U.S. President Donald Trump invested as much as $50,000 in Elon Musk's SpaceX in June, ​according to a public financial disclosure, giving him a financial stake in a ‌major government contractor run by his former adviser.

He bought between $15,001 and $50,000 worth of shares on June 23, according to a financial disclosure he signed on August 12, which was made public on August 22.

The ​purchase was part of more than 1,000 stock trades the president made in June.

SpaceX priced ​the biggest-ever U.S. IPO on June 12, valuing the space, satellite and ⁠AI provider at $1.77 trillion.

In a statement to Reuters, White House spokesman Davis Ingle said that ​third-party financial institutions independently manage the president's portfolio and replicate "recognised indexes, such as the Schwab ​1000."

"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," Ingle said in the ​statement.

Trump's investment in SpaceX adds a new financial link between the president and Musk's rocket ​company at a time when the administration is making decisions that could affect the firm's fortunes.

SpaceX is ‌a ⁠U.S. military contractor, and often seeks approvals from federal agencies. Trump on Thursday directed his team to help drastically increase the number of U.S. commercial space launches. SpaceX is a dominant player in that sector.

U.S. Small Business Administration leader and Trump cabinet member Kelly Loeffler earned millions from SpaceX's ​IPO, Reuters previously reported. Loeffler ​first invested in xAI, ⁠Musk’s AI and social media firm that has since merged with SpaceX. She invested again after Trump nominated her to lead the SBA.

Her ​first investment in xAI would have been worth between $7 million and $2.6 billion ​on the ⁠day of the IPO, depending on the exact amount she invested and the date she made it, said Franco Granda, analyst at data provider PitchBook.

The second investment would have been worth ⁠between $2.2 ​million and $25.4 million that day, he said.

Reuters could not ​immediately determine the precise amount of Trump's investment because federal officials use ranges to declare the value of their ​assets on their financial disclosure forms.