Two lawmakers - Republican Dan Meuser of Pennsylvania and Democrat Gil Cisneros of California - reported in public House financial records that they or their dependents purchased SpaceX shares shortly after the company's historic IPO.
The Disclosures and the STOCK Act
Meuser reported that on June 15, his dependent child acquired SpaceX shares valued between $15,001 and $50,000. Financial disclosures indicate this marked the first stock purchase in an individual company by Meuser or a family member in several years. Cisneros, meanwhile, disclosed a June 18 purchase of SpaceX stock worth between $1,001 and $15,000.
SpaceX, the aerospace and satellite firm led by Elon Musk, debuted on the public market on June 12 with a market capitalization exceeding $2 trillion. Under the STOCK Act, lawmakers must report any stock transactions made by themselves, their spouses, or dependent children. Their committee roles add political sensitivity to these trades.
Meuser serves on the House panel that oversees securities and exchanges - the Financial Services Committee - while Cisneros is a member of the House Armed Services Committee, which has authority over the Defense Department, a significant SpaceX customer.
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Not the Only Capitol Hill Trades
Ethics watchdogs have told CNBC that these filings are probably just the beginning, with more congressional disclosures expected in coming weeks. Many anticipate that numerous lawmakers from both parties will have participated in SpaceX's IPO. SpaceX's June IPO raised around $75 billion, making it the largest ever. Shares debuted at $150 and rapidly drove the company's market cap above $2 trillion.
CNBC earlier reported that Rep. Lisa McClain (R-Mich.), a senior House Republican, had a family investment that stood to gain from SpaceX's public launch; her husband had purchased up to $250,000 in xAI before Musk merged that AI firm into SpaceX.
"Chairwoman McClain's investments are a matter of public record," said Joe Buccino, the communications director for the House Republican Conference, in a statement to CNBC last month. "They have been made in line with all House and applicable laws."
In a statement to CNBC, Cisneros said, "I do not personally manage my 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," explained Cisneros. He was nominated by President Joe Biden and confirmed as under secretary of defense for personnel and readiness in 2021.
"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," Cisneros' statement continued.
SpaceX Stock: A Rocket Launch That Pulled Back
On Thursday, SpaceX stock ended trading at $162, an 8% gain from the $150 IPO price but nearly 20% lower than the June 16 peak of $201.80.
Ongoing Debate Over Congressional Trading Bans
Efforts to prohibit lawmakers from holding or trading individual stocks have repeatedly stalled in Congress. Despite bipartisan support in recent years, no final vote has occurred. In late 2024, House Republican leaders pledged to bring a floor vote on a bill barring members from trading during their tenure. A similar Senate measure cleared committee in July 2025, but neither chamber has advanced a final vote on a congressional trading ban.
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