Why Australia’s richest person just made a $140m bet on defence

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Australia’s richest person, Gina Rinehart, has bought into some of the world’s largest defence companies. It may seem an unusual move for a mining billionaire, but it reflects a broader shift in markets.

Defence has gone from a geopolitical matter to a global investment theme, driven by government spending, technological advances and greater uncertainty in global security.

As conflicts persist in Europe and the Middle East and tensions remain elevated in Asia, governments are dramatically increasing military expenditure. According to the Stockholm International Peace Research Institute (SIPRI), global military spending reached a peak $US2.9 trillion in 2025, marking the 11th consecutive year of growth.

Europe has become a key driver. The continent’s military spending surged to record levels last year. NATO members agreed in June 2025 to lift the alliance’s long-term defence spending target from 2 per cent of GDP to 5 per cent by 2035.

Bloomberg reported this month that Rinehart had invested almost $US100 million ($140 million) in US arms companies in the first quarter of this........

© Brisbane Times