Gina Rinehart is among thousands of Australians who have lost money on Elon Musk’s SpaceX, as the tech company’s share price crashes back to earth.

SpaceX shares closed below their debut price of US$135 a share during trading on Thursday, at $131.11.

The tech company, which also owns xAI and social media platform X, had soared to a market value over $2.6tn in the first three days after its share market listing in mid-June, but has steadily fallen back to a record low market value of US$1.72tn.

Rinehart’s company, Hancock Prospecting, took a stake in SpaceX at its initial public offering (IPO), the biggest debut in stock market history, which ​briefly made Musk the world’s first…