Nancy Pelosi and others profited billions from Congress' largest stock trades: Report

By 
 June 24, 2024

Lawmakers raking in money to the tune of billions (with a B) have garnered increased attention in recent years, but none quite as notorious as former House Speaker Nancy Pelosi.

While Pelosi isn't the only lawmaker raking in the proverbial dough, she does seem to have perfected the art, as was outlined by a recent report in The Daily Mail.

With a 2024 annual salary of just $193,400, Nancy Pelosi has a staggering net worth of  $250 million, according to Quiver data, and has traded almost $4 million worth of stock just this year.

"According to our estimates, Nancy Pelosi has the sixth highest trade volume in Congress over the last year," trade tracking group Quiver Quantitative, co-founder Christopher Kardatzke exclusively told DailyMail.com.

Legislation on Trades

The Stop Trading on Congressional Knowledge (STOCK) Act was enacted in 2012 to compel legislators to disclose their trades, but that doesn't seem to have slowed down political stock market titans like Pelosi and others.

According to the act, officials are required to publicly disclose transactions valued at $1,000 or more within 30 days of receiving notice of the trade and 45 days of the trade's date.

Nevertheless, it is not mandatory for members to disclose the precise price of a transaction; rather, they are required to provide a range.

Other Traders

Along with Pelosi, Rep. Josh Gottheimer, D-N.J., Rep. Dan Mueser, D-Pa., Sen. Rick Scott, R-Fla., and Rep. Marjorie Taylor Greene, R-Ga. Have all made trades topping a million dollars in securities, just this year.

Information about those trades has been gathered, untangled, and sorted by the political trade tracker Quiver Quantitative who specialize in keeping up with the fisical movements of political figures.

Gottheimer has traded stock valued at more than $46.2 million in 2024 and Scott has traded a total of $26.35 million.

Meuser has disclosed transactions totaling $1.19 million this year, which are exclusively comprised of U.S. Treasury bills and a technology company named Nvidia. For her part, Greene has traded $1.33 million in 2024. She has reported trades totaling $2.93 million since assuming office in 2020.

The Power to Trade

For powerful figures like Pelosi watchdogs have rightfully questioned the ethical nature of how she came to amass such a fortune.

"Pelosi doesn't sit on any House technology committees, but she does represent a district in California which covers San Francisco, so obviously there's kind of a question there whether she gets any sort of insights from that position that she holds.

"The volume is just crazy. It's often trades of millions of dollars of options or tens of millions of dollars of stock. So obviously that's a lot of volume," Kardatzke said. "With Pelosi, it seems like much more intentional, large large bets on particular companies, largely focused in tech."

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