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As her fellow Democrats have called for the banning of stock trades by members of Congress, former Speaker of the House Nancy Pelosi saw a 65 percent return on her investments in 2023, beating the overall market.
Pelosi came around on the ban but initially defended the practice, leading to Senator Josh Hawley introducing The Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act in 2023, which has yet to pass.
The longtime Democrat Congresswoman, 83, got a 65 percent return on her investments in 2023, well over double the S&P 500’s overall 24 percent gain.
That’s an even bigger return than in December, when DailyMail.com used a tool dedicated to tracking her investments, revealing her portfolio returned a remarkable 50 percent in the previous 12 months.
It was an excellent year following a down one for Pelosi, who saw her portfolio drop 19.8 percent in 2022. Lawmakers trading stocks have been accused of benefitting from insider knowledge of planned or proposed legislation that could affect share prices.
As her fellow Democrats have called for the banning of stock trades by members of Congress, former Speaker of the House Nancy Pelosi saw a 65 percent return on her investments in 2023
Her 2022 dip came after she and husband Paul Pelosi announced a sale of 25,000 shares of Nvidia at $165.05 a share amid the controversy over Congressional stock buys.
Securities filings in December showed the Pelosis buying back about 50 call options worth $2million in the company late in 2023, according to the New York Post.
‘Pelosi bet millions on $NVDA in November using call options. Using a deceptive tactic, she purposely disclosed this on the Friday before Christmas weekend to avoid media coverage,’ Congresstrading, a watchdog on politician stock activity, posted.
The ex-Speaker has profited hugely from massive gains this year in the stock price of Nvidia, the chipmaker whose valuation has passed $1 trillion thanks to the AI boom.
She also owns millions of dollars worth of Microsoft and Apple stock, which have both risen by around 55 percent since the beginning of the year.
Pelosi is known as one of Congress’ wealthiest members, owning several properties across the country.
Along with property tycoon husband Paul, 81, she currently spends most of her time in Washington D.C where she has a $2.6m condo in the upscale Georgetown district.
She also owns a four-bedroom San Francisco home that sits in the middle of her congressional district and was purchased in 2007 for $2.2m but is thought to be worth at least $6m now.
The longtime Democrat Congresswoman, 83, got a 65 percent return on her investments in 2023, over double the S&P 500’s overall 24 percent gain
Pelosi owns a four-bedroom San Francisco home that sits in the middle of her congressional district and was purchased in 2007 for $2.2m but is thought to be worth at least $6m now
The couple also have a 65-acre wine estate in St Helena, 65 miles north of San Francisco, that boasts a Palladian style house and a Z shaped pool. According to Roll Call, the property is now worth between $5m and $25m
The San Francisco home was the site of Paul Pelosi being attacked by David DePape , a former nudist from Canada, who entered the Pelosis’ mansion through a back door in the early hours of October 28, 2022
That home was the site of Paul Pelosi being attacked by David DePape, a former nudist from Canada, who entered the Pelosis’ mansion through a back door in the early hours of October 28, 2022.
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The couple also have a 65-acre wine estate in St Helena, 65 miles north of San Francisco, that boasts a Palladian style house and a Z shaped pool.
According to Roll Call, the property is now worth between $5m and $25m and provides the Pelosis with an annual windfall of up to $15,000 from grape sales.
Pelosi also owns a second Napa Valley property worth $1m which is rented out for up to $50,000 a year according to her financial disclosure forms.
A second rental property worth up to $5m is located in the upscale Sugar Bowl Ski Resort near Norden, California.
The Pelosis have a combined net worth of around $46 million.
The former speaker has long maintained that she doesn’t discuss stocks with her husband. But video footage from Pelosi’s daughter’s documentary on the former speaker highlighted just how often Paul is in the room while Pelosi is conducting business by phone.
Banning congressional stock trades has bipartisan support on Capitol Hill – last Congress there were a number of bills introduced in both the House and Senate.
Pelosi has profited from massive gains this year in the stock price of Nvidia, the chipmaker whose valuation has passed $1 trillion. She also owns millions of dollars worth of Microsoft and Apple stock, which have both risen by around 55 percent since the beginning of the year
Her yearly gains are an even bigger return than in December, when DailyMail.com used a tool dedicated to tracking her investments, revealing her portfolio returned a remarkable 50 percent in the previous 12 months
Many Americans had hoped to see stock ban legislation last Congress after reports revealed hundreds of lawmakers regularly trade stocks directly related to their work in Congress.
In September Pelosi backed a bill to ban congressional stock trades that some government reform advocates said didn’t go far enough. The legislation never went anywhere for the rest of her speakership.
An Unusual Whales study showed that only eight members of Congress saw a higher return on investments in 2023. At least a third of them did better than the S&P 500.
Brian Higgins, a New York Democrat who represents the Buffalo metropolitan area, led all Congressmembers with a staggering 238 percent return.
Ironically, he is not particularly active on the stock market but saw huge boosts in Nvidia holdings he bought in 2021.
Democrats – who tend to buy more on big tech – saw returns averaging 31 percent while Republicans – investing in banking and oil – gained 18 percent.
Current rules allow members of Congress to trade stocks freely, but they must report their trading and they are barred from using non-public information to inform their purchases.
But the fine for lawmakers who break the rules is typically just $200.
Earlier in 2023, Democratic Senator Kirsten Gillibrand and Republican Senator Josh Hawley formally introduced the ‘Ban Stock Trading for Government Officials Act’, which would prevent members of Congress, the president, vice president and other White House officials – along with their relatives – from trading stocks.
Since 2012, Congress members have been bound by the STOCK Act which requires they report stock transactions of $1,000 or more by themselves or their family members within 45 days. Members of Congress are also supposed to be confined by insider trading laws.
