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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<\/a>, two weeks after the record-setting IPO of Elon Musk\u2019s company.<\/p>\n It\u2019s 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\u2019s stake underwater.<\/p>\n 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\u2019s files<\/a> on Jeffrey Epstein because of how often Trump\u2019s name appears in them. SpaceX has been hoovering up an increasing amount of government contracts<\/a> and benefiting from the Trump administration\u2019s deregulatory stance, according to a recent Wall Street Journal analysis.<\/p>\n White House spokesman Davis Ingle told Reuters that the president\u2019s stock portfolio is managed by third-party financial institutions and replicate \u201crecognized indexes, such as the Schwab \u200b1000.\u201d SpaceX lobbied popular indexes to change their rules to allow for faster inclusion ahead of its IPO<\/a>, which means many people likely own some of the company\u2019s stock even if they don\u2019t know it<\/a>.<\/p>\n<\/div>\n