r/technology • u/esporx • 12d ago
Business Trump purchased up to $5 million of SpaceX bonds days before major space order
https://www.cnn.com/2026/10/08/investing/trump-5-million-dollars-spacex-bonds2.3k
u/AcanthisittaNo6653 12d ago
Notice he didn’t buy stock, he bought bonds. He wants to be first in line to get his money back when spacex goes bust.
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u/Jesus_Is_My_Gardener 12d ago
And to be clear, it's not the rocket or internet side of the company I'm concerned about. While rocket design and testing costs a ton when developing a new platform, especially those based entirely around new technologies, build processes and even fundamentals of rocket launch systems, they've made great progress over a relatively short time period for a private company that will likely make a huge impact in the cost of getting payloads to orbit. Obviously he has long understated/misrepresented how long it would take to get the platform out of development, but that's kinda been par for the course with him for everything and to be expected.
Where I have real concerns is his insistence to put the burden on a company like SpaceX that has real value prospects for the future with a XAI, another property if his that not only has a massive pile of its own debt, but burns through cash as if it was what they were fueling his rockets with. I think it's ultimately a shell game where he is hiding the massive debt he's been building up by burying it into the few viable prospects he has, then bringing that to market with his massively overinflated IPO to then get chumps and people's retirement accounts to pay that debt off.
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u/NWHipHop 12d ago
It's good for him that he was able to gain access to government data through his DOGE program and purge the institutions that were looking into any of his wrong doings.
Nice to have friends in high places. The president of the United States once said "when you're famous they let you do anything. Grab em by the pussy!"
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u/TimSylvester_ 12d ago
Musk said "if Trump doesn't get elected, I'll probably spend the rest of my life in prison". Because that's the kind of thing innocent people worry about, isn't it?
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u/HyruleSmash855 12d ago
Same worry’s xAI isn’t even a leading company with Grok. Grok 4.7 is behind OpenAI and Anthropic while he’s burning tons of money on it.
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u/TimSylvester_ 12d ago
And just blew $60 billion to buy Cursor, just so he had a captive audience he could force to use an AI that nobody is impressed by, which immediately screwed up Cursor so bad that its users are fleeing for anything that doesn't have the stench of Musk dripping from it.
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u/thatwasntababyruth 12d ago
Remember when everyone thought Musk was an idiot for spending $44B on Twitter?
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u/TimSylvester_ 12d ago
Heck I remember the good ol days when Musk invested $6m in Tesla then insisted on being called a founder, and sued the original founders, then forced them out, then started claiming he'd have full self driving "next year" (about 15 years ago or so, now).
And before that, when Peter Thiel hired Elon Musk to be CEO of Paypal, and Musk immediately had Paypal buy "x.com" from him, (which Musk bought because he's a stunted teenager who thinks "x" is cool), to try to rename Paypal to "x" (sound similar?), and had to be removed because everyone hated him and he was screwing up Paypal.
Elon being a dipshit goes way back.
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u/Lacasax 12d ago
That's not at all what happened. X.com was one of the two companies that merged and eventually became PayPal. Musk became CEO of the new company. Then, he was quickly replaced by Thiel because he sucked ass as CEO. The name was changed from X.com to PayPal not long after.
Elon Musk is and has always been a sack of shit, but we don't need to make up stories about it. Real life has given us plenty of examples.
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u/GlenMerlin 12d ago
erm actually I believe the company you're referring too is xSI now :P
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u/ftgyhujikolp 11d ago
Yup, the primary concern with SpaceX isn't the rocket or satellite business. It's that 90% of it's future revenue is supposed to come from AI, where they are not leaders and there's no moat against open source open weight models you can run for 1/10th the cost.
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u/Plzbanmebrony 12d ago
I think Musk is going to delay and avoid investing any real money until the AI crash.
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u/GolfingCPA 12d ago
Your theory is that he invested in bonds of a company that will likely to go bankrupt just so that he can get his money back?
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u/AcanthisittaNo6653 12d ago
$3 million in face value on a 5.35% bond would generate $160,500/year in interest. If SPCX goes bust, creditors have priority over stock holders in a corporate bankruptcy. He'd likely get most of his money back.
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u/GolfingCPA 11d ago
Yes, but you said he wants to be first in line (actually second after secured creditors) on bonds for a company that is you and he believes would go bust.
He could just choose bonds with a similar ratings and yields for a company that he would deem less likely to go bust
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u/NoTeslaForMe 12d ago
It's crazy to me that people don't realize the contradiction between the headline and the top comment. Headline: "He had the inside track to know the company would succeed!" Comment: "That's right! He invested in preparation for the company to fail!"
Which is it? If he thought this contract would mean the company would succeed, then how would bonds be a sign that he thinks it would fail? Stock would go up when an order happened; bonds would barely budge. If "He wanted to be first in line to get his money when SpaceX went bust," he wouldn't lend to them in the first place. Bonds aren't a guarantee that you're going to be made whole when a company goes bankrupt; far from it.
Trump's doing so many horrible thing but people keep promoting theories about him that aren't even internally consistent.
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u/TransBrandi 12d ago
Personally, I think that the President shouldn't be investing at all in companies that he's making decisions for with government contracts. But I guess that's just me.
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u/swaggylonglegs46 11d ago
Anyone mind explaining why buying bonds would be his go-to? I understand bonds get first return if a company goes bankrupt, but I don’t understand the logic much more than that?
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u/GolfingCPA 11d ago
Bonds produce a more stable return and won't fluctuate as much as stocks would. People invest in both stocks and bonds to have a good asset mix in their portfolio.
The article mentions about 30M in other stock purchases so there is clearly intent to have a mix in the portfolio. The stocks would be in assets that he thinks will grow and the bonds would produce a stable return with little worry to the value. If he holds the bonds until maturity, he gets his investment back and keeps all of the interest income.
According to Google, he already has purchased Spacex stock during the IPO and sold a portion of it a month later. That really goes against OPs claim that it was specifically chosen as the company that will go bust. Those stocks would have been completely sold at a minimum.
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u/sokos 12d ago
Hey my American friends. How the fuck is this legal??
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u/Nick85er 12d ago
It's not, but because heads didn't roll after January 6th 2021, the rest of the world gets to suffer for our choices and inaction.
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u/MattinglyBaseball 12d ago
Yup, thanks to the 2/3rds of Americans that vote for him or didn’t show up to vote against him. They saw the 34 felony counts and decided it’s fine to let him not only have the Presidency but every branch of government. Now the felon gets to continue to commit felonies without any checks on his power.
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u/CankerLord 12d ago
To be fair to the morons in this country Biden didn't fix the post-COVID inflation in an unrealistic timeline so what choice did they have? I mean, they could have just watched inflation fall, as it was doing when Biden left office, but where's the reactionary feel good in that? They were mad and they needed something to be mad at and now they get to pay more which is...winning?
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u/S4Waccount 12d ago
I still want an official investigation into that election. I'm not in denial that we have enough apathetic or stupid people to let it happen, but between him and Elon both making remarks about cheating, and the weirdness of some of the results I think it's worth a second look. Plus, we obviously know he has no problem breaking the law in our faces. The real question is why WOULDN"T he have tried to cheat? We can't keep acting like both sides play the same way.
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u/tyr-- 12d ago
Let me put it this way.. We're nit even remotely confident that any, let alone both, chambers of Congress will flip these midterms, and that's AFTER all the shit he's done since getting elected for the second time. Add to that the clusterfuck that is the electoral college and you really don't need any investigation in the past election.
You're severely underestimating the power the conservative media has and the stupidity of the average voter.
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u/SquarePeg37 12d ago
Wait... That was FIVE YEARS AGO?? benjamin_button.gif
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u/reeee-irl 12d ago
Do you mean the saving_private_ryan.gif where Matt Damon ages quickly?
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u/1995LexusLS400 12d ago
I'm not American, but I can say with confidence that it's not. It's just that the people who can do something about it are choosing not to.
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u/mpbh 12d ago
It's unfortunately legal. Insider trading in the US is widely misunderstood. Legally it can only happen in a tipping environment, where someone shares material information for benefit. The other is direct insider trading which requires the trader to be a company director, executive, or >10% owner.
There's no blanket law that covers trading on non-public information like most people think.
There's no legal frameworks for politicians trading on insider information. Funny that the people who make the laws left that one out?
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u/True_Window_9389 12d ago
Before Trump, politicians, at least presidents, often had some degree of dignity and shame, and would usually separate financial transactions to remove perceptions of corruption or insider trading.
That, like so many things, was an uncodified norm that Trump busted. A huge amount of the absurdities and unethical disasters from Trump aren’t illegal per se, just him undoing decades and generations of norms that nobody dared to break before. It was thought that anyone who did would face consequences from congress, courts or voters. That’s all fallen apart as trolling became the sole purpose of the right. It’s not that Trump is corrupt, it’s that his corruption is a great way to own the libs, so they think it’s ok.
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u/S4Waccount 12d ago
That's not 100 percent true. The only reason this article isn't saying he broke the law is because they need to prove two things. He knew that purchase was coming, and he directly instructed the firm to purchase the stocks. He has set up his investments for this exact kind of situation where there is a degree of uncertainty. It's why this is considered "unethical". Anyone with half a brain knows that's the most likely/obviously what happened. He made a conscious decision to alert or pass along knowledge to buy those bonds, and did so because he knew the deal was days away. But saying that's what happened without proof is liable. We all know it's what happened and if we could prove it then we'd call this insider trading.
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u/taez555 12d ago
Something something, presidential immunity.
No worries though, we’ll all be at the annual no kings rally next weekend to complain.
Unless it rains, or there’s something good on tv.
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u/Rot-Orkan 12d ago
It's not, but Republicans are letting him get away with it.
It really is just that simple.
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u/Shoddy_Meaning_7654 12d ago
It's not I will be voting this fall and telling everyone I know to do the same because this cannot continue hell no
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u/Jesus_Is_My_Gardener 12d ago
It isn't, he just holds the most important levers of power currently and hasn't pissed off or ripped off enough of the shadow players yet that might actually do something about it. This is precisely why most of us who were paying attention from the start, watching him ride down that escalator, said he belongs nowhere near any seat of power, let alone the Presidency.
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u/adorablefuzzykitten 12d ago
Our Grifter and Chief. Imagine anyone thinking the stock market is not rigged.
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u/reddittorbrigade 12d ago
insider trading is legal now in the US if you are MAGA.
What a corrupt government.
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u/No-Adeptness-7416 12d ago
Nope, insider trading is legal if you're the President. All those other shites would get busted. The President has no ethical oversight other than removal by the Senate... that's why trump wanted the job.
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u/actuallyapossom 12d ago
If they get busted, they're also in a position to pay that President for a pardon.
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u/ChillAhriman 12d ago
Lots of both Republicans and Democrats have gotten away with insider trading for years. The Trump family is just the most obscene episode yet, but prior to Trump, Nancy Pelosi was the most serious contender for the 1st place.
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u/jd807 12d ago
But he says he’s manipulating markets for AMERICA’s benefit, not HIS ! 🤣🤣
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u/TuckerCarlsonsOhface 12d ago
When he says “America” he means himself.
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u/MikeFatz 12d ago
“When they called this The Land of the Free, I’m pretty sure they were referring to me.”
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u/3vs3BigGameHunters 11d ago
Free as in taking shit without paying for it.
Sounds a lot like stealing.
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u/invyros 12d ago
“There is a conflict of interest. I’m not saying he’s doing anything illegal, but this really gives the appearance of corruption,” Richard Painter, the top ethics lawyer under President George W. Bush
This is a very Bush lawyer way of saying, "This shit is corrupt as fuck, even for me."
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u/UnbreadedTouchdown 12d ago
Remember when Martha Stewart went to prison for avoiding $46k in stock losses?
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u/air_and_space92 11d ago
*Because she lied about it. That's why. Not the insider trading. IIRC the sales weren't illegal. Borderline maybe, but she would've been in the clear had she not made false statements during the investigation.
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u/DurianDiscriminat3r 11d ago
Ok hear me out. Imagine... imagine if Obama did this.
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u/kstargate-425 11d ago
Republicans would be outside the White House lawn burning crosses if Obama did that shit. They lost it over Obama turning the tennis court into a basketball court by simply putting up removable hoops on wheels with some sandbags but when a rich white Republican rips up the rose garden that Jackie Kennedy planted herself to put a concrete slab down or demolished the East Wing they're all good with it
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u/Agreeable_Orange7032 11d ago
Yep. They will bring up Hunter’s laptop and think that makes all this ok.
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u/Tango_D 11d ago
Honestly I think that's the whole point of allowing Trump to get away with everything. "The worst of us is still above the best of you" kind of thing.
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u/Lahm0123 12d ago
Flagrant violation of the Emoluments Clause.
More evidence for Impeachment and removal.
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u/5555 12d ago
Yea just impeach him a third time. That'll surely teach him.
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u/Lahm0123 12d ago
Impeachment is only part one.
The Senate then needs to try him and decide to remove him. That is basic stuff.
Impeachment by the House without a trial in the Senate does nothing.
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u/greenjetway 12d ago
Remember when insider trading was not ok and Martha Stuart went to jail?
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u/Here4daKicks 12d ago
Bernie Madoff wasn’t that bad of a guy. I mean, depending how you look at it, he was doing us a favor by fucking the rich
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u/BeepBotBoopBeep 12d ago
I remember when even conservatives would callout people on their side for committing illegal activities. They weren’t scared like they are today.
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u/air_and_space92 11d ago
>Remember when insider trading was not ok and Martha Stuart went to jail?
People reiterate the dumbest arguments. She went to jail not for the insider trading, but because she lied about it during the followup investigation.
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u/Prudent_Falafel_7265 12d ago
Susan Collins is concerned by this
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u/AlcibiadesTheCat 12d ago
I heard she furrowed her brow when she heard about it.
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u/penny_eater 12d ago
shes going to get as much salt from canada as possible, to make sure no one is inconvenienced by this
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u/g0dsm0k3scr4ck 12d ago
Why? I don't get it - he's old and already rich. What is the point of any of this?
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u/MrVeazey 12d ago
There's no such thing as "enough" for people like him. He's empty inside because his dad was an abusive monster, so now Donny's an abusive monster who needs to cheat, rob, and swindle like you and I need to drink water.
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u/SamTheLab_213 12d ago
It's always about power and control and never about the actual money. No one needs that kind of money. Like all criminals, they need power and money provides power. As long as they have all the money, people are forced to deal with them. People like that know no one can stand them, so they need to coerce people to interact with them.
Politicians can be bought, law enforcement can be bought, people get bought and then they do whatever the powerful demand. Kill democracy? They'll do it, after all, it's said, "everyone has a price." The greedy would sell our freedom and civil rights for the right price. As long as people worship money and have no principals, no one is truly free and we will lose what people died, fought and protested for.
No matter. If there's cash to be had, there are idiots who would do anything, even murder to get it. Really, until we grow up as a nation and get our priorities straight, you can count on everything we truly need like human rights to disappear, entirely, in a few years. Project 2025 is more than halfway completed, after all. With all the sell-outs running around, we're lucky it hasn't happened sooner.
They've used advertising to brainwash Americans into seeing themselves as consumers instead of citizens. Most people don't know what a right even is, but they can sure tell you the best place to shop. We watch hours of advertising and it convinces us time and again that we can buy our way to happiness. No one even thinks about anything meaningful, anymore.
All anyone thinks about is money, social rank, getting homes and making babies. We think the point of life is showing others "we've made it." Who really gives a fuck what someone owns and what they're rank is? If they got high up, they sure as shit screwed people over to get there. Is being a sociopath the new cool? It seems that way to me.
At one point, people protested, cared about right and wrong and their fellow human beings. We piss on their grave, while we waste our time buying shit. Trump gets away with a lot, because he can pay people to help him hunt and harass his enemies.
There's no way anyone can press charges against the rapist, if they have to live in fear and live on the move. They use money to bribe people to help them with this. Since most people are brainwashed to worship money and believe that it can and will fix their problems, there's no shortage of "useful idiots" willing to play that game. No activist is safe in a country full of greedy morons. If we don't get it together in November, it is truly over for us all. I can't say we didn't do all we could to bring this bad karma our way.
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u/Educational-Ad-3796 11d ago
I am certain all of America will do the right thing in November and vote for Marco Rubio to run Azkaban Prison.
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u/Ponies_in_Jumpers 11d ago
I'm not sure why this comment made me laugh so hard. What a darkly funny way to put it. 😂
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u/Gustomucho 12d ago
He has a cheat code for free money… he is using it
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u/dirty_hooker 12d ago
Plus, this is the first time he’s ever done better than the market. He’d be more wealthy today if he had simply invested his inheritance and lived a life of leisure. Thing is, he’s going to ruin the world economy because he doesn’t know when to stop. The way to win while cheating is to do it rarely and discreetly. Since he’s getting absolutely no pushback and has never had consequences, he’ll run with it until the rest of the world throws the board and pieces on the floor.
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u/bazinga_0 12d ago
Trump has never been accepted by the old money rich that he has tried to join since he became an adult. He still thinks that if he has enough money that they will have to invite him into their very exclusive club.
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u/NotSoFastLady 12d ago
Billionaires are destroying this world. Their greed knows no limits
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u/Scary_Criticism_7847 12d ago
They have a sickness. It’s called Never Enough. And there’s never enough for them.
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u/dodokidd 12d ago
He doesn’t make much money when he was a business man, so he is making it up for himself
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u/verusisrael 12d ago
At this point would it be easier to count the things this administration has done that wasn't illegal instead of all the things that are?
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u/PigglyWigglyDeluxe 12d ago
Oh look, more impeachable actions that should require forced removal from office. Throw it on the pile
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u/Awkward_Hope_6521 12d ago
Just more blatant corruption. No one will do shit. This fat fuck and his brood of leaches will just continue to use our tax money as their personal fucking Robinhood account. Fuck this country.
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u/CatmatrixOfGaul 12d ago
The majority of Americans were fine with giving him all this power. He is a symptom of a diseased America. He is not the disease.
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u/Just-Upstairs4397 12d ago
I agree. He is a symptom of a system rotten to the core, where Fox News controls the opinions of 1/3 of the population. and billionaires decide who and what we get to vote on. Trump might be worse than normal, but the people who elected him will still be around even when he is gone, and Fox News even after losing big lawsuits still lies all the time. We are ruled by billionaires. and they’re not even hiding it anymore
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u/DutyBusy9905 11d ago
The 77 million who voted for him are the disease. They are the cancer at the heart of our society. But I keep being told by enlightened centrists that we need to be kind and welcoming and empathetic and applaud them for turning away from fascism because it finally hurt their wallets.
You don't reason with cancer.
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u/shableep 12d ago
You’re overstating the sophistication of how the average American voted. They voted the way they did for a long list of reasons that had nothing to do with “give him more power”. They mostly voted for Trump because they were angry about the post-COVID state of the economy. And now they have buyers remorse.
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u/hypnohighzer 12d ago
That's inside trading. Which I thought was illegal, but if no one holds you accountable...
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u/bob2jacky 11d ago
Who cares. You Americans post this shit all day everyday and not one of you does a damn thing about it. Twice this guy was elected.
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u/kamildevonish 11d ago
The ones who post this obviously have to be the ones who care.
As a Canadian, I do wonder if we're pointing the fingers at Americans while the infection that is killing them is festering in our own countries. America isn't just a tragedy and a laughingstock: they're a cautionary tale.
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u/timvaldez1962 12d ago
That is blatantly illegal, yet no one says anything, fuck Republicans.
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u/SumatraBlack 11d ago
Everyone please vote so we can start getting these criminals out of power and in jail.
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u/yuusharo 12d ago
Carter had to place his peanut farm in a blind trust before taking office.
Fox News crucified Obama over a fist bump with his wife and a tan suit that one time.
The American Empire™ needs to fall.
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u/Greathands4u 12d ago
Isn’t insider trading illegal?
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u/STLA_nonymous 12d ago edited 8d ago
The original post content no longer exists here. The author used Redact to remove it, exercising their right to control their data & privacy.
Paltry vanish breezy handle wise toothbrush sleep dependent
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u/PlanesandAquariums 12d ago
What’s crazy is you don’t even have to keep track of this stuff that much to know about that.
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u/whipplej 12d ago
Endless insider profiteering, but the Dems will never say anything cause they're afraid it'll hurt their bag as well.
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u/NoBonus6969 11d ago
What's crazy to me about this is the scale and greed of it. He's ripped off tax payers for billions in personal wealth but he still needs to nickel and dime 5 million. He has to grift every deal no matter how small
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u/kingwood707 12d ago
insider trading is illegal for all of us except politicians. this needs to change
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u/blkatcdomvet 12d ago
Elect and con and felon with kids who stole from cancer kids, expect more of same.
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u/Kastar_Troy 12d ago
How many of these dodgy buys does he need to do before someone does something?
ffs America... Arrest the con artist already
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u/Boys4Ever 12d ago
Remember when Pelosi was a call to arms for the party of law and order and drain the swamp
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u/Felon_musk1939 12d ago
I want SpaceX certificates because they're going to be a novelty item to show people at future parties.
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u/RebelStrategist 12d ago
Nothing to see here, folks. Nothing out of the ordinary. Funny how the same Republicans who bitched and moaned about Pelosi are suddenly silent when their almighty king does the exact same thing.
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u/wonkytalky 12d ago
Obviously, very seriously illegal on several counts and nobody in power gives a shit.
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u/Fake_Opinions69 12d ago
Yeah but Nancy Pelosi bought Nvidia shares when literally everyone knew Nvidia was already one of the most profitable companies on the planet so that completely nullifies all of Trump's crimes! You can't defeat MAGA-Logic!
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u/Jorgen_G_Pakieto 12d ago
Remember when presidents had to give up their own peanut farms before taking office
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u/brainvheart143 12d ago
He can’t even get out of his own way. 10 days until
Early voting starts here. Please. VOTE
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u/meat_whistle_gristle 12d ago
We are in our terminal republic stage.
Hopefully we don’t end up with a Sulla or Napoleon.
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u/InternalInfernal_ 11d ago
Isn't that illegal? Crazy how often he breaks the law. What a time to be alive. Also he's a rapist and a pedophile.
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u/Dedpoolpicachew 11d ago
Yes, it’s illegal. Of course, who is going to enforce the law? The DoJ that is his personal law firm?
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u/Th3_r3al_napst3r 11d ago
The funny thing is, it won't make him happy. Or his kids, or any of these losers who only know how to accumulate capital. We know that...because they've already been rich their whole lives and they're still miserable.
Pathetic fucks.
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u/Agreeable_Orange7032 11d ago
We just can’t say shit like all politicians lie and are corrupt anymore.
The scale of this administration’s lies, corruption, crimes and constant output of daily bullshit is hard to comprehend.
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u/IllConsequence7448 11d ago
I always thought insider trading was illegal? Huh, guess I was mistaken! /s
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u/mados123 12d ago
Of course he did. He's a criminal, and cannot help himself. Like an alcoholic to liquor.
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u/surffrus 12d ago
Can someone ELI5 how buying bonds before this decision results in making more money? If it was stock, ok, because the price goes up after his decision. But bonds??
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u/d4dog 12d ago
Of fucking course he did. I'd be surprised if he didn't, he's taking every penny he can get his hands on. The real question is where is he hiding all the money he's stolen, embezzled or miss appropriated.
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u/teddykaygeebee 12d ago
Nothing fishy about that. Presidents do that all the time. /s 24/7 corruption
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u/Gibraldi 12d ago
I wonder if he gave anyone else the heads up via the $200k truth social subscription.
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u/TheWalrus_15 12d ago
And for some reason there are absolutely no consequences or backlash for the most blatant corruption.
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u/Nigel_melish01 12d ago
And that’s exactly he’s talking up AI at the moment. He’s going to load up with a shitload of shares just before awarding big contracts
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u/ShutYourDumbUglyFace 12d ago
He does the best insider trading. No one insider trades like he does.
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u/Berkyjay 12d ago
Centrist Democrats think we should ignore this and just pass ethics reform which Trump will 1000% sign into law...pinky swear.
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u/monti9530 12d ago
Those who think Trump and Musk had a fallout and arent partners are blinded with words, bread and circus
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u/snail-the-sage 12d ago
bu... but he's not taking a salary. my grandmother promised he wasn't going to enrich himself
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u/TheQuantumSword 11d ago edited 11d ago
America is and has always been a corrupt, entitled, violent, power hungry, military empire, the world is only ever suprised by Americans being continuously supprised.
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u/Leather_Floor8725 12d ago
The money Trump makes via insider trading and manipulation comes out of the pocket of someone else.
The interesting aspect here is that he is trading such big numbers that he’s basically ripping off billionaires, banks, and financial institutions. So there is still hope that in the end he may not get away with it. You can steal in America, but not from the donor class 😂