President Donald Trump invested as much as $50,000 in SpaceX in June, according to a public financial disclosure signed by him on August 12 and made public on August 22, giving him a financial stake in a major government contractor run by his former adviser, Elon Musk.

The Details of the Purchase

Trump bought between $15,001 and $50,000 in SpaceX shares on June 23, according to the disclosure — roughly two weeks after SpaceX's record-setting initial public offering. Reuters noted it could not immediately determine the precise amount of the investment, since federal officials use broad ranges rather than exact figures to declare asset values on financial disclosure forms. The purchase was just one of more than 1,000 stock trades the president made during the month of June.

A Purchase That May Already Be Underwater

SpaceX priced the biggest-ever US IPO on June 12, valuing the space, satellite, and AI provider at $1.77 trillion. By the time of Trump's June 23 purchase, however, the stock had already pulled back from highs above $200 and was trading in the mid-$150 range. Shares have since declined roughly 40% from their peak, closing Monday at the $135 IPO price — meaning the president's position may currently be worth less than what he paid for it. SpaceX stock dipped about 1% in afternoon trading on August 24 following news of the disclosure.

The White House's Response

White House spokesman Davis Ingle told Reuters that third-party financial institutions independently manage the president's portfolio and replicate "recognized indexes, such as 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 a statement.

Why the Purchase Raises Eyebrows

SpaceX is a US military contractor that frequently seeks approvals from federal agencies, creating a direct financial link between the sitting president and a company whose business depends significantly on government decisions. That link is compounded by the fact that SpaceX's CEO, Elon Musk, previously served as one of Trump's closest advisers. The timing is also notable: on the same day the disclosure became public, Trump directed his team to help drastically increase the number of US commercial space launches — a policy area where SpaceX is the dominant industry player and stands to benefit directly from expanded federal support.

Not the Only Administration Figure to Profit

Trump isn't the only administration official who has benefited financially from SpaceX's rise. Reuters previously reported that Kelly Loeffler, head of the US Small Business Administration and a Trump cabinet member, earned millions from SpaceX's IPO. Loeffler first invested in xAI, Musk's AI and social media company that has since merged with SpaceX, and invested again after Trump nominated her to lead the SBA. According to PitchBook analyst Franco Granda, her first xAI investment would have been worth between $7 million and $2.6 billion on the day of the IPO, depending on the exact amount and timing of her investment, while her second investment would have been worth between $2.2 million and $25.4 million.

The Musk-Trump Relationship

Trump and Musk remain close despite a brief, high-profile falling-out last summer, which involved Musk accusing the president of withholding Department of Justice files related to Jeffrey Epstein because of how frequently Trump's name appears in them — a rupture that was later smoothed over as the two men resumed their public alliance.

Market Context

Wall Street analysts currently maintain a "Moderate Buy" consensus rating on SpaceX stock, with an average price target of $232.35 — well above the current trading level, suggesting analysts broadly expect the stock to recover from its post-IPO decline over time, even as it currently sits well below both its peak and its most bullish forecasts.

What's Next

With the disclosure now public and drawing scrutiny over potential conflicts of interest given SpaceX's status as a major federal contractor, the purchase is likely to remain a point of attention as Trump continues pushing policy initiatives — like the newly directed expansion of commercial space launches — that could directly benefit a company he now holds a financial stake in. For continuing coverage, see the full Reuters report.