Australia's richest person and mining magnate Gina Rinehart has acquired a stake worth more than $1 billion in Elon Musk's space technology company SpaceX in a record-breaking IPO, the Wall Street Journal reported, citing a source familiar with the matter.
Hancock Prospecting, which Rinehart heads, did not confirm the exact amount of the investment, but described it as a significant investment for the company. Gina Rinehart said that SpaceX is one of the few companies with technological superiority, operating in strategically important areas and with long-term growth potential.
The company plans to participate in the supply of critical minerals that SpaceX needs in the future. Hancock Prospecting currently invests in a number of large companies operating in the production of rare earth elements and lithium.
SpaceX shares rose 19 percent on the first day of trading on the stock exchange, raising the company's market value to more than $2 trillion. This makes SpaceX the sixth most valuable company in the United States.
