White House on Trump purchasing SpaceX debt before space order: ‘No conflicts of interest’

The White House said Friday there was no conflict of interest when President Trump’s accounts bought more than $1 million in SpaceX debt two days before he signed an executive order on space transportation policy.

The president’s financial disclosure for August, published Thursday , shows Trump’s accounts purchased between $1 million and $5 million in senior unsecured notes from Elon Musk’s aerospace and connectivity firm, Space Exploration Technologies Corp., on Aug. 18.

On Aug. 20, Trump signed a presidential memorandum to “reinvigorate America’s leadership in space transportation,” and allow for more than 1,000 launches and reentries on American land each year by 2030.

When asked about the purchase, White House spokesperson Davis Ingle said “Trump’s stock and bond portfolio is independently managed by third-party financial institutions.”

“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 continued. “All investment decisions are made entirely by independent managers. There are no conflicts of interest.”

It is not clear who or what institution made the decision to purchase the SpaceX debt.

Trump has faced scrutiny in both of his White House terms for the blurring between his administration and family’s businesses. Trump’s investments and business assets are held in a trust managed by his children rather than divesting assets or placing them in a blind trust.

“All holdings are maintained in discretionary accounts and invested through computer-based model portfolios that automatically replicate recognized indexes, such as the Schwab 1000,” Ingle said.

More than 500 securities transactions were listed in the latest disclosure, including the purchase of Meta Platforms’ stock for between $5 and $25 million. A CNBC analysis of the August disclosure estimated the total purchases and sales listed were between $74.3 million and $273.3 million.

Musk’s SpaceX dominates the commercial space sector and has reportedly launched more satellites than the rest of humanity combined. Earlier this week, Trump awarded Musk and other tech executives the National Medal of Science at the White House’s “Science: A New Golden Age” summit.

Musk, who briefly worked as an adviser for Trump at the start of his second term, played a large role in the president’s 2024 reelection campaign. The tech billionaire was the president’s largest individual donor for his 2024 campaign.

Despite an explosive public feud last year, Trump and Musk have since mended fences publicly , with the tech executive appearing with the president at various events this year.