It comes after reports that SpaceX was planning to sell insider shares valued at $135 each, which would give the rocket company a valuation of more than $250 billion. In June, it was valued at around $210 billion – meaning a premium of some $40 billion in five months.
There is speculation that Mr Musk, who is known for his ambition to put humans on Mars, could push Mr Trump to relax regulations on private space flights.
Mr Musk, already the richest man in the world, saw his net worth soar to some $320 billion in the wake of Mr Trump’s election win.
In the four days following polling day, Tesla’s stock rose by some 39 per cent, lifting Mr Musk’s net worth by some $70 billion because most of his wealth is wrapped up in shares of his electric vehicle manufacturer.
SpaceX’s projects are not without controversy – in June, it was reported that Starship was generating sonic booms so powerful it risked causing property damage near its launch site in south Texas.
One independent engineer claimed that for residents of South Padre Island and Port Isabel some six miles from the site, it was the equivalent of standing 200 feet from a Boeing