Donald Trump bought up to $50,000 worth SpaceX shares in June, financial disclosure shows
US President Donald Trump invested up to fifty thousand dollars in Elon Musk's SpaceX company. This investment occurred on June twenty-third, following the company's initial public offering. Third-party institutions manage the president's investm...
By ETMarkets.com | Updated:
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U.S. President Donald Trump purchased up to $50,000 in Elon Musk's SpaceX during June, according to a public financial disclosure reported by Reuters.
The filing, signed on August 12 and made public on August 22, shows Trump bought between $15,001 and $50,000 in shares on June 23 as part of more than 1,000 stock trades conducted that month.
(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
The investment follows SpaceX’s record-breaking initial public offering on June 12.
Also Read: Dow Jones| Nasdaq | S&P 500 | US Stock Market Today | Live Updates: S&P 500, Nasdaq slip as Iran tensions test markets in high-stakes week
White House spokesman Davis Ingle stated that third-party financial institutions independently manage the president's portfolio to mirror indexes like 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 in the statement.
Nevertheless, the purchase adds a financial link between the president and Musk's rocket company while the administration handles key decisions impacting the sector.
As a major military contractor, SpaceX frequently seeks regulatory approval from federal agencies.
The new financial tie comes just as Trump instructed his team on Thursday to push for a significant expansion in U.S. commercial space launches, a domain where SpaceX remains the dominant player.
The exact value of the investment stays unclear, as federal financial disclosures only require officials to report assets within broad value ranges.
(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
The filing, signed on August 12 and made public on August 22, shows Trump bought between $15,001 and $50,000 in shares on June 23 as part of more than 1,000 stock trades conducted that month.
(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
The investment follows SpaceX’s record-breaking initial public offering on June 12.
Also Read: Dow Jones| Nasdaq | S&P 500 | US Stock Market Today | Live Updates: S&P 500, Nasdaq slip as Iran tensions test markets in high-stakes week
White House spokesman Davis Ingle stated that third-party financial institutions independently manage the president's portfolio to mirror indexes like the Schwab 1000.
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"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 in the statement.
Nevertheless, the purchase adds a financial link between the president and Musk's rocket company while the administration handles key decisions impacting the sector.
As a major military contractor, SpaceX frequently seeks regulatory approval from federal agencies.
The new financial tie comes just as Trump instructed his team on Thursday to push for a significant expansion in U.S. commercial space launches, a domain where SpaceX remains the dominant player.
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The exact value of the investment stays unclear, as federal financial disclosures only require officials to report assets within broad value ranges.
(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
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