Congress members Meuser and Cisneros buy SpaceX stock post-IPO: Documents

Members of Congress Disclose SpaceX Stock Purchases

Recently, two Members of Congress have made public disclosures about their SpaceX stock purchases. These members include Rep. Dan Meuser, R-Pa., and Rep. Gil Cisneros, D-Calif.. Records indicate these buys were made following the significant IPO of SpaceX.

Details of Congressional SpaceX Stock Purchase

According to the disclosed House finance documents, Meuser’s dependent child bought between $15,001 and $50,000 of SpaceX stock on June 15th. This purchase is notable, as it’s the first individual company stock bought by Meuser or his family in several years, indicated by the financial disclosures.

Cisneros, on the other hand, bought SpaceX stock on June 18th, with a value range between $1,001 to $15,000, as displayed in his financial disclosure.

The Historic SpaceX IPO

The historic SpaceX IPO, led by Elon Musk, occurred on June 12th and resulted in a market cap of over $2 trillion. This IPO was part of an emerging trend of massive public listings by private tech companies, with many anticipating numerous congresspeople traded SpaceX’s IPO.

Congress Members’ Statements on Stock Purchases

When CNBC reached out for comments, Cisneros clarified that he and his wife do not manage their portfolio personally, but instead rely on external financial advisors. Cisneros further emphasized that he has always complied with all rules and regulations concerning stock trading and financial disclosures. Meuser, unfortunately, did not immediately respond to a request for comment.

SpaceX’s Relevance in the Current Market

Since its groundbreaking IPO in June, SpaceX has significantly impacted Republican politics and federal contracting. On its debut, the company raised approximately $75 billion, establishing it as the biggest IPO on record. Shares opened at $150 and drove the company’s market value past $2 trillion.

Congressional Stock Trading Regulations

Despite the political sensitivity of these trades, due to the members’ committee assignments, these transactions are legitimate. The STOCK Act permits lawmakers and their immediate family to own and trade individual stocks, given they comply with disclosure rules and do not use confidential information acquired from their official positions. There is no evidence Meuser or Cisneros traded on nonpublic information or violated any law.