First Batch of U.S. Congressional Members Bought SpaceX Records: Lawmakers from Both Parties Were Involved

After SpaceX's record-breaking IPO, purchases by U.S. Congress members began to surface, drawing attention to potential conflicts of interest.

According to public financial disclosure filings from the U.S. House of Representatives, two members of Congress or their family members bought shares in SpaceX within days of its listing, making them the earliest known congressional holdings on record. As disclosure filings become public over the coming weeks, a surge of similar transactions is expected.

The two lawmakers involved are Republican Rep. Dan Meuser and Democratic Rep. Gil Cisneros. Meuser serves on the House Financial Services Committee, which oversees securities and trading matters, while Cisneros serves on the House Armed Services Committee, which oversees the Department of Defense—a key client of SpaceX.

There is currently no evidence that either lawmaker used non-public information to trade or violated any laws.

Details of the lawmakers' disclosures

According to the disclosure filings, a dependent child of Dan Meuser purchased between $15k and $50k worth of SpaceX stock on June 15, marking the first time in years that an individual stock purchase was disclosed. Gil Cisneros purchased between $1,001 and $15k worth of SpaceX stock on June 18.

In a statement, Cisneros said his investment portfolio is managed by an independent financial advisor, that he does not participate in day-to-day trading decisions, and that he has never recommended any trades while serving in Congress or the Department of Defense. Cisneros stated:

"I have always complied with all rules regarding stock trading and financial disclosures, and will continue to advocate for stronger ethical oversight of the financial portfolios of federal elected and appointed officials."

Under the STOCK Act, members of Congress are required to disclose securities transactions by themselves, their spouses, and dependent children. Current rules allow lawmakers and their immediate family to hold and trade individual stocks as long as they comply with disclosure rules and do not use confidential information obtained through their positions.

SpaceX's record IPO, stock price retreat from highs

SpaceX went public on June 12, setting a record for the largest IPO in history with a fundraising scale of approximately $75 billion. The stock opened at $150, and the company's market capitalization quickly surpassed $2 trillion, making the IPO a market test of demand for Elon Musk and artificial intelligence.

As of last Thursday's close, SpaceX shares were trading at $162, up about 8% from the opening price of $150, but down about 20% from the closing high of $201.8 on June 16.

The IPO is also seen as a precursor to a wave of large private tech companies going public. AI company Anthropic has confidentially filed for a U.S. IPO, followed by OpenAI, which could be valued at up to $1 trillion.

Legislation to ban lawmakers from trading stocks remains stalled

The issue of lawmakers owning stocks has long been in a regulatory gray area, with efforts to pass a ban stalling repeatedly over the years. House Republican leadership promised late last year to advance a bill banning lawmakers from trading individual stocks while in office, and a similar Senate proposal passed committee review in July 2025, but both chambers have taken no further action on a ban.

Meanwhile, the intertwining of interests between Congress and tech giants continues. According to previous media reports, the husband of House Republican Conference Chair Lisa McClain of Michigan bought up to $250k worth of xAI stock before Musk merged xAI into SpaceX.

There is also no evidence that McClain used non-public information. Her spokesperson, Joe Buccino, said:

"Chairman McClain's investments are all a matter of public record and were made in accordance with House rules and applicable law."

The disclosed transactions are likely just the tip of the iceberg, with more members of Congress from both parties expected to disclose their trading records around the time of the SpaceX IPO.