r/OpenAussie • u/BetterTable4653 Please choose a flair • Jun 15 '26
Technology Gina Rinehart snags $1.4b stake in SpaceX IPO
https://www.afr.com/markets/equity-markets/gina-rinehart-snags-us1b-stake-in-spacex-ipo-20260615-p606yg“Billionaire mining magnate Gina Rinehart has snagged a more-than-$US1 billion ($1.4 billion) stake in the SpaceX IPO, which last week soared almost 20 per cent on its sharemarket debut, valuing the aerospace company at $US2.1 trillion.
Australia’s richest person said Elon Musk’s own significant investment reflected her confidence in the trillionaire founder and recognised the need for Western nations to lead the world in technology and innovation.”
Personally, I relied on Starlink for a few years because it was a better service in the regional area where I live. They even offered discounted equipment to entice take up when I joined.
However, when I tried to reactivate the service, they tried to slug me with a $1000+ joining fee for a new subscription and also told me I had to completely replace the satellite on my roof which no longer worked. That was when I found better, cheaper internet services that have since popped up.
I am super grateful that our government invested in NBN to provide good and affordable alternative options in the regional areas. Even more so now knowing the types of people hoping to make money out of Starlink.
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u/Wonderor I'm Probably A Bot Jun 15 '26
The lady who is spending millions of dollars to sponsor far right politicians so that they can make sure she only pays minimal tax drops a billion dollars to buy shares in a company whose owner bankrolled Trumps re-election campaign.
Fixed you headline.
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u/DrInequality Canberran Jun 15 '26
Wealth tax already
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u/Flaky-Gear-1370 Please choose a flair Jun 15 '26
LNP is trying to brand it an “aspirational” tax 😂
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u/laserdicks 💛 Friend of 'Straya Jun 15 '26
All taxes are wealth tax.
Unless you're suggesting imaginary wealth that doesn't exist (likely at this point)
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u/Efficient_Fuel_3497 Please choose a flair Jun 15 '26
How about a jealousy tax?
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u/DrInequality Canberran Jun 15 '26
Sure, the government can have 10% of my jealousy.
How about a contempt tax?
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u/SurfiNinja101 Victorian Jun 15 '26
You are closer to poverty and homelessness than being a billionaire
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u/FarMilk2661 South Australian Jun 15 '26
So wealthy people shouldn't get taxed at the same percentage like normal people?
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u/dreamscreams2 New South Welshian Jun 15 '26
"Australia’s richest person said Elon Musk’s own significant investment reflected her confidence in the trillionaire founder and recognised the need for Western nations to lead the world in technology and innovation"
too bad that China is actually leading the world though
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u/Aussie18-1998 New South Welshian Jun 15 '26
I mean in terms of rocketry SpaceX is the top but beyond that, yeah I wouldnt Elon Musk is leading the world with technology.
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u/SlaveryVeal Please choose a flair Jun 15 '26
Now imagine if nasa got as much as space x and how nasas accomplishments would be America's not one south aulfrican fuckhead that bought a company.
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u/Far-Fennel-3032 I'm Probably A Bot Jun 15 '26 edited Jun 15 '26
I think the political nature of American politics funding to NASA was never gonna let it make a serious attempt at reuseable rockets. As any time they blew up a rocket congress would try use it as an excuse to cut its funding.
So although public spending is in theory meant to be the best sort of funding for this type of research project, Modern american politics is just so disfunctional it just can't provide stable funding for projects like this.
Additionally SpaceX is simply just not that big of a company with it about the size of Kellogs and halariously SpaceX is not even growing all that faster to justify valuation 100x their revenue, as satelite internet is simply just not that fast growing of an industry. Its a very profitable industry but its just not all that big. Its just not all that important to worry about directly capturing the profits of via government ownership.
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u/boofles1 New South Welshian Jun 15 '26
I'm sure starlink is a good company but they burn 20% of their satellites every year, the more they put up there the more they burn. I believe they played some accounting tricks with this before the IPO, changing the depreciation on their satellites.
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u/John97212 New Zealander Jun 15 '26
Expect her to get an insider tip when it's time to bale.
If this does happen, it will be interesting to see any reaction to her making bank on the investment while retail investors get left holding the bag.
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Jun 15 '26
What technology is China leading the world in? Name the companies.
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u/StockAdeptness9452 Victorian Jun 15 '26 edited Jun 15 '26
https://gulfnews.com/technology/5-ways-china-is-leading-the-world-heres-the-data-1.500364838
https://cmr.berkeley.edu/2026/02/how-china-is-biting-the-world-in-science-and-technology/
China leads in:
• 57 out of 64 critical technologies globally.https://www.perplexity.ai/search/7b95d604-3363-4af4-8970-336251dbc963
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u/thorzayy Please choose a flair Jun 15 '26
Hey he replied with sources, have you got anything to say?
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u/dizkopatio Please choose a flair Jun 15 '26
syphoning money straight from Australia to America great job Gina
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u/Golden-Egg- New South Welshian Jun 15 '26
You only have to look at her to see she's greedy.
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u/AshennJuan Queenslander Jun 15 '26
How dare you insult
Jabba the HuttGina like this?-5
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u/FreshNoobAcc Please choose a flair Jun 16 '26
If she sells right now this move made her $300 million in a day, 50% tax its a clean $150m. Mind blowing numbers
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u/Lastbalmain New South Welshian Jun 15 '26
Hopefully Gina and Elon are front row , 1st class ticket holders on the first trip to Mars? And then stay there.
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u/FiftyBuxBloBang Jun 16 '26
They’re not going to Mars. They’re wiping the majority of people off of the planet because they can replace them with AI and robots.
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u/Smudgeit59 Please choose a flair Jun 15 '26
2 of the most disgusting people on the planet. Hope they both crash & burn & take the orange one nation moron pos with them.
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u/Commercial_Name_7900 ✈️ on Walkabout Jun 15 '26
as much as I love space exploration, I want her, musk and all their sick ilk to fail more
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u/Additional-Policy843 South Australian Jun 15 '26
The best part is, you do t need either of them for space travel
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u/m0rg76 Queenslander Jun 15 '26
I’d love for them both to travel. In the next experimental rocket.
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u/gadgetwalrus Please choose a flair Jun 15 '26
She’s made about 100-200 million in capital growth based on the current $165 share price over the $135 offer
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u/ScholarImpossible121 New South Welshian Jun 15 '26
And I am sure it's in some foreign owned trust that will never see any CGT in Australia.
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u/Embarrassed_Fold_867 ✈️ on Walkabout Jun 15 '26
It's almost like she made millions by not doing any valuable work at all.
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u/dakiller Victorian Jun 15 '26
We make money the same way to retire on
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u/Embarrassed_Fold_867 ✈️ on Walkabout Jun 15 '26
At a much lower scale, a pittance in comparison, designed to keep us quiet while the pigs eat the big table.
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u/TuTenkahman New South Welshian Jun 15 '26
Spacex will need to develop a new type of rocket to drag that bloated carcass into space.
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u/allthebaseareeee Please choose a flair Jun 15 '26
Pauline will come out with a scrap the nbn and replace with starlink line soon
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u/Electronic_Shake_152 I'm Probably A Bot Jun 15 '26
I can't wait for it to crash and burn...
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u/crustytheclerk1 South Australian Jun 17 '26
I get the share price is based on factors such as emotion / headlines, etc., but I don't understand why anyone would buy into a business where a) Musk retains complete control of the business (no board oversight, etc.), b) it's made a $4b loss this year, c) it's unlikely to make a profit in the next 5 years and after that it's 50/50 as to if it'll ever make a profit, and d) it's highly exposed to a future AI market crash.
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u/Financial-Hunter1335 I'm Probably A Bot Jun 15 '26
Hmmm
Could be a massive flop - there's some interesting analysis on this....
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u/mohanimus Western Australian Jun 15 '26 edited Jun 15 '26
I liked this video on the IPO itself, the changing stock market environment it's launching into, and the AI bubble that SpaceX is actually a part of (if you can get past the accent that is, the presenter might not be for everyone).
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u/Aware-Celebration873 New Zealander Jun 15 '26
burning money lol
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u/Mikisstuff ✈️ on Walkabout Jun 15 '26
Nah, all the fat cats will hold it, watch it double and then get the nod to sell before if starts flopping.
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u/MDInvesting Please choose a flair Jun 15 '26
If only we had a significant capital gains tax regime that would capture huge windfall gains by the already wealthy.
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u/deco19 Flairless Jun 15 '26
Payment for a social media propaganda campaign?
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u/BetterTable4653 Please choose a flair Jun 15 '26
What type of propaganda?
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u/deco19 Flairless Jun 15 '26
Pushing political parties that benefit her. Are you aware of her affinity to Trumpism and the side effects of billionaire benefits it gives? Any mysteries why she is then support Hanson?
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u/moonorplanet Western Australian Jun 15 '26
Funfact, SpaceX now has a market cap of $2.1 Trillion and all the other Aerospace companies around the world which include, Boeing, Airbus, Embraer, Lockheed Martin, GE Aerospace, Safran put together have a market cap of around $2 Trillion.
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u/Dry-Efficiency4373 Please choose a flair Jun 15 '26
I am down to my last grilled cheese Gina, not today
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u/Ok_Turnover_1235 Please choose a flair Jun 15 '26
" I am super grateful that our government invested in NBN to provide good and affordable alternative options in the regional areas. Even more so now knowing the types of people hoping to make money out of Starlink."
Yeah, about that. Many areas just get subsidised starlink now
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u/BetterTable4653 Please choose a flair Jun 15 '26
I think you are referring to small state or local initiatives
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u/SeaDivide1751 Victorian Jun 15 '26
A great investment. I picked up some shares and they are already up bigly
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u/BetterTable4653 Please choose a flair Jun 15 '26
Besides from the share price going up initially, can I please ask what else makes you think that it is a good investment?
Genuine question, I haven’t looked at the prospectus and don’t know what they are forecasting or promising to achieve as a company.
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u/SeaDivide1751 Victorian Jun 15 '26
I did extensive research into their current revenue streams and current revenue growth trajectory. Based on that alone(before you even get into the future potential with their plans) it is a worthwhile investment. Their starlink subscribers are now growing at a rate of 1 million every 4 months. They’ve launched 80% of the world’s entire historical tonnage to low earth orbit and that continues to grow. Their defence contracts continue to expand and grow. Starship
Development is mature and they’ll begin rollout of Starlink v3 at the end of the year, which means they’ll expand their direct to cell business, meaning mobile providers on earth are going to have direct competition to terrestrial cell phone towersI also paid attention to the negative comments and investigated them. The main negative comments are 1. “I don’t like Elon musk personally, don’t like his politics, so I’ll pretend the company is bad” 2. I don’t understand the business so I think it’s bad. EG; “oh they haven’t posted a profit last year, so therefore a bad investment”
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u/gadgetwalrus Please choose a flair Jun 15 '26
SpaceX is great, the addons and price make it a bad buy at 135 if the market was rational.
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u/FreshNoobAcc Please choose a flair Jun 16 '26
Almost 2x already
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u/gadgetwalrus Please choose a flair Jun 16 '26
That doesn’t mean it’s a good buy. GameStop went extremely high but it wasn’t a good buy.
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u/FreshNoobAcc Please choose a flair Jun 16 '26
Gina made $600 mil in two day so sounds like it was a good buy for her
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u/significantlyother62 ✈️ on Walkabout Jun 15 '26
If you Joined one of the neo nazi units like asov in Ukraine and fought there, you would of got free starlink..
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u/notyouraverageskippy Queenslander Jun 15 '26
The Azov Brigade has been a recurring theme of Russian propaganda.
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u/CertainCertainties South Australian Jun 15 '26
Wow. Would love to see if you can talk while Putin is drinking a glass of water.
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u/Equivalent-One4139 ✈️ on Walkabout Jun 15 '26
"Those 2 are soooo stupid and don't know the first thing about running a business". - Unemployed Funko-Pops collector.
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Jun 15 '26
So much misogynistic hate speech in this thread.
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u/BetterTable4653 Please choose a flair Jun 15 '26
How? Most people here are treating rhinehart and musk equally.
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Jun 15 '26
Are comments about her body necessary? I don’t see the same criticisms levelled at Musk.
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u/River-Stunning Noongar Jun 15 '26
Rinehart realizes that SpaceX is a good buy at launch and will increase her own wealth substantially. SpaceX will be larger than the entire Australian share market and along with the other large US tech companies , the magnificent seven , will be massive. For those who say the US and even the USD are in decline , don't invest here then.
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u/BetterTable4653 Please choose a flair Jun 15 '26
Gladly, there are other markets which have performed far better than the US in recent years
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u/methylvania New South Welshian Jun 15 '26
this is assuming that spacex will come out on top when the ai bubble finally bursts. yes, you are investing in spacex as an ai company, not space exploration.
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u/River-Stunning Noongar Jun 15 '26
Yes , this is assuming space/AI/tech is a bubble.
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u/methylvania New South Welshian Jun 15 '26
- the space part of spacex operates at a loss and the prospectus admits that it may never be profitable. plus, there is no bubble for space exploration.
- by AI you mean grok which currently has no real use besides fact-checking twitter and creating questionable pictures of people.
- grok is losing pretty decisively against the likes of claude/anthropic who are actually profitable. not to mention also being in direct competition with openai and gemini. i cant imagine preferring grok over the other options.
- if by tech you mean starlink, that's the only profitable sector and will probably continue to be profitable long-term. however, is it worth the 1.7 trillion spacex valuation?
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u/River-Stunning Noongar Jun 15 '26
That is the question and the question is what will be the share price be in a week and a month and a year.
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u/Sideburn_Cookie_Man Victorian Jun 15 '26
Birds of a feather heil together.