Trump Buys SpaceX Bonds Before New Space Policy Announcement

President Donald Trump disclosed purchases of up to $5 million in SpaceX bonds in August, two days before his administration announced a policy to expand US commercial space transportation, according to financial disclosure records reviewed by CNN, CNBC and finance.yahoo.com.

The filings show Trump reported 517 securities transactions in August, with purchases and sales totaling roughly $74.3 million to $273.3 million, according to CNBC analysis. The disclosure also included up to $25 million in Meta shares and other major corporate investments.

The SpaceX investment involved senior unsecured bonds purchased on August 18, valued between $1 million and $5 million, with a 5.35% interest rate and maturity in July 2031, according to the filings. The White House announced a national space transportation memorandum on August 20 aimed at supporting more than 1,000 launches and reentries annually by 2030.

SpaceX is a major Pentagon contractor and NASA launch provider, and the new policy directs agencies to support commercial access to federal launch facilities and private investment in space infrastructure, according to CNBC and finance.yahoo.com.

"There is a conflict of interest. I’m not saying he’s doing anything illegal, but this really gives the appearance of corruption," said Richard Painter, former White House ethics lawyer under President George W. Bush and University of Minnesota Law School professor.

Painter said the purchase would raise concerns because SpaceX could benefit from government policies affecting commercial space activity. He also discussed how he would have advised a former president facing a similar situation.

"No effing way. Don’t buy the bonds. Don’t do that," said Richard Painter, former White House ethics lawyer under President George W. Bush.

The White House said Trump does not control investment decisions involving his portfolio. Spokesperson Davis Ingle said the accounts are managed by independent financial institutions through discretionary arrangements.

"President Trump’s stock and bond portfolio is independently managed by third-party financial institutions," said Davis Ingle, White House spokesperson.

Ingle said the investments are handled through automated model portfolios and that Trump and his family cannot influence transactions.

"All holdings are maintained in discretionary accounts and invested through computer-based model portfolios that automatically replicate recognized indexes, such as the Schwab 1000," said Davis Ingle, White House spokesperson.

"Any member of his family has no ability to direct, influence or provide input regarding how the portfolio is invested or when investments are bought or sold," said Davis Ingle, White House spokesperson.

"All investment decisions are made entirely by independent managers. There are no conflicts of interest," said Davis Ingle, White House spokesperson.

Senator Elizabeth Warren criticized the transactions, arguing that presidential investments can create ethical concerns even when managed through outside firms.

"Rather than bringing down the cost of gas and groceries, President Trump is using his office to enrich himself. That’s corruption, plain and simple," said Elizabeth Warren, Massachusetts senator.

"It’s long past time for Congress to act and ban stock ownership and trading by members of Congress and the president," said Elizabeth Warren, Massachusetts senator.