{"id":72504,"date":"2026-06-13T04:33:11","date_gmt":"2026-06-13T04:33:11","guid":{"rendered":"https:\/\/www.europesays.com\/ai\/72504\/"},"modified":"2026-06-13T04:33:11","modified_gmt":"2026-06-13T04:33:11","slug":"trump-allies-held-millions-in-spacex-and-xai-stakes-before-spacex-ipo","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ai\/72504\/","title":{"rendered":"Trump Allies Held Millions in SpaceX and xAI Stakes Before SpaceX IPO"},"content":{"rendered":"\n

Elon Musk\u2019s MAGA pals won big after his space exploration company went public in a record-breaking IPO.<\/p>\n

SpaceX began trading under the ticker SPCX on Friday after Musk and COO Gwynne Shotwell rang the opening bell from Starbase in Texas and the Nasdaq MarketSite in New York.<\/p>\n

The rocket company is selling 555.6 million shares at $135 a pop, making its IPO the largest on record at a staggering $75 billion. Investors quickly hopped on the bandwagon, sending SpaceX\u2019s valuation soaring past $2 trillion.<\/p>\n

The world\u2019s richest man and President Donald Trump\u2019s onetime bestie, 54, founded SpaceX in 2002. Musk is now the world\u2019s first trillionaire, with his net worth surpassing $1.1 trillion following the launch of the IPO.<\/p>\n

\"Photo Photo Illustration by Thomas Levinson\/The Daily Beast\/Getty\/Reuters <\/p>\n

Over the years, it has amassed a who\u2019s who of MAGA investors, from Donald Trump Jr. to the president\u2019s handpicked head of the Small Business Administration, Kelly Loeffler.<\/p>\n

At least 10 Trump administration officials reported financial interests in SpaceX or xAI, Musk\u2019s artificial intelligence and social media firm that merged with it, according to public financial disclosures analyzed by Bloomberg<\/a>.<\/p>\n

In total, the federal staffers held SpaceX or xAI stock worth $9.9 million to $43.8 million, though they could have sold part or all of their holdings since making their disclosures last year.<\/p>\n

Steve Witkoff \"U.S. U.S. Special Envoy Steve Witkoff \/ Evelyn Hockstein\/Reuters <\/p>\n

Steve Witkoff disclosed assets of $1 million to $5 million in 3G Investors LLC, whose only reported holding was SpaceX, reports Bloomberg. Witkoff is one-half of the president\u2019s makeshift peacemaking duo along with Trump\u2019s son-in-law, Jared Kushner.<\/p>\n

Kelly Loeffler \"U.S. U.S. Administrator of the Small Business Administration Kelly Loeffler \/ Jason Ardan\/The Citizens’ Voice via Getty Images <\/p>\n

Kelly Loeffler, a former senator and the current administrator of the Small Business Administration, disclosed an xAI investment worth between $1 million and $5 million, according to Bloomberg.<\/p>\n

Michael Lynch <\/p>\n

Michael Lynch, a former SpaceX employee who has since become deputy administrator of the General Services Administration, held investments in SpaceX between $500,000 and $1 million, according to filings.<\/p>\n

Donald Trump Jr. \"Donald Donald Trump Jr. \/ POOL \/ via REUTERS <\/p>\n

The president\u2019s eldest son holds SpaceX shares through 1789 Capital<\/a>, a venture capital firm that focuses on \u201cpatriotic capitalism\u201d by \u201cfunding the next chapter of American exceptionalism.\u201d<\/p>\n

Joshua Kushner \"Joshua Joshua Kushner is the brother of Jared, the president’s son-in-law. \/ Getty Images <\/p>\n

Joshua Kushner, the brother of Trump\u2019s son-in-law, Jared, also owns SpaceX shares through his venture capital firm Thrive Capital.<\/p>\n

Betsy DeVos \"Former Former education secretary Betsy DeVos \/ REUTERS <\/p>\n

Betsy DeVos, Trump\u2019s education secretary in his first term, purchased SpaceX shares through a middleman.<\/p>\n

Anthony Scaramucci \"Former Former White House communications director Anthony Scaramucci. \/ Jim Watson\/Getty Images <\/p>\n

Anthony Scaramucci, who had an infamously short-lived stint as Trump\u2019s White House communications director in 2017, previously announced in a social media post that he participated in a private funding round for SpaceX.<\/p>\n

\u201cThe cult of personality around Elon Musk gives his companies an excessive premium that is off the charts,\u201d he wrote in April<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Elon Musk\u2019s MAGA pals won big after his space exploration company went public in a record-breaking IPO. SpaceX…\n","protected":false},"author":2,"featured_media":72505,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[625,40034,140,40035,7600,40033,20827,658,2899],"class_list":["post-72504","post","type-post","status-publish","format-standard","has-post-thumbnail","category-xai","tag-donald-trump","tag-donald-trump-jr","tag-elon-musk","tag-gwynne-shotwell","tag-jared-kushner","tag-kelly-loeffler","tag-small-business-administration","tag-spacex","tag-xai"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/72504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=72504"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/72504\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/72505"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=72504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=72504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=72504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}