Trump Acquires SpaceX Shares Just Two Weeks After Groundbreaking IPO
President Donald Trump recently revealed that he purchased up to $50,000 in SpaceX shares on June 23, shortly after the company’s record-setting initial public offering (IPO). This information was disclosed in a financial report first reported by Reuters. At the time of the purchase, SpaceX shares had dropped from their peak of over $200 and were trading around the mid-$150 range. Following the trading day on which Trump made his purchase, SpaceX shares closed at their IPO price of $135, potentially leaving Trump’s investment in a precarious position.
Despite previous tensions between Trump and Elon Musk, which arose over allegations regarding the handling of Department of Justice files linked to Jeffrey Epstein, the two have maintained a working relationship. SpaceX has been securing numerous government contracts and has benefitted from the regulatory climate favorable to business created during the Trump administration.
White House spokesperson Davis Ingle clarified that the president’s investment portfolio is managed by external financial institutions and mirrored recognized market indexes, such as the Schwab 1000. Additionally, as SpaceX lobbied for faster inclusion in popular indexes prior to its IPO, it is likely that many investors inadvertently own shares of the company through their index funds, even if they are unaware of it.
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