Trump Purchases SpaceX Shares Just Two Weeks Following Major IPO

On June 23, President Donald Trump acquired shares of SpaceX valued at as much as $50,000, according to a financial disclosure first reported by Reuters, occurring just two weeks after Elon Musk’s company had a record-breaking IPO.

While the precise amount Trump paid for the shares is not specified, their value had dropped from previous peaks exceeding $200. On June 23, SpaceX shares were trading in the mid-$150 range. By the end of trading on Monday, shares closed at the IPO price of $135, which may result in a loss for the president’s investment.

Despite a brief fallout last summer, during which Musk accused Trump of withholding pertinent Department of Justice files related to Jeffrey Epstein due to the frequency of Trump’s name in those documents, the two have maintained a close relationship. A recent analysis by the Wall Street Journal revealed that SpaceX has been obtaining a growing number of government contracts and benefiting from the deregulatory policies enacted during Trump’s administration.

White House spokesperson Davis Ingle told Reuters that the president’s stock portfolio is managed by external financial institutions and is designed to reflect “recognized indexes, such as the Schwab ​1000.” SpaceX has modified its lobbying strategies to change index rules for a quicker listing ahead of its IPO, indicating that numerous individuals may hold shares in the company without their knowledge.