Trump’s SpaceX stake: US President invested up to $50,000 in Musk’s company - report

US President Donald Trump reportedly invested between $15,001 and $50,000 in Elon Musk’s SpaceX in June, according to a financial disclosure that reveals a new financial link between the president and the major government contractor.Trump bought the SpaceX shares on June 23, the disclosure showed, as reported by Reuters. He signed the filing on August 12, and it was made public on August 22. The purchase was among more than 1,000 stock transactions he made during June.SpaceX completed the biggest-ever US IPO on June 12, reaching a valuation of $1.77 trillion and becoming a major player across space, satellite and artificial intelligence markets.The investment comes as the Trump administration takes decisions that could directly affect SpaceX’s business. The company is a US military contractor and regularly requires approvals from federal agencies.On Thursday, Trump directed his administration to help sharply expand the number of commercial space launches in the US. SpaceX is a dominant player in the sector.The White House said Trump does not personally control his investments. Spokesman Davis Ingle told Reuters that third-party financial institutions independently manage the president’s portfolio and replicate “recognized indexes, such as 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.The disclosure also comes amid scrutiny of other Trump administration officials’ financial ties to Musk’s companies. US Small Business Administration chief and Trump cabinet member Kelly Loeffler earned millions from SpaceX’s IPO, Reuters previously reported.Loeffler initially invested in xAI, Musk’s AI and social media company that later merged with SpaceX. She made a second investment after Trump nominated her to lead the SBA.According to PitchBook analyst Franco Granda, Loeffler’s first xAI investment could have been worth between $7 million and $2.6 billion on the IPO date, depending on the amount and timing of the investment. Her second investment could have been worth between $2.2 million and $25.4 million.Get the latest Business News and Live updates. Download the TOI app.