President Trump bought up to $50,000 worth of shares in Elon Musk's space company SpaceX in July and later sold part of the stake, according to a publicly released financial disclosure report. According to the disclosure report Trump signed on September 8, he purchased between $15,001 and $50,000 worth of SpaceX shares on July 10, and sold between $1,001 and $15,000 worth on July 17 of the same month. The transactions create a new financial link between President Trump and SpaceX at a time when his administration is making decisions that could affect the company's business. SpaceX is a major contractor for the U.S. military and frequently needs approvals and authorizations from federal agencies for its operations. SpaceX listed on the Nasdaq on June 12, and its first-day close was about 19 percent above its initial public offering price of $135, giving it a market value of about $2.1 trillion.
Space Exploration Technologies Corp. Class A Common StockTrump's disclosure of buying and selling a small SpaceX stake creates a financial link amid federal decisions affecting the company, but no clear directional impact.
