO raised a record US$75 billion, making it the largest listing ever. After the first day of trading on June 12, 2026, SpaceX's market valuation reached approximately US$2.1 trillion [1, 2]. The share price opened at $135 and closed at $160.95, giving Hancock Prospecting an estimated immediate return of around 20% [2].
Gina Rinehart expressed confidence in SpaceX's leadership and long-term prospects. She said, "This is a significant investment for Hancock. SpaceX is operating in sectors that are crucial and with long-term potential." She added, "Elon has done what very few people in history have done – he has not just imagined the future, he has built companies capable of delivering it, and helped to keep American technology at the forefront" [1, 2].
Hancock Prospecting CEO Garry Korte emphasized potential collaboration opportunities, noting the company "could work with SpaceX as a supplier of critical minerals for its advanced technology infrastructure" and called the partnership prospect "exciting" [1, 2].
SpaceX aims to develop systems to make life multiplanetary, including plans for one million space datacenters and colonies on the Moon and Mars. The company currently operates at a loss as it invests heavily in these long-term projects [2].
After the IPO, Hancock Prospecting holds a significant stake in a company valued at over two trillion dollars, representing a notable expansion into the space and technology sector for Rinehart, whose personal fortune is estimated at US$37 billion by Bloomberg's Billionaires Index [1].
Hancock Prospecting revealed its share allocation on June 15, three days after SpaceX’s IPO trading began on June 12 [1, 2].
