Trump bought shares in Musk’s SpaceX in June

US President Donald Trump invested as much as $50,000 in Elon Musk’s SpaceX in June, ​according to a public financial disclosure, Reuters writes.

He bought between $15,001 and $50,000 in shares on June 23, according to a financial disclosure signed by him on Aug. 12 and made public on Aug. 22. The ​purchase was part of more than 1,000 stock trades the president made in June.

In a statement to Reuters, White House spokesman Davis Ingle said that ​third-party financial institutions independently manage the president’s portfolio.

“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.

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