Reps. Dan Meuser and Gil Cisneros are the first members of Congress known to have disclosed SpaceX stock purchases after the company's record $75 billion IPO in June, filings show, with more disclosures expected in coming weeks.
Two members of Congress have disclosed that they or their family members purchased shares of SpaceX in the days following the company's initial public offering last month, according to publicly accessible House financial documents — the first such disclosures to surface since the listing.
Rep. Dan Meuser, R-Pa., filed records showing that his dependent child purchased between $15,001 and $50,000 of SpaceX stock on June 15, three days after the company's public debut. Rep. Gil Cisneros, D-Calif., disclosed a separate purchase of between $1,001 and $15,000 made on June 18. According to the filings, it was the first time in several years Meuser or a family member had bought stock in an individual company.
SpaceX, the aerospace and satellite company controlled by Elon Musk, went public on June 12, raising roughly $75 billion in what stands as the largest IPO on record. Shares opened at $150 and rapidly pushed the company's market value past $2 trillion. As of Thursday's close, SpaceX shares traded at $162 — up approximately 8% from their opening price but roughly 20% below the June 16 closing high of $201.80.
The disclosures are drawing scrutiny in part because of each lawmaker's committee assignments. Meuser sits on the House Financial Services Committee, which holds jurisdiction over securities and exchanges. Cisneros serves on the House Armed Services Committee, which oversees the Defense Department — a major SpaceX customer. There is no evidence either lawmaker traded on nonpublic information or violated any law.
A spokesperson for Meuser did not respond to a request for comment. Cisneros addressed the matter directly in a statement to CNBC, saying he does not personally manage his 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," Cisneros said. He was appointed by President Joe Biden to serve 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 continued.
Under the STOCK Act, members of Congress are required to disclose transactions made by themselves, their spouses, and dependent children. Trading individual stocks is not prohibited as long as lawmakers comply with disclosure rules and do not act on confidential information obtained through their official duties.
Ethics watchdogs have previously said the Meuser and Cisneros filings are likely only the beginning, with many anticipating a broader wave of congressional SpaceX disclosures to emerge in coming weeks. The IPO has been described as a potential catalyst for a string of high-profile public listings, with AI company Anthropic having confidentially filed for a U.S. IPO and rival OpenAI reportedly targeting a valuation that could reach $1 trillion.
SpaceX's listing also follows earlier scrutiny of Rep. Lisa McClain, R-Mich., a senior House Republican leader whose husband purchased as much as $250,000 in xAI — the artificial intelligence company Musk later folded into SpaceX — before the public debut. There is no evidence McClain traded on nonpublic information.
Efforts to ban members of Congress from trading individual stocks while in office have stalled repeatedly in recent years. House Republican leaders pledged late last year to bring a trading-ban bill to the floor, and a similar Senate proposal advanced out of committee in July 2025. Neither chamber has taken further action since.
TechEchelon Staff bylines are produced collectively by the newsroom for short, breaking, and wire-style coverage. Longer-form reporting is published under the responsible reporter's name.
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