Trump Buys Up to $50K Stake in SpaceX

President Trump now owns a slice of Elon Musk's rocket empire, Reuters reports. A new financial disclosure shows the president bought between $15,001 and $50,000 worth of SpaceX shares on June 23, one of more than 1,000 stock trades he made that month. The purchase gives him a personal stake in a major federal contractor as his administration weighs policies affecting commercial launches, where SpaceX is a key player.

The company, valued at $1.77 trillion after its June 12 IPO, regularly seeks Pentagon work and regulatory approvals. A White House spokesman said Trump's portfolio is handled by outside managers mirroring broad indexes and that neither he nor his family can influence specific investments. The filing follows earlier revelations that Small Business Administration chief Kelly Loeffler made millions from investments tied to Musk's ventures.

TechCrunch reports that while it's not clear what price Trump paid for the shares, they had fallen from their peak of more than $200 by the time he purchased them. Per Benzinga, the financial disclosure also showed investments in Berkshire Hathaway, Visa, Mastercard, and Cintas.