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Benzinga
Benzinga
Business
Chris Katje

Congressman’s First Stock Purchase in Two Years Is SpaceX Shares on IPO Day

SpaceX John James IPO Elon Musk Gil Cisneros John McGuire SPCX Lisa McClain United States
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SpaceX (NASDAQ:SPCX) went public on June 12 in the largest IPO in stock trading history. The IPO briefly made SpaceX CEO Elon Musk a trillionaire. Several members of congress are betting on the stock to help boost their wealth as well.

• SpaceX shares are approaching critical lows. Why did SPCX hit a new low?

Congressman Buys SpaceX Stock

Rep. John James (R-Mich.) recently disclosed buying SpaceX stock, as reported by the Benzinga Government Trades page.

James bought $15,000 to $50,000 worth of SpaceX stock on June 12, according to the disclosure.

This was the first day of trading for SpaceX stock, with shares trading between $149.32 and $176.52 during the first day.

James is now the fifth member of Congress to own SpaceX stock, joining a list that includes:

  • Rep. John McGuire (R-Va.)
  • Rep. Gil Cisneros (D-Calif.)
  • Rep. Daniel Meuser (R-Pa.)
  • Sen. Lisa McClain (R-Mich.)

Cisneros, Meuser and McGuire have disclosed buying SpaceX stock since the June 12 IPO, with purchases on June 18, June 15, and June 15, respectively.

McClain previously became a shareholder in SpaceX before the company went public, with her husband buying a stake in xAI before its merger with the space company.

Cisneros and McGuire serve on the House Armed Services Committee, which could make the purchase of SpaceX stock a questionable one. SpaceX has multiple federal government contracts, including those with the Pentagon, NASA and Space Force.

James serves on the House Energy and Commerce Committee, which has jurisdiction over the Federal Communications Commission, which plays a key role in regulation for SpaceX.

Read Also: Nancy Pelosi, Donald Trump Bet On The Same 10 Stocks – Some Might Surprise You

James’s Trading History

James made no stock transactions in 2025 and this marks his first disclosed transaction for 2026.

The congressman previously made $1.3 million in stock transactions in 2024 and $873,000 in transactions in 2023, according to data from Quiver Quantitative.

The congressman is currently running to become the next governor of Michigan. Prediction market Kalshi gives James an 85% chance of winning the Republican nomination for the governor race in the state.

James has been in Congress since 2023, previously losing attempts to become a U.S. senator in both the 2018 and 2020 elections.

Read Also: EXCLUSIVE: SpaceX Stock Could ‘Eventually Double,’ Market Expert Jay Woods Says ‘Put it Away, Don’t Look At It’

Image via Shutterstock

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