On Monday, House Speaker Nancy Pelosi disclosed her and her husband’s newest million dollar stock market trades in Apple and Microsoft on public forms. Watch Fox Business’ Charles Payne describe her moves in the video next.
“One would say it’s the kind of bet one would make if they were a greedy capitalist. In fact, it would make a capitalist blush,” said Payne in the Fox segment on the Speaker’s trades. “The timing seems to be so impeccable when it comes to Nancy Pelosi’s trades.”
On May 13, Paul Pelosi, her husband, bought call options between $500,001 and $1 million, according to disclosure forms. As you can see, the price was low when he did it.
On May 24, Paul Pelosi bought another round of Apple options valued between $250,001 and $500,000. He now could have up to more than $1.5 million in call options in the world’s most valuable tech company.
He also bought Microsoft call options for $600,000 – again when the price had slipped.
For those who don’t know, a call option allows someone to purchase a contract to buy a stock at a certain price in the future. They are generally sold in tranches of 100 shares per contract.
Under a 2012 law, legislators are required to disclose stock transactions that they or their family make in 45 days. That’s why we are now able to see Pelosi’s trades.
Nancy and Paul Pelosi have made $30 million from stock trades – mostly in the tech sector. As the representative of San Francisco, she’s faced allegations of profiteering off the companies that she represents.
In January, Pelosi said that she would be willing to bring to the floor a bill that banned stock trading by legislators. This is a notable flip flop from her previous position, though.
Last December when asked about members of Congress profiteering off the stock market, Pelosi told the press, “We’re a free-market economy. [We] should be able to participate in that.”
According to Open Secrets, the Pelosis’ net worth is $114.6 million. Their total wealth number is likely larger, though. According to USA Today, assets on the couple’s state disclosure forms are worth between $57 million and $271 million. They also have liabilities on several multi-million properties worth between $20 million to $97 million.
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Nancy Pelosi is obviously quite the accomplished public servant. That’s why she is so wealthy. She’s served in the House of Representatives for California’s 12th District for the last 33 years and has grown rich doing it. In 2021, she was rated the sixth-best in Congress in trading performance by an analysis done by Unusual Whales, a financial data service.
Do you think Nancy Pelosi is profiting off her position in Congress? Let us know your thoughts.