SpaceX has officially filed to go public, a move that could make CEO Elon Musk the world's first trillionaire thanks to on his sizable stake in the space company. Other investors are set to profit from the highly anticipated IPO too, including a member of Congress.
Congresswoman Owns SpaceX Stake
Earlier this year, rep. Lisa McClain disclosed buying shares in Musk-owned AI and social media company xAI, which was merged into SpaceX in February 2026 with a valuation of $250 billion. At the time of the xAI and SpaceX merger, the companies were valued at $1.25 trillion combined.
McClain’s purchase, made on Dec. 15, 2025, can be tracked on the Benzinga Government Trades page. She disclosed that her spouse bought between $100,000 and $250,000 in private stock of xAI at the time.
Assuming McClain's xAI purchase was made at the $250 billion valuation, the stake has the potential to gain significantly based on SpaceX's target valuation for its upcoming IPO. The holding could be worth even more if the shares were bought at a lower valuation.
SpaceX is expected to price for a valuation of $1.75 trillion in its IPO, but many investors, analysts and prediction markets suggest the figure could hit $2 trillion at the share sale or shortly after it.
Here's how much McClain's stake would be worth, if the original investment was done at a $250 billion worth for xAI, based on the different potential valuation outcomes for SpaceX:
- SpaceX valued at $1.75 trillion: stake worth $140,000 to $350,000, with a profit of $40,000 to $100,000
- SpaceX valued at $2 trillion: stake worth $160,000 to $400,000, with a profit of $60,000 to $150,000
While there are likely restrictions on when McClain can sell the SpaceX stock, a $2 trillion valuation could hand the congresswoman a profit of around $150,000, based on the assumption her original xAI investment was made at the $250 billion valuation mark. That represents 86% of her annual salary of $174,000.
Lisa McClain's Trading History
Members of Congress are currently allowed to buy stakes in private companies as long as they disclose their investments, similar to their stock trades.
McClain’s xAI position was disclosed just days before the AI company announced a deal with the Pentagon to deploy the Grok chatbot for military use.
On being asked about the investment in an interview with NewsNation, McClain laughed and said she and her husband had no knowledge of the Pentagon deal and it was not insider trading.
“I can 100% assure you that we didn’t have the insider information,” she said at the time. “Because if it was, we wouldn’t have bought 100,000 shares, we would’ve bought a heck of a lot more.”
The comment about 100,000 shares may refer to the investment being for $100,000, since 100,000 shares of the privately traded company would likely be worth more than her disclosed investment.
McClain has also disclosed a stake purchase in privately held robotics company Apptronik.
Benzinga previously flagged the trading history of McClain, who is a high-ranking Republican member in Congress, which has raised red flags. McClain filed hundreds of stock transactions late in August. Among those trades included Palantir Technologies, a stock that has risen substantially since her purchase. The company’s government contracts have put a spotlight on members who own the stock.
A report from Quiver Quantitative ranked McClain as the third top gainer among members of Congress for their investment portfolio gains in 2025. McClain had a gain of 37% in 2025, outpacing the 16.6% gain for the S&P 500.
McClain’s wealth has grown by millions of dollars in recent years, according to data from Quiver Quantitative. With the SpaceX IPO, McClain's wealth could go up even more.
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