US SBA head Loeffler reaped millions from SpaceX investment

Kelly Loeffler, a wealthy member of the U.S. administration, saw her investment in Elon Musk's SpaceX skyrocket in value after her appointment as head of the Small Business Administration (SBA).

Financial disclosures reviewed by Reuters show Loeffler invested between $1 million and $5 million in Musk's artificial intelligence firm xAI before taking office on January 3, 2025. The company later merged with SpaceX. She made a second investment of $1 million to $5 million in SpaceX or xAI later in 2025, according to a previously undisclosed financial disclosure.

While exact returns are impossible to pinpoint due to the use of value ranges and lack of purchase dates in disclosures, an analyst estimates Loeffler's initial investment could be worth between $7 million and $2.6 billion. Her second investment is estimated between $2.2 million and $25.4 million.

Loeffler is not alone; at least ten other Trump administration officials also reported investments in SpaceX or xAI in their 2025 disclosures. None are employed by the Department of Defense. Federal law prohibits government officials from participating in decisions concerning companies in which they have a financial interest, though Reuters found no evidence of business dealings between the SBA and SpaceX or xAI.

“

Because SpaceX is a major contractor for the U.S. government in the space and defense industry, federal law prohibits government members from participating in decisions that concern companies in which they have a financial interest.