Trump Bought SpaceX Shares Two Weeks After Blockbuster IPO
· World · TechCrunch
President Donald Trump purchased up to $50,000 worth of SpaceX shares on June 23, according to a financial disclosure first reported by Reuters. The transaction occurred two weeks after the record-setting initial public offering of Elon Musk's space company. SpaceX shares were trading in the mid-$150 range on June 23 after falling from previous highs of over $200. By the end of trading on Monday, shares closed at the IPO price of $135, which could place the president's stake underwater. White House spokesman Davis Ingle stated that the president's stock portfolio is managed by third-party financial institutions and replicates recognized indexes such as the Schwab 1000.
Why it matters
The investment links the US president directly to a major federal contractor benefiting from the administration's deregulatory stance amid a close relationship with Elon Musk.
Read the original report — TechCrunch
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.