Trump bought some SpaceX shares in June

Investing.com -- President Donald Trump purchased between $15,001 and $50,000 in SpaceX shares on June 23, according to a financial disclosure signed on August 12 and released on Friday. The transaction was among more than 1,000 stock trades made by the president in June.

SpaceX completed its initial public offering on June 12, breaking IPO records.

White House spokesman Davis Ingle told Reuters that third-party financial institutions independently manage the president's portfolio and replicate "recognized indexes, such as the Schwab 1000."

"Neither President Trump nor any member of his family has any ability to direct, influence, or provide input regarding how the portfolio is invested or when investments are bought or sold," Ingle said.

The investment creates a financial connection between Trump and the rocket company led by Elon Musk, who previously served as a presidential adviser. SpaceX operates as a U.S. military contractor and regularly seeks federal agency approvals.

On Thursday, Trump instructed his team to help increase the number of U.S. commercial space launches. SpaceX holds a leading position in the commercial space launch sector.

Federal disclosure rules require officials to report asset values in ranges rather than exact amounts.

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