Trump bought SpaceX shares two weeks after blockbuster IPO
The president bought when the stock was in the mid-$150 range. SpaceX finished trading on Monday back at its IPO price of $135.
On June 23, President Donald Trump purchased up to $50,000 worth of SpaceX shares, according to a financial disclosure obtained by Reuters. This occurred two weeks after the company's record-breaking IPO. The exact price Trump paid for the shares remains unknown, but by that time, they had plummeted from their initial highs of over $200.
SpaceX shares were trading at around $150 per share on the day of the purchase. By the end of trading on Monday, shares had closed at the IPO price of $135, potentially putting Trump's investment in the red. Despite a brief conflict between Trump and SpaceX founder Elon Musk last summer, the two maintain a close relationship. During this period, SpaceX has secured a growing number of government contracts and has benefited from the Trump administration's emphasis on deregulation.
According to a recent analysis in The Wall Street Journal, SpaceX has been strategically lobbying to change the rules of popular indexes to expedite its inclusion, which likely means that many investors, including Trump, now own shares in the company without realizing it. White House spokesman Davis Ingle confirmed to Reuters that the president's stock portfolio is overseen by third-party financial institutions and is designed to mirror established indexes, such as the Schwab 1000.
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