Former House Speaker Nancy Pelosi’s husband, Paul Pelosi, was recently caught making a massive $38 million stock trade in the weeks leading up to President Donald Trump’s inauguration. According to reports, Paul, a venture capitalist, sold off $24 million worth of Apple stock and another $5 million worth of Nvidia shares.
Furthermore, Paul Pelosi bought stock in a lesser-known Chicago-based healthcare company, Tempus AI, which utilizes artificial intelligence to process clinical and molecular data. The transaction involved purchasing $100,000 worth of call options in the company on January 14, just days before Trump’s inauguration.
The Pelosis’ portfolio has seen a massive appreciation of 70% throughout the prior year, far outpacing the broader market and the average trader. Nancy Pelosi’s net worth, reportedly largely contingent on Paul’s investments, is estimated to be approximately $240 million. Over the years, many have raised concerns about the integrity of Pelosi and other congressional leaders regarding their financial investments.
However, a spokesperson for the former House Speaker denied that she was involved in the transactions. “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,” the spokesperson stated. Regardless, the historical timing of the Pelosis’s investments has drawn scrutiny, with some suggesting the ex-Speaker is capitalizing on her insider knowledge and influence.
Last year, The American Tribune reported on proposed legislation from MAGA Republicans to ban stock trading in Congress. The bill was introduced by Sen. Josh Hawley (R-MO) and was backed by Democratic Sen. Jon Ossoff (D-GA). Hawley emphasized that congressmen and Congresswomen should focus on serving the United States, not their personal financial gain.
“The truth is, Congress should not be here to make a buck. Congress should be here to serve the American people. There is no reason why members of Congress ought to be profiting off of the information that only they get, that the rest of the American people don’t get,” Hawley said in his opening statement about the bill.
Even in the absence of abject corruption, Hawley maintained that there are higher priorities. “And I don’t care, even if you don’t have so-called insider information or information not available to the public, why should members of Congress be spending their time day trading rather than focusing on the priorities that the American people sent us here to achieve and focus on,” he continued.
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“The only people you have to explain it to are here in this building. The only people who don’t seem to understand why stock trading should be banned are here in the capital. Every American gets it, and they’re right to get it. There is no reason why the personal profit of members of Congress should come first, it should come last. It shouldn’t be a consideration at all. And I’m proud to say, I think this bill takes a giant step forward to getting to that place,” he said.
Ossoff spoke after Hawley, stating, “This is a historic moment in efforts to reform the ethics laws that govern Congress and across the state of Georgia, Democrats, independents, Republicans overwhelmingly agree that members of Congress should not be playing the stock market while we legislate and while we have access to confidential and privileged information.”
Watch Hawley and Ossoff below: