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  • Rinehart almost doubles US shares to $8 billion, led by backing Elon Musk’s SpaceX | Gina Rineh…

    Rinehart almost doubles US shares to $8 billion, led by backing Elon Musk’s SpaceX | Gina Rineh…

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    Rinehart almost doubles US shares to $8 billion, led by backing Elon Musk’s SpaceX

    Australia’s richest person, Gina Rinehart, has almost doubled her bet on the US stock market, with her portfolio of shares there now worth $US5.7 billion ($8 billion).

    Filings to the US Securities Commission overnight reveal that Rinehart’s ownership of US shares increased from $US3.3 billion at the end of March to $US5.7 billion at the end of June.

    The massive jump in the value of her portfolio was driven in part by the $US1.4 billion value of her investment in technology billionaire Elon Musk’s SpaceX.

    Rinehart spent $US1 billion buying shares in the sought-after float on Nasdaq in June, equating to about 7.4 million SpaceX shares. The mining magnate’s friendship with Musk has evolved via their mutual support of Donald Trump during the 2024 US presidential election. Rinehart has described Musk as a “truly exceptional person”.

    Gina Rinehart reveals $1.9b SpaceX bet as US market splurge tops $7.5b

    Mining magnate Gina Rinehart has revealed the full extent of her bet on Elon Musk’s recent market debutant SpaceX, as Australia’s richest person continues to pile her fortune into the US market under President Donald Trump.

    Hancock Prospecting, owned by Rinehart, disclosed 8 million SpaceX shares valued at the end of June at $US1.4 billion ($1.97 billion) in the company’s filings to the US Securities and Exchange Commission overnight on Friday (early Saturday AEST).

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  • ‘I have a case’: Rinehart’s neighbour gets a lesson in suing the billionaire | ‘I have a …

    ‘I have a case’: Rinehart’s neighbour gets a lesson in suing the billionaire | ‘I have a …

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    ‘I have a case’: Rinehart’s neighbour gets a lesson in suing the billionaire

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    If disability pensioner Kathy Pope was in any doubt of the Herculean job ahead of her in suing mining billionaire Gina Rinehart over the state of their shared fence, she isn’t any longer.

    Pope fronted up to the NSW Supreme Court – virtually – on Thursday for a brief mention of her legal suit against Australia’s richest person and the 12-kilometre boundary fence that separates their farms on the state’s Northern Tablelands.

    It is no equal fight. On the one side is Pope, a vulnerable litigant with no legal representation and situated on her 157-hectare farm in Kingstown, west of Armidale. On the other is Rinehart with an estimated worth of $38 billion, half a dozen lawyers in the courtroom and ownership of some 42,000 hectares of farmland in the district.

    ‘I have a case’: Rinehart’s neighbour gets a lesson in suing the billionaire

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    If disability pensioner Kathy Pope was in any doubt of the Herculean job ahead of her in suing mining billionaire Gina Rinehart over the state of their shared fence, she isn’t any longer.

    Pope fronted up to the NSW Supreme Court – virtually – on Thursday for a brief mention of her legal suit against Australia’s richest person and the 12-kilometre boundary fence that separates their farms on the state’s Northern Tablelands.

    It is no equal fight. On the one side is Pope, a vulnerable litigant with no legal representation and situated on her 157-hectare farm in Kingstown, west of Armidale. On the other is Rinehart with an estimated worth of $38 billion, half a dozen lawyers in the courtroom and ownership of some 42,000 hectares of farmland in the district.

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    Gina Rinehart, the disability pensioner and a fight over 12km of fencing

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    The enduring words of poet Robert Frost may not be familiar to mining billionaire and poetry aficionado Gina Rinehart, or to disability pensioner Kathy Pope, but the fence that runs between their respective properties on the state’s Northern Tablelands is no good.

    Just how bad the fence is, and who is liable for what work at what cost, will be left to the NSW Supreme Court to decide, after Pope launched legal proceedings against Rinehart personally.

    It is set to be the ultimate David versus Goliath fence dispute, pitting a hobby farmer with no means to afford legal representation against Australia’s richest person, worth an estimated $38 billion and with a legion of top-tier lawyers at her disposal.

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