SpaceX’s IPO Could Make Some Trump Administration Officials Even Richer
SpaceX's upcoming IPO is set to significantly benefit several Trump administration officials who hold substantial stakes in the company. These officials collectively own assets valued between $9.9 million and $43.8 million linked to SpaceX and its AI subsidiary, xAI. The IPO, anticipated to be the largest in history, could further intertwine Musk's business interests with political connections.
- ▪Ten Trump administration officials disclosed holdings in SpaceX and xAI worth between $9.9 million and $43.8 million.
- ▪SpaceX's IPO is expected to take place as soon as June 12, with shares priced at $135 each, aiming for a valuation of roughly $1.75 trillion.
- ▪Paul McInerny, a Department of the Interior official, reported a stake valued between $5 million and $25 million and received an ethics waiver to retain his investment.
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Elon Musk isn’t the only person set to get richer when SpaceX goes public next week. According to a Bloomberg report, 10 Trump administration officials disclosed holding millions of dollars in stakes in SpaceX and xAI, Musk’s artificial intelligence company that SpaceX acquired earlier this year. Together, the officials held between $9.9 million and $43.8 million in assets tied to the two companies, according to their most recent public financial…
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