Paul Pelosi makes $1.25 million on Nvidia stock in 3 months

 February 24, 2024

Paul Pelosi, the husband of former House Speaker Nancy Pelosi (D-CA), who still serves in the House, reportedly made $1.25 million from Nvidia stock in 3 months after investing in call options in November (but not reporting them until right before Christmas). 

The stock took a major upturn in January after the company announced two major deals: one for mass production of new AI chips to be exported to China and one to partner with the U.S. government on an AI research program.

Fox News reported about the situation,

Christopher Josephs, co-founder of Autopilot, an app that allows individuals to track and copy a politician's trades, told Fox News Digital he estimates the most recent Pelosi investment to be around $2.5 million and said the shares are up over 50% in just three months, netting them roughly $1.25 million.

NASDAQ's website also reported that the Pelosis made over $1 million on Nvidia, but that they missed an earlier call option that could have made them $12.5 million.

Not the first time

The Pelosis were strongly criticized in 2022 when Paul again invested in Nvidia just as it was about to get a huge government contract, with many observers thinking it was way too coincidental that he chose that stock just as Congress was getting ready to approve the contract.

At the time, Nancy Pelosi said that she never shared any insider information with her husband about Nvidia or any publicly traded company, but she herself invested in Nvidia right before Congress passed the Chips Act in 2022 and made $500,000 when she quickly sold the stock to avoid further criticism.

It seems impossible to prove that there was no illegal insider trading going on no matter what Pelosi said about it. Of course, the furor died down and neither she nor Paul were ever investigated or charged with anything.

As NASDAQ pointed out indirectly, California is a community property state in which assets owned by one person are also owned by their spouse. In other words, when Paul makes money, Nancy also makes money.

It's their money jointly, which is why what he did ought to be illegal as long as she is in Congress.

Bills languishing

The earlier criticism of their stock trading led to bills being introduced in both houses of Congress to ban members of Congress and their immediate family members from trading stocks.

Those bills seem to have gotten stuck in committee for the better part of a year since being introduced.

Wonder how many other members of Congress are doing the same thing the Pelosies are?

Pelosi said she didn't support any such law before flipping her position just to stick the bill in committee, and it's no wonder.

She's cashing in through her husband, even if at age 83, she probably won't live long enough to enjoy it much.

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Thomas Jefferson
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