Shares of the SpaceX tracking stock, SPCX, slipped overnight following a report that Elon Musk donated a significant amount of SpaceX stock to a political action committee supporting Donald Trump. The report, published by The Wall Street Journal on June 29, 2026, cited unnamed sources familiar with the matter.
According to the Journal, Musk donated shares worth approximately $75 million to a super PAC backing Trump's 2026 midterm campaign. The donation was reportedly made in early June, but only became public through a filing with the Federal Election Commission on June 28.
SPCX, which tracks the performance of privately held SpaceX, fell by 3.2% in after-hours trading on June 29, according to data from Bloomberg. The stock had been up 15% year-to-date prior to the report.
Neither SpaceX nor Musk's representatives have commented on the report. The Trump campaign did not immediately respond to a request for confirmation.
