From the Wall Street Journal via MSN, June 15:
Gina Rinehart, Australia’s richest person, has bought a more-than $1 billion stake in SpaceX, betting on founder Elon Musk and what she says is the potential for his rocket maker to shape industries for decades.
The stake in SpaceX, which last week pulled off the largest initial public offering ever, is the single largest investment outside of iron ore made by her closely held company, Hancock Prospecting, one of the world’s major exporters of the steelmaking commodity.
The investment reflects Hancock’s confidence in Musk and recognizes the need for the West to keep investing in technology and innovation, Rinehart said in emailed remarks on Monday.
“We see SpaceX as a rare business: led by a truly exceptional person, technically exceptional and operating in sectors that are crucial, and with long-term potential,” she said. Rinehart didn’t specify the value of the investment but a person familiar with the investment said it was valued in excess of $1 billion....
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If there is any moon-mining to be done she'll be there and if SpaceX has need for rare earths her stakes in Lynas and MP may offer an edge on the procurement front.
