Gina Rinehart loses estimated A$700 million SpaceX profit as shares decline sharply
Australian mining billionaire Gina Rinehart's estimated A$700 million profit from SpaceX's June IPO has evaporated as the company's shares fell below their US$135 debut price to US$131.11 on Thursday. Hancock Prospecting invested over US$1 billion in the offering, the largest IPO in history. Analysts say Rinehart, who knows Elon Musk personally, likely views the investment as long-term.
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Summary by OZbrief Editorial · The Guardian Australia · Source
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Published 17 Jul 2026, 04:41 UTC · Updated 17 Jul 2026, 05:11 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia. Editorial policy · Corrections
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