For a guy mired in his own scandals and questions of corruption, California Gov. Gavin Newsom has some audacity pointing the finger at anyone else. And when he does, he's wrong, of course. And that's because with Newsom, as with all Democrats, every accusation is probably a confession.
Newsom is claiming that President Trump bought stock in SpaceX after its launch, and because SpaceX has federal contracts, that's somehow proof of a grift or corruption.
Trump bought stock in Elon Musk’s SpaceX… a federal contractor regulated by his own administration.
— Gavin Newsom (@GavinNewsom) August 25, 2026
One. Big. Grift.https://t.co/tKzqpFpkV9
But there's a problem with this. President Trump's stock portfolio is managed by third-party financial institutions. Per White House spokesman Davis Ingle, those institutions "replicate recognized indexes, such as the Schwab 1000." SpaceX lobbied to have faster inclusion of the stock ahead of its IPO, which means many people likely have stock in SpaceX that they don't know about.
More than that, TechCrunch is reporting that the portfolio added SpaceX shares when they were trading for about $150 around June 23. Those stocks closed down at $135 on Monday, which means the president likely lost money.
Says the guy whose wife’s nonprofits collected millions in “behested” payments from tribes and corporations with business before his state.
— Gunther Eagleman™ (@GuntherEagleman) August 25, 2026
Trump’s third-party managed account bought up to $50k in a public company after the IPO.
You turned California into a failed state and…
He's (D)ifferent, of course.
You just signed a law saying anyone investigating fraud in California will get arrested.
— SeldenGADawgs (@SeldenGADawgs) August 25, 2026
One. Big. Grift.
Yes, he did.
Gavin Newsom conveniently left out the part of the Reuters story that screws up his “grift” narrative.
— Sam E. Antar (@SamAntar) August 25, 2026
Trump’s portfolio is managed by third-party financial institutions that the White House says he and his family cannot direct. The SpaceX purchase was $15,001–$50,000 and one of… https://t.co/AYhMtCCV7s
Of course.
Might want to stifle with what we know about your wife’s ’nonprofit,’ Gav. https://t.co/MBwuX2VYsc
— The🐰FOO (@PolitiBunny) August 26, 2026
Or the shady "free diaper" contract.
If anyone knows grifting it’s you, Gavvy.
— Prospero 058 (@betzva) August 26, 2026
You’ve turned California into one big playground for your gross friends. https://t.co/FvQNf6lTkh
There have been numerous questions about Newsom's finances and taxes, as well as his wife's nonprofit. Instead of answering those questions, Newsom passed an unconstitutional law that attacks the free press and projects by accusing President Trump of corruption.
Editor’s Note: Help us continue to report the truth about corrupt politicians.
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