House Speaker Nancy Pelosi’s husband bought up to $1.5 million worth of Apple stock as well as up to $600,000 in Microsoft shares, according to recent financial disclosures submitted by the powerful Democratic lawmaker.
The periodic transaction report, which was posted on the House of Representatives’ website, indicates that Paul Pelosi bought Apple call options between $500,001 and $1 million on May 13.
Eleven days later, the venture capitalist bought additional Apple call options worth an amount between $250,001 and $500,000, according to the disclosure forms.
That same day, Paul Pelosi also purchased Microsoft call options worth as much as $600,000.
A call option, or “call,” is a financial contract that gives the option buyer the right to purchase the stock at a certain price.
In December, Nancy Pelosi, 82, revealed in filings that she and her husband made as much as $30 million in stock trades involving Big Tech firms.
The financial windfall spurred lawmakers from both parties to push forward legislation that would ban members of Congress from trading in stocks.
The latest disclosures come just days after it was learned that Paul Pelosi, 82, crashed a new Porsche just five miles from their multimillion-dollar Napa home and vineyard while allegedly under the influence of alcohol.
Nancy Pelosi, who represents San Francisco, has been accused of profiting off companies which she is responsible for regulating.
When asked in December whether the opportunity to profit on trades could create a conflict of interest, the speaker flatly said “No” to the idea of supporting a ban on trading individual stocks.
“We’re a free-market economy,” Nancy Pelosi told reporters. “[Members of Congress] should be able to participate in that.”
Users on social media platforms including Twitter, Reddit, YouTube and TikTok have scrutinized Pelosi’s trade disclosures in recent months, believing her position as House speaker gives her and her husband an edge.
A 2012 law makes it illegal for lawmakers to use information from their work in Congress for their personal gain. The law requires them to disclose stock transactions by themselves or family members within 45 days.
In 2019, the Pelosis’ net worth was estimated by the transparency group Open Secrets to be around $114.6 million, but that number has likely increased substantially due to the appreciation of the value of their extensive stock and real estate investments.
Most of the couple’s wealth derives from Paul Pelosi’s ownership of venture capital firm Financial Leasing Services Inc.
The couple has millions of dollars worth of real estate investments, business partnerships and stock holdings. They own a home and a vineyard in Napa that are said to be worth somewhere between $5 million and $25 million.
Nancy and Paul Pelosi also own several commercial real estate properties that generate rental income as well as undeveloped real estate investments.
Assets listed on their state disclosure forms are worth between $57 million and $271 million, according to USA Today. Liabilities, which include multimillion-dollar mortgages on several properties, range from $20 million to $97 million.
With Post wires