US President Donald Trump invested between $15,001 and $50,000 in Elon Musk’s SpaceX in June, according to a financial disclosure that has revealed a new financial connection between the president and the major government contractor.
Trump purchased the SpaceX shares on June 23, according to a disclosure he signed on August 12 and which was made public on August 22. The filing does not give the exact value of the investment because US officials are required to report assets within value ranges.
The SpaceX purchase was among more than 1,000 stock transactions Trump made during June.
The investment comes as SpaceX plays an increasingly important role in the US space industry and works closely with government agencies. The company is a major military contractor and regularly seeks approvals from federal authorities for its operations.
Trump’s administration has also taken steps affecting the commercial space sector. On Thursday, he directed his administration to help significantly increase the number of commercial space launches in the United States. SpaceX is one of the largest companies operating in that market.
The investment also comes against the backdrop of Trump’s previously close relationship with Musk. Musk served as an adviser to Trump before the two men became embroiled in a public dispute.
The White House said Trump does not personally control the investments in his portfolio.
White House spokesman Davis Ingle told Reuters that third-party financial institutions independently manage the president’s investments and replicate recognised indexes, including the Schwab 1000.
“Neither President Trump nor any member of his family has any ability to direct, influence or provide input regarding how the portfolio is invested or when investments are bought or sold,” Ingle said.
SpaceX recently completed the largest US initial public offering on record, with the company valued at $1.77 trillion on June 12. The business has major interests in rockets, satellite communications and artificial intelligence.
Trump is not the only senior administration figure with financial ties to Musk’s companies.
Kelly Loeffler, the head of the US Small Business Administration and a member of Trump’s Cabinet, has also benefited substantially from investments linked to Musk. She invested in xAI, Musk’s artificial intelligence and social media company, which later merged with SpaceX.
Reuters previously reported that Loeffler’s investments could have been worth millions or even billions of dollars when SpaceX went public, depending on the amounts and timing of her purchases.
The exact value of Trump’s SpaceX holding remains unclear because his financial disclosure only identifies the investment within a range.
You must be logged in to post a comment Login