Australian billionaire says investment reflects her confidence in world’s first trillionaire after his record-breaking IPO

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Gina Rinehart’s company has made a “significant investment” in Elon Musk’s SpaceX and said it hopes to collaborate on AI infrastructure.

Hancock Prospecting secured shares as SpaceX began trading on sharemarkets on Friday, Rinehart said in a statement today. The figure, which Rinehart did not confirm, is reportedly at least A$1.4bn.