TradingKey - In a move highlighting growing scrutiny over Elon Musk’s political activities, SpaceX has, for the first time, included a formal risk disclosure related to Musk’s potential return to government roles — according to a Bloomberg exclusive report.
The disclosure came as SpaceX prepares for an internal stock buyback at a valuation of $400 billion, which would make it the world’s most valuable private company.
According to the report, SpaceX has added a new risk factor in its offering documents to investors, stating that after stepping down as head of the U.S. Department of Government Efficiency (DOGE), Musk may again take on a similar political role, diverting significant time and attention away from the company.
This marks the first time SpaceX has formally acknowledged the executive risk associated with Musk’s political ambitions — a move that could introduce new uncertainty into the company’s governance and operational focus.
As TradingKey previously reported, the stock buyback is expected to boost investor confidence and provide liquidity to early employees and shareholders. But this new disclosure serves as a reminder: Musk’s priorities can shift rapidly.
Bloomberg noted that the filing signals to investors of any Musk-affiliated company that very little is certain — neither in the world of billionaires nor within the Trump administration.
Earlier in 2025, Musk’s deep political involvement — including public clashes with President Trump and support for the creation of a new political party — sparked backlash among consumers and investors.
This contributed to Tesla’s ongoing sales slump, with vehicle deliveries declining for multiple consecutive months, and the stock still down about 18% year-to-date, even as the S&P 500 and Nasdaq hit record highs.
Despite the concerns, Musk continues to send mixed signals. Over the weekend, he reiterated that he has returned to his "7-day workweek, sleeping at the office" routine — an attempt to reassure investors that he remains focused on his core businesses.
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