Following SpaceX’s monumental $2 trillion IPO in June, two members of Congress, Reps. Dan Meuser (R-Pa.) and Gil Cisneros (D-Calif.), have disclosed stock purchases in Elon Musk’s aerospace company. These filings draw attention due to their respective committee assignments—Meuser on Financial Services and Cisneros on Armed Services, which oversees a major SpaceX customer, the Defense Department. While no wrongdoing is alleged, these initial disclosures are anticipated to be the first of many congressional trades linked to the historic offering.
Following the monumental initial public offering (IPO) of Elon Musk's aerospace and satellite company, SpaceX, in June, two members of the U.S. Congress have publicly disclosed that they or their immediate family members acquired shares in the company. These transactions, detailed in publicly available House financial documents, mark the first known instances of congressional involvement in SpaceX's public debut.
Representative Dan Meuser (R-Pa.) recently reported that a dependent child purchased between $15,001 and $50,000 worth of SpaceX stock on June 15. This particular disclosure is notable as it represents the first time in several years that Meuser or a family member has bought stock in an individual company.
Similarly, Representative Gil Cisneros (D-Calif.) disclosed a June 18 purchase of SpaceX stock, valued between $1,001 and $15,000.
SpaceX launched its IPO on June 12 with an astounding $2 trillion-plus market capitalization, making it the largest IPO on record. Shares commenced trading at $150, rapidly elevating the company's valuation and setting a significant benchmark for public demand surrounding Musk's ventures and artificial intelligence innovations.
A spokesperson for Representative Meuser did not immediately respond to inquiries. Representative Cisneros, however, provided a statement to CNBC, emphasizing that he does not personally manage his investment portfolio.
“My wife and I have always employed outside financial advisors who have a fiduciary responsibility to maintain a diverse portfolio. We do not manage the day-to-day trading of our investment portfolio, nor have we ever suggested a trade while serving in Congress or at the Department of Defense,” stated Cisneros, who was appointed by President Joe Biden as the under secretary of defense for personnel and readiness in 2021.
He further added, “Additionally, while serving in both the executive and legislative branches of the government, I have always complied with all rules and regulations regarding stock trading and financial disclosures. I will also continue to advocate for more ethics oversight of federally elected and politically appointed officials in regard to their financial portfolios.”
Under current regulations, members of Congress and their immediate families are permitted to own and trade individual stocks, provided they adhere to disclosure requirements and refrain from using confidential information acquired through their official duties. No evidence suggests either Meuser or Cisneros engaged in insider trading or violated any laws. The STOCK Act mandates that lawmakers disclose transactions made by themselves, their spouses, and dependent children.
Nevertheless, the committee assignments of these lawmakers render these trades particularly sensitive. Representative Meuser is a member of the House Financial Services Committee, which holds jurisdiction over securities and exchanges. Meanwhile, Representative Cisneros sits on the House Armed Services Committee, tasked with overseeing the Defense Department—a significant customer of SpaceX.
Ethics watchdogs anticipate that these initial filings are merely the beginning, with more congressional SpaceX trades expected to emerge in subsequent disclosures. Many foresee a broad spectrum of congresspeople from both parties having participated in SpaceX's IPO.
SpaceX's public offering was a precursor to what could be a wave of massive public listings from private technology firms, many of which are central to policy discussions in Washington, D.C. AI powerhouses like Anthropic and OpenAI have also confidentially filed for U.S. IPOs, with OpenAI targeting a valuation potentially reaching $1 trillion.
SpaceX shares closed at $162 on Thursday, marking an approximately 8% increase from their $150 opening price, though about 20% below their June 16 peak of $201.80.
SpaceX has yet to respond to requests for comment.
Previously, CNBC reported that Representative Lisa McClain (R-Mich.) had a family investment positioned to benefit from SpaceX's public debut. Her husband had purchased xAI shares before Elon Musk's artificial intelligence company was integrated into SpaceX. There is no indication that McClain had knowledge of future government actions involving xAI or traded on nonpublic information.
Joe Buccino, the House Republican Conference communications director, stated in June, “Chairwoman McClain’s investments are a matter of public record. They have been made in line with all House and applicable laws.”
While tracing private company holdings can be challenging, CNBC has not identified other members of Congress with similarly direct stakes in SpaceX or anticipated tech IPOs from companies like OpenAI and Anthropic.
Despite years of attempts, legislative efforts to prohibit members of Congress from owning or trading individual stocks have consistently failed. House Republican leaders had pledged late last year to introduce a bill banning members from trading while in office, and a similar Senate proposal advanced from committee in July 2025. However, neither chamber has taken further action on a congressional trading ban.
