Lawmakers Disclose SpaceX Stock Purchases After IPO
Two members of Congress have disclosed purchases of SpaceX stock shortly after the company’s June 12 initial public offering, according to public House financial filings.
Rep. Dan Meuser, a Pennsylvania Republican, reported that his dependent child bought between $15,001 and $50,000 in SpaceX shares on June 15. Rep. Gil Cisneros, a California Democrat, disclosed a June 18 purchase valued between $1,001 and $15,000.
SpaceX, the aerospace and satellite company led by Elon Musk, went public with a valuation above $2 trillion. Its IPO raised about $75 billion, making it the largest public offering on record. Shares opened at $150 and recently closed at $162, though they remain below a June high of $201.80.
Cisneros said in a statement that he and his wife use outside financial advisors and do not manage day-to-day trades. He said he has complied with all disclosure rules and supports additional ethics oversight for federal officials’ investment portfolios. Meuser’s office and SpaceX did not immediately respond to requests for comment.
Members of Congress and their immediate families may trade individual stocks if they follow disclosure requirements and do not use confidential information obtained through official duties. There is no evidence that Meuser or Cisneros violated the law or traded on nonpublic information.
The disclosures may attract attention because of the lawmakers’ committee assignments. Meuser serves on the House Financial Services Committee, which oversees securities regulation. Cisneros serves on the House Armed Services Committee, which oversees the Defense Department, a major SpaceX customer.
The filings come amid renewed scrutiny of congressional stock trading. Previous efforts to ban lawmakers from trading individual stocks have not advanced in either chamber, despite proposals from both parties. Ethics observers expect additional SpaceX-related disclosures as more financial reports become public following the company’s high-profile IPO.