Hancock Prospecting Invests $1.37B in SpaceX, Doubles TMTG Stake
By Business Desk
Gina Rinehart’s Hancock Prospecting invests $1.37B in SpaceX, its largest US holding, and doubles its stake in Trump Media & Technology Group (TMTG).
Hancock Prospecting, led by Australia’s wealthiest individual Gina Rinehart, made a substantial $1.37 billion investment in Elon Musk’s SpaceX. This marks the firm’s largest single holding in the United States.
The investment follows SpaceX’s Nasdaq initial public offering in June 2026. Hancock also doubled its existing holdings in Trump Media & Technology Group (TMTG).
Key Investment Figures
- SpaceX Investment: $1.37 billion
- Total US Securities: $5.71 billion by June 2026
- Quarterly Increase: 72% from previous quarter
This expansion brought Hancock Prospecting’s total US-traded securities to $5.71 billion by June 2026. This represents a 72% increase from the prior quarter, diversifying beyond traditional iron-ore operations.
The firm also acquired exchange-traded funds (ETFs) tracking the S&P 500 index. This move signals a strategic shift towards US technology and media sectors.
Investor Considerations
Investing in high-growth, speculative equities like SpaceX and TMTG carries inherent risks. Both companies operate in sectors prone to significant price volatility.
SpaceX faces capital-intensive challenges in scaling its space exploration and satellite services. TMTG’s stock price remains sensitive to media and political developments.
These technology, media, and defense sector stocks are more susceptible to interest rate changes and broader economic trends than stable commodity stocks. Hancock Prospecting is subject to quarterly disclosure requirements by the US Securities and Exchange Commission due to the scale of its investments.