SpaceX went public today in the largest IPO in history, raising about $75 billion at a valuation of $1.75 trillion. The company holds roughly $22 billion in federal contracts with NASA, the Space Force, and the National Reconnaissance Office. Its owner, Elon Musk, is the third-largest political donor of the 2026 cycle at $85 million, per a New York Times analysis, with most of that money backing one party. I am asking you to support two reforms that protect taxpayers and retirement savers.
First, require federal contractors to publicly disclose their political spending. When the owner of a company with $22 billion in government work is also among the largest donors to the lawmakers who fund those contracts, the public deserves the full picture. That is a procurement-integrity issue, not a partisan one.
Second, hold hearings on the index rule changes that cleared SpaceX into the Nasdaq-100 and Russell 1000 within days of listing. Nasdaq and FTSE Russell rewrote their eligibility rules this spring to fast-track the company. S&P refused to follow. The result is an estimated $22 to $27 billion in forced buying by funds holding the retirement savings of ordinary Americans. SpaceX reported a net loss of nearly $5 billion last year in its own filing. Millions who never chose this stock will hold it in their 401(k) and pension accounts, at a price set by a rule change rather than their consent.
The New York City Comptroller has objected. Investor Michael Burry flagged it. Congress should examine whether forcing passive funds into a low-float, unprofitable company breaches the duty owed to savers.
Tell me where you stand on contractor disclosure and on holding these hearings. I am a constituent, and I am watching how you answer.
