10 Trump Administration Officials Disclose SpaceX Holdings Worth Up to $43.8 Million
Taylor Wilson
Ten federal officials hold SpaceX or xAI stakes worth up to $43.8 million — just as SpaceX prepares what could be the largest IPO in history, targeting a $1.8 trillion valuation. The overlap puts government conflicts of interest squarely in view.
Who holds how much?
The largest disclosed stake belongs to Interior Department CIO Paul McInerny: SpaceX holdings valued at $5 million to $25 million. He is a former SpaceX engineer who joined government through Musk's Department of Government Efficiency (DOGE).
Envoy Steve Witkoff holds SpaceX exposure worth $1–5 million through 3G Investors LLC. He has led peace negotiations on Ukraine, Gaza, and Iran.
Small Business Administration head Kelly Loeffler disclosed $1–5 million in xAI, held through a Valor Equity Partners fund. Valor's founder, Antonio Gracias, is a longtime Musk associate.
Why are these figures just ranges?
Federal financial disclosures list asset values in broad brackets, not exact amounts. This means → the true combined value for all ten officials falls somewhere between $9.9 million and $43.8 million.
The filings were submitted last year. Officials may have sold some or all holdings since — but private-company stock sales do not trigger additional disclosure.
A new round of filings was submitted in May and is expected to go public by mid-June — only then will updated positions be visible.
How big is the SpaceX IPO?
SpaceX's IPO could come as early as next week, targeting a valuation of at least $1.8 trillion and seeking up to $75 billion in capital. In plain terms = it would be the largest public offering ever.
A successful listing could sharply inflate the paper wealth of officials who still hold shares — and that is the core of the conflict-of-interest debate.
How deep are SpaceX's government ties?
SpaceX secured $4 billion in federal deals in fiscal year 2025.
Last month it won two U.S. Space Force contracts worth a combined $6.5 billion, covering communications satellites and airborne-threat monitoring. This means → SpaceX is not just a commercial space company — it is one of the federal government's most important contractors.
How are the conflicts being handled?
McInerny received an ethics waiver allowing him to work on matters that could affect SpaceX. Interior says he will recuse himself from issues touching his personal financial interests. In plain terms = the waiver lets him oversee related work, but he must step back when his own money is directly at stake.
Fed Chair nominee Kevin Warsh has said he will sell his SpaceX exposure, held through the Duquesne family office, before taking office — the only official so far to commit publicly to a full exit.
Why do ethics lawyers say this time is different?
Government ethics attorneys say the SpaceX IPO is unusual beyond its sheer size. This reflects a rare intersection: the largest IPO in history is led by a close presidential ally whose DOGE work touches virtually every federal agency.
In plain terms = the issue is not one official holding one stock. Musk simultaneously plays government adviser and regulated-company CEO, while officials with stakes in his ventures are scattered across multiple departments — a web of conflicts far more complex than any single case.
Content is for reference only, not financial advice.