First known congressional SpaceX stock buys surface after IPO

Two members of Congress — Rep. Dan Meuser, R-Pa., and Rep. Gil Cisneros, D-Calif. — have disclosed that they or their family members bought SpaceX stock in the days after the company’s historic initial public offering, according to publicly accessible House financial documents.

Meuser recently disclosed that his dependent child made a June 15 purchase of between $15,001 and $50,000 of stock in the company. According to financial disclosures, it was the first time in several years Meuser or one of his family members has bought stock in an individual company.

Cisneros disclosed a June 18 purchase of between $1,001 and $15,000 in SpaceX stock.

SpaceX, Elon Musk‘s aerospace and satellite company, went public on June 12 with a $2 trillion-plus market cap.

A spokesperson for Meuser did not immediately respond to a request for comment on Friday.

In a statement, Cisneros told CNBC that 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,” said Cisneros, who was appointed by President Joe Biden to serve as the 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.

Members of Congress and their immediate family members are allowed to own and trade individual stocks as long as they comply with disclosure rules and do not use confidential information obtained through their official positions. There is no evidence Meuser or Cisneros traded on nonpublic information or violated any law.

The STOCK Act requires lawmakers to disclose transactions by themselves, their spouses and dependent children. 

Still, the members’ committee assignments make the trades politically sensitive. Meuser sits on the House Financial Services Committee, which has jurisdiction over securities and exchanges, while Cisneros sits on the House Armed Services Committee, which oversees the Defense Department, a major SpaceX customer. 

The filings are also likely the tip of the iceberg of what’s to emerge from financial disclosures in the following weeks, ethics watchdogs have previously told CNBC. Many expect a host of congresspeople on both sides of the aisle to have traded SpaceX’s IPO.

SpaceX went public in June, raising roughly $75 billion in the largest IPO on record. Shares opened at $150 and quickly pushed the company’s market value past $2 trillion, turning the listing into a test for public demand around Musk…