President Donald Trump on Thursday disclosed that his investment accounts bought between $1 million and $5 million of Space Exploration Technologies Corp. (NASDAQ:SPCX) senior unsecured notes on Aug. 18, two days before he signed a new national space transportation policy to expand U.S. launch capacity.

Trump Policy Targets Massive Launch Expansion

The Aug. 20 memorandum directs federal agencies to support more than 1,000 launches and reentries annually by 2030, expand commercial access to federal ranges, speed permitting and environmental reviews, and encourage private investment in launch infrastructure. The administration has also pushed the FAA to streamline commercial-launch rules, potentially benefiting providers such as SpaceX.

The bond purchase was far larger than Trump's earlier SpaceX investment. In June, he bought between $15,001 and $50,000 of SpaceX shares 11 days after the company's record IPO, Reuters reported. SpaceX raised about $85.7 billion in that offering and later issued $25 billion in investment-grade notes to refinance debt and fund general corporate purposes, including AI infrastructure.

White House Says Portfolio Independently Managed

Trump's latest disclosure lists 517 transactions in August. The trust holding his assets also bought shares in Meta, Microsoft and Nvidia. The White House told CNN in a statement that third-party institutions independently manage the portfolio through discretionary accounts and computer-based model portfolios.

"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," White House spokesman Davis Ingle told Reuters in August after Trump's earlier SpaceX purchase.

SpaceX remains a major U.S. government contractor and a dominant commercial-launch provider. Trump's policy explicitly favors commercial space transportation for government needs and calls for a stronger domestic space industrial base.

SpaceX Financing Meets Renewed Musk Ties

The SpaceX debt came from the company's June bond sale, which included $7 billion of 5.35% senior notes due in 2031. The fundraising let SpaceX add capital without issuing more equity after its IPO, while supporting spending across Starlink, Starship and AI infrastructure.

The disclosure also lands as Trump and SpaceX CEO Elon Musk renew ties. Trump awarded Musk the National Medal of Science on Thursday. "Elon is our modern-day Thomas Edison," Trump said, adding, "You're my friend and all of that, but you are a very, very special guy." Musk received the award for achievements spanning space exploration, communications and intelligent systems.