Abstract:
According to Reuters, a public financial disclosure document showed that U.S. President Trump bought up to $50,000 in SpaceX shares and sold up to $15,000 in SpaceX shares in July. It's the latest deal between Trump and the government contractor owned by his former adviser Musk.
Documents show that
Trump bought $15,001 to $50,000 worth of SpaceX stock on July 10 and sold $1,001 to $15,000 worth of stock on July 17
. The disclosure document was signed by Trump on September 8 and the Office of Government Ethics, the agency responsible for collecting ethics disclosure information from U.S. officials, posted the form on its website on Tuesday.Reuters stated that the above-mentioned transaction adds a new financial link between the president and Musk’s rocket company at a time when the U.S. government is making decisions that may affect the company’s prospects.
SpaceX priced its largest IPO in U.S. history on June 12, valuing the space, satellite and artificial intelligence services provider at $1.77 trillion. Reuters previously reported that Trump bought SpaceX shares in June.
Between July 10 and July 17, when Trump made the above transaction, SpaceX stock price fell by 15%.
White House spokesman Davis Ingle said in a statement to Reuters at the time that third-party financial institutions independently manage the president's investment portfolio and replicate "recognized indices" such as the "Schwab 1000" (Schwab 1000). A spokesman for Trump did not immediately respond to a request for comment on the July deal.
The buys and sells were part of more than 1,000 trades Trump made in July. Reuters said it could not immediately determine the exact amount of Trump's investment because federal officials use ranges to declare asset values on financial disclosure forms.
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