Trump bought shares in Elon Musk's SpaceX in June, financial disclosure shows

U.S. President Donald Trump made a financial investment of up to $50,000 in Elon Musk's SpaceX during the month of June, according to a recent financial disclosure filed with public records. The President's personal investment was made on June 23, as part of a total of over 1,000 stock trades conducted by the White House in that same month. The purchase came as SpaceX prepared to undergo the largest-ever U.S. Initial Public Offering (IPO) on June 12, which valued the company at a staggering $1.77 trillion.

In response to the disclosure, a White House spokesman, Davis Ingle, stated that the President's portfolio is managed by third-party financial institutions who aim to replicate recognized indexes, such as the Schwab 1000. The President and his family have no authority to direct, influence, or provide input on the investments in their portfolio, Ingle emphasized.

The President's investment in SpaceX is noteworthy given the administration's decisions that could potentially impact the company's future. SpaceX is a significant U.S. military contractor that frequently requires approvals from federal agencies. In recent days, President Trump directed his team to expedite the number of U.S. commercial space launches, with SpaceX being a dominant player in that sector.

Kelly Loeffler, the U.S. Small Business Administration (SBA) leader and Trump's cabinet member, previously earned millions from SpaceX's IPO. She made two investments in Musk's AI and social media firm, xAI, which has since merged with SpaceX. The first investment would have been worth between $7 million and $2.6 billion on the day of the IPO, while the second would have been valued between $2.2 million and $25.4 million, according to Franco Granda, an analyst at data provider PitchBook.