Trump buys up to $50,000 of SpaceX shares two weeks after record IPO
Financial disclosures reveal the US President acquired SpaceX stock while it traded in the mid-$150 range, a move that may now be underwater as shares revert to their IPO price.
President Donald Trump purchased up to $50,000 worth of SpaceX shares on 23 June, just two weeks after the company completed its record-setting initial public offering. The acquisition was revealed in a financial disclosure first reported by Reuters, highlighting a direct financial link between the US administration and Elon Musk’s aerospace firm.
At the time of the purchase, SpaceX shares were trading in the mid-$150 range. This represented a significant pullback from the stock’s earlier highs, which had exceeded $200 in the immediate aftermath of the listing. The exact price paid by the President for the shares remains unclear, though the timing suggests an entry point well above the original offering price.
The investment’s current value is uncertain as SpaceX shares closed at the IPO price of $135 on Monday. This reversion to the listing price potentially places the President’s stake underwater, depending on the specific entry price achieved during the 23 June transaction.
The White House has sought to contextualise the purchase by noting that the President’s stock portfolio is managed by third-party financial institutions. Spokesman Davis Ingle told Reuters that these institutions replicate recognised indexes, such as the Schwab 1000. This structure implies the purchase may have been driven by index inclusion rather than a discretionary decision by the President.
This mechanism is particularly relevant given that SpaceX lobbied popular indexes to change their rules to allow for faster inclusion ahead of its IPO. Consequently, many investors likely hold SpaceX stock through index funds without direct knowledge of the specific company, blurring the lines between active and passive investment.
The disclosure arrives amid broader scrutiny of the relationship between the Trump administration and SpaceX. A recent analysis by the Wall Street Journal suggests the company has been acquiring an increasing volume of government contracts while benefiting from the administration’s deregulatory stance.
Despite the financial ties, Trump and Musk have maintained a close relationship, although they experienced a brief falling out last summer. The dispute centred on Musk’s accusation that the President was withholding Department of Justice files on Jeffrey Epstein due to the frequency of Trump’s name appearing in the documents.
