President 
Donald Trump bought between $15,001 and $50,000 in shares of 
Elon Musk's SpaceX on June 23, his public financial disclosure shows. The purchase gives the president a financial stake in a major government contractor run by his former adviser, CNA reported.
What does the disclosure show? Trump signed the form on August 12, and it was made public on August 22. The SpaceX purchase was one of more than 1,000 stock trades the president made in June. SpaceX had priced the biggest-ever U.S. IPO on June 12, valuing the space, satellite and AI provider at $1.77 trillion. The precise size of the stake could not immediately be determined because federal officials use ranges to declare the value of their assets on disclosure forms, CNA reported.
What did the White House say? White House spokesman Davis Ingle told Reuters in a statement 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.
What business does SpaceX do with the government? The investment adds a new financial link between the president and Musk's rocket company at a time when the administration is making decisions that could affect the firm's fortunes, CNA reported. SpaceX is a U.S. military contractor and often seeks approvals from federal agencies. On Thursday, Trump directed his team to help drastically increase the number of U.S. commercial space launches, a sector in which SpaceX is a dominant player.
What other administration ties to SpaceX have been reported? Small Business Administration leader Kelly Loeffler, a member of the Trump cabinet, earned millions from SpaceX's IPO, Reuters previously reported. Loeffler first invested in xAI, Musk's AI and social media firm that has since merged with SpaceX, and invested again after Trump nominated her to lead the SBA. Her first xAI investment would have been worth between $7 million and $2.6 billion on the day of the IPO, depending on the amount and timing, said Franco Granda, an analyst at data provider PitchBook, who put the second at between $2.2 million and $25.4 million.
Figures referenced: Donald Trump, Elon Musk. — JudgeMarket.
