U.S. President Donald Trump purchased between $15,001 and $50,000 worth of SpaceX shares on June 23, according to his financial disclosure. Reuters reports, UNN writes.
Details
Trump signed the disclosure on August 12, and it was made public on August 22. The purchase of SpaceX shares was one of more than 1,000 stock transactions the president carried out in June.
On June 12, SpaceX held an initial public offering of shares on the Nasdaq stock exchange, making it the largest IPO in U.S. history. Following the offering, the company, which operates in the fields of space services, satellites, and artificial intelligence, was valued at $1.77 trillion.
Trump's investments and SpaceX
The White House said that the president's investment portfolio is managed independently by outside financial institutions.
Neither President Trump nor any member of his family has any ability to manage or influence the portfolio, or provide information regarding how it is invested or when investments are bought or sold
SpaceX is a U.S. military contractor and regularly interacts with federal agencies. On August 20, Trump instructed his administration to help sharply increase the number of commercial space launches in the United States, where SpaceX holds a leading position.
Reuters previously reported that the head of the U.S. Small Business Administration and Trump's Cabinet member, Kelly Loeffler, also made a substantial profit from the SpaceX IPO. She had previously invested in Elon Musk's xAI, which later merged with SpaceX, and after Loeffler was nominated to head the SBA, she invested in the company again.
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