United States Speaker of the House, Nancy Pelosi, makes an awful lot of money for someone who has been a lifelong politician. According to the Pulitzer Prize-winning journalist Glenn Greenwald, Pelosi’s personal wealth has gone from roughly $41 million in 2004 to $115 million currently.
Greenwald’s investigation show Pelosi has made an incredible amount of wealth in the stock market on the Silicon Valley companies she regulates. Nearly 75 percent of Pelosi and her husband’s stock trading in only the last two years has been in Big Tech.
Specifically, the couple has mostly traded Apple, Amazon, Microsoft, Facebook and Google stock, according to publicly available information. In his piece on Substack, Greenwald writes Google is also one of Pelosi’s top donors.
“She works on bills that directly affect the future trajectory of Google. And they lavish her campaign coffers with cash, a key source of her entrenched power” wrote Greenwald. Campaign finance data shows Google is one of her top donors, the very company which she has made millions trading their stock.
There are also reports that Pelosi often holds meetings with CEOs of tech giants the U.S. Congress is supposed to regulate, such as Apple CEO Tim Cook. Apple was roughly 17 percent of Pelosi’s trading volume.
Business Insider reported that when the Biden administration was preparing to enact legislation to benefit electric vehicle companies back in January, Nancy’s husband Paul bought 25 call options on shares in Tesla, Elon Musk’s electric vehicle company.
In March, Paul Pelosi purchased millions worth of Microsoft and Roblox shares in March, reported Fox Business. Conveniently the purchase was made right as Bill Gates’ company “secured a lucrative government contract worth nearly $22 billion to supply U.S. Army combat troops with augmented reality headsets.”
Greenwald says Pelosi is not necessarily doing anything illegal because there is no proof they have acted on non-public information or engaged in insider trading. However, “the ethical stench is obvious” noting “watching Nancy Pelosi’s wealth skyrocket by millions of dollars from trades in the very companies she is directly overseeing creates a sleazy appearance, to put that mildly.”
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