President Trump Discloses Purchase of SpaceX Shares

President Donald Trump bought as much as $50,000 worth of SpaceX shares on June 23, according to a financial disclosure first reported by Reuters, two weeks after the record-setting IPO of Elon Musk’s company.

It’s not clear what price Trump paid for the shares, but by that point they had fallen from their highs of over $200. SpaceX shares were trading in the mid-$150 range on June 23. At the end of trading on Monday, shares closed at the IPO price of $135, possibly putting the president’s stake underwater.

Trump and Musk are close, despite a brief falling out last summer that involved the businessman accusing the president of withholding the Department of Justice’s files on Jeffrey Epstein because of how often Trump’s name appears in them. SpaceX has been hoovering up an increasing amount of government contracts and benefiting from the Trump administration’s deregulatory stance, according to a recent Wall Street Journal analysis.