Rep. Nancy Pelosi’s husband, Paul Pelosi, has made another lucrative investment, this time in computer chip company Nvidia, buying between $1 million and $5 million worth of call options in November. This move, however, wasn’t disclosed until just before Christmas, Fox News Digital reports.
Members of Congress should not be able to trade stocks because of their greater access to trading knowledge over the American public.
This blatant insider trading is why I introduced the Bipartisan Ban on Congressional Stock Ownership Act.https://t.co/UMujPa2oGP
— Matt Rosendale (@RepRosendale) February 24, 2024
This isn’t the first time the Pelosis have been involved with Nvidia; previously, Paul purchased over $1 million in call options just before a congressional vote on subsidies for chip manufacturing, later selling them amidst criticism. Despite Nancy Pelosi’s denial of involvement in her husband’s stock purchases, Paul’s recent investment has paid off handsomely, with Nvidia’s stock soaring following significant business developments.
Nancy Pelosi's net worth has increased by 2000% since becoming House Speaker because of insider trading.
How has every single other person that trades stocks without the inside knowledge she has not been damaged?
— JD Sharp (@imjdsharp) February 24, 2024
Nvidia’s announcement of mass-producing AI chips for China, compliant with U.S. export rules, was followed by the U.S. government partnering with the company on an AI research program. Christopher Josephs estimates the Pelosis’ recent investment to be around $2.5 million, with shares up over 50% in three months, netting them approximately $1.25 million. While Pelosi’s office didn’t respond to inquiries, Paul’s previous stock timing has drawn scrutiny, particularly in his investments in Big Tech before significant regulatory or contractual announcements.
In one instance, Paul cashed in on Alphabet shares before a vote to regulate tech giants, earning $5.3 million. He also purchased Microsoft stock before the company secured a lucrative government contract, reaping substantial profits. Additionally, Paul invested in Tesla before President Biden’s announcement of transitioning the federal fleet to electric vehicles, a move aligned with Biden’s infrastructure plan allocating over $170 billion for electric vehicle subsidies. These instances raise questions about insider trading regulations and the involvement of lawmakers’ spouses in financial markets.
