Mining magnate Gina Rinehart has acquired a stake in SpaceX valued at over $1 billion, according to a report by the Wall Street Journal. The investment represents a major entry by the Australian billionaire into the private space exploration sector led by Elon Musk.

The transaction highlights the growing interest of high-net-worth individuals in aerospace ventures. While specific details regarding the size of the equity purchased were not disclosed, the valuation underscores the high demand for shares in the private company.

SpaceX, founded by Musk in 2002, has developed into a dominant player in the global launch industry and is actively expanding its satellite internet constellation, Starlink. The company has achieved several milestones, including the regular reuse of orbital-class rockets.

Rinehart, executive chairman of Hancock Prospecting, is known for her investments in the resources sector. This move into technology and space diversifies her portfolio beyond traditional mining and energy assets.

Space Exploration Technologies Corp. raised $75 billion through the sale of 555.6 million primary shares, marking the largest stock market debut in history. The shares opened at $150 and closed at $160.95, a 19.22% gain from the offering price of $135, pushing the company's market capitalization to roughly $2.18 trillion. In after-hours trading, SpaceX shares rose an additional 3.7% to $166.85. The stock traded in a wide range of $149.34 to $176.52 on its listing day.

Moody's Analytics chief economist Mark Zandi warned that a sudden White House crackdown on Anthropic's frontier AI models highlights a hidden "threat" capable of derailing the broader stock market and economy, clashing directly with the SpaceX IPO on the same day. Zandi noted that forcing Anthropic to pull its frontier models poses a "massive threat to that optimism, and by extension, the stock market and economy."

The Donald Trump administration slapped strict export controls on Anthropic's newly released Mythos 5 and Fable 5 large language models (LLMs). The emergency directive forced the $965 billion startup to disable access for all non-U.S. citizens overnight. The intervention reportedly followed warnings from Amazon.com Inc. CEO Andy Jassy after researchers found the advanced models could be manipulated to assist in sophisticated cyberattacks.

SpaceX revealed in its IPO filing that it holds 18,712 BTC as of March 31, recognized at a fair value of $1.29 billion. The total cost basis of these holdings was $661 million, implying an average acquisition cost of approximately $35,324 per BTC. Tesla Inc. is the only other 'Mag 8' company with a BTC reserve, holding 11,509 BTC worth more than $755 million, according to on-chain data.

The debut triggered record-breaking traffic on Robinhood, causing intermittent latency issues for some customers before the platform recovered. The financial technology company confirmed the disruptions via an X post, noting that essential systems were restored. The market euphoria lifted related equities, including Powerlaw Corp., a closed-end fund holding SpaceX as its largest position at roughly 19% of its net assets.

Analysts Have Mixed Opinions on SpaceX Stock

The company has attracted mixed opinions, with some analysts predicting long-term growth. Goldman Sachs predicted revenue will jump by 100x by 2030. However, Morningstar argued the company was increasingly overvalued, estimating the stock's real value was below $1 trillion. Jim Chanos warned that the elevated valuation made no sense, pointing to losses and 2025 revenue of $18 billion.

Why SPCX Stock May Drop After the IPO

The hype surrounding the IPO may fade as investors focus on upcoming OpenAI and Anthropic IPOs. History shows that over 90% of newly listed companies surge and then pull back as investors book profits. The company is also losing billions due to its AI business, reporting a net loss of over $4.2 billion in the first quarter and $4.9 billion last year. Additionally, the tiered lock-up expiry after 180 days may allow insiders to sell shares, potentially causing a retreat.