Today was a “bad” day for Sir Peter Beck.
The Rocket Lab chief lost US$55 million, according to Forbes’ real-time richlist tracker, as Rocket Lab’s shares dipped, along with most Nasdaq stocks.
No matter.
Thanks to his 10.5% stake in Rocket Lab – whose shares have blasted off this year – Beck is now worth US$3.5 billion ($6.2b).
That would be enough to put Beck in third place on NBR’s Rich List, behind Mat and Nick Mowbray ($20b) and Graeme Hart ($12.1b) and ahead of the Goodman family ($5b).
The publication’s static list, published in June, has Beck on $650 million.
It missed a huge run-up in Rocket Lab’s stock as Beck’s firm signed the first contracts for its much larger, crew-capable Neutron Rocket – due for its maiden launch later this year.
Rocket Lab has also delivered two spacecraft to Nasa for a Mars-orbiting mission, dramatically expanded its satellite and satellite components business, and via an acquisition, positioned itself to potentially be a big player in US President Donald Trump’s envisioned “Golden Dome” missile defence.
The company now has a pipeline of work worth more than US$1 billion. A flurry of new deals this month, including a major contract with the Japan Aerospace Exploration Agency, has further fattened its order book.
It was an honor to host Gen. Stephen Whiting, Commander of U.S. Space Command, for a recent tour of the production line for our Electron and HASTE launch vehicles. We’re proud to support both national security and commercial missions with responsive launch, innovative… pic.twitter.com/itz1Vixf2z
— Rocket Lab (@RocketLab) July 9, 2025
The political demise of Elon Musk, chief executive of key rival SpaceX, didn’t hurt, either.
The rise and rise of Rocket Lab has also been good news for early-stage Kiwi tech companies.
One-time Fisher and Paykel Appliances apprentice Beck has invested in numerous Kiwi start-ups at key make-or-break points in their development, including Halter, Partly, Foundry Lab, Astrix Astronautics and HeartLab.
He’s also offered mentorship, office space and helped hookup Kiwi founders like Halter’s Craig Piggott with deep-pocketed US investors.
Rocket Lab’s surging price has also allowed it to raise US$750m via a rights issue without diluting its stock – helping to pay for expansion, acquisitions and an ongoing hiring spree.
ESCAPADE = Escape and Plasma Acceleration and Dynamics Explorers 🛰️🛰️
— Rocket Lab (@RocketLab) October 9, 2025
The two ESCAPADE spacecraft, built by Rocket Lab for @NASA & @ucbssl will study how solar wind and plasma interact with Mars’ magnetosphere.
Understanding how Mars lost much of its atmosphere helps scientists… pic.twitter.com/d4076WfSh4
Beck’s firm is currently advertising 54 jobs in Auckland, from inventory coordinators to avionics engineers to AI specialists.
Local staff now number around 800 (of some 2600 worldwide), including 50 taken on in 2023 as Rocket Lab bought the 6500sqm Warkworth carbon composite plant abandoned by Sir Russell Coutts’ SailGP as it decamped for Spain.
Rocket Lab’s blast-off is also good news for the 32,000-plus New Zealanders who have invested in its shares through platforms like Sharesies.
In July, Sharesies co-founder Leighton Roberts said the average buy price was US$12.76.
While most of Beck’s wealth is tied up in his firm, he sold a parcel of shares worth US$20.2m in 2023 to capitalise his charitable foundation.
Rocket Lab acquisitions
Chris Keall is an Auckland-based member of the Herald’s business team. He joined the Herald in 2018 and is the technology editor and a senior business writer.