Rinehart told about the investment via email, and a source revealed the stake's size.
The investment indicates Hancock's trust in Musk and the necessity for additional Western funding in technology and innovation, according to the email. It represents the firm's biggest investment beyond the iron ore industry.
Rinehart notes that SpaceX is a unique company: guided by an extraordinary leader, technologically superior, and functioning in vital sectors with lasting potential.
She points out that SpaceX is the sole company globally creating a combined hardware and software system for space, communication, and AI. "Their efforts will influence sectors, economies, and prospects for many years ahead," Rinehart stated.
Hancock's CEO Garry Korte informed the Wall Street Journal that the Australian firm aims to partner with SpaceX and envisions a synergistic integration of its capabilities with Hancock's substantial investments in essential minerals, driven by increasing demand for materials and infrastructure for advanced technologies. Nonetheless, a spokesperson stated that Hancock does not plan to invest in additional space companies.
source: wsj.com
The investment indicates Hancock's trust in Musk and the necessity for additional Western funding in technology and innovation, according to the email. It represents the firm's biggest investment beyond the iron ore industry.
Rinehart notes that SpaceX is a unique company: guided by an extraordinary leader, technologically superior, and functioning in vital sectors with lasting potential.
She points out that SpaceX is the sole company globally creating a combined hardware and software system for space, communication, and AI. "Their efforts will influence sectors, economies, and prospects for many years ahead," Rinehart stated.
Hancock's CEO Garry Korte informed the Wall Street Journal that the Australian firm aims to partner with SpaceX and envisions a synergistic integration of its capabilities with Hancock's substantial investments in essential minerals, driven by increasing demand for materials and infrastructure for advanced technologies. Nonetheless, a spokesperson stated that Hancock does not plan to invest in additional space companies.
source: wsj.com