Tag: stock market

Pelosi’s Husband Buys $2 Million In Tesla Shares As Democrats Push Green Energy Handouts

House Speaker Nancy Pelosi’s husband purchased 2,500 shares of Tesla stock amid Democrats’ push for increased green energy spending.

Paul Pelosi, the Democratic House leader’s millionaire husband, purchased the tranche of Tesla stock on Thursday, when the company’s share price reached about $872 per share by the end of day, according to congressional filings published Monday. Pelosi bought the shares, worth roughly $2.18 million at the time, at a strike price of $500 per share.

Since Paul Pelosi’s purchase, Tesla’s share price increased nearly 19% to over $1,036 a share, making his tranche worth nearly $2.6 million.

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These Democratic Megadonors Made a $108 Million ‘Lucky Bet’ on Wall Street. Now the Feds Are Investigating.

Federal authorities are investigating three Democratic megadonors who made an enormous bet on shares of Activision Blizzard just days before Microsoft agreed in January to acquire the video game company for $69 billion.

The U.S. Justice Department and the Securities and Exchange Commission are both looking into the suspiciously timed trading activity of Barry Diller, owner of the Daily Beast, his stepson Alex von Fürstenberg, and his friend David Geffen, a longtime Democratic donor who gave $500,000 to the scandal-plagued Lincoln Project in 2020.

“Suspicious” is perhaps too generous a word to describe the three men’s decision to buy roughly $108 million worth of Activision stock options on Jan. 14. The transaction, privately arranged through JPMorgan Chase, allowed the wealthy Democrats to buy more than four million shares of Activision at the bargain price of $40 per share. Four days later, Activision announced that Microsoft would pay $95 per share to acquire the company. Imagine that!

Diller, who has donated $2.4 million to Democratic candidates and committees since 2016, just happens to be a “long time friend” of Activision CEO Bobby Kotick. They served together on the Coca-Cola board of directors. Diller insists he did nothing wrong, telling the Wall Street Journal the amazingly profitable trade involving his friend’s company was “simply a lucky bet” and “one of those coincidences.”

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Nancy Pelosi Doubles Down Despite Criticism, Makes Big-Money Stock Moves

This month, Democratic House Speaker Nancy Pelosi argued that members of Congress should not be criticized for owning personal stocks.

Days later, she bought millions of dollars worth of call options for stocks in various companies.

According to disclosures signed Wednesday, Pelosi purchased between $1.75 and $3.6 million worth of call options between Dec. 17 and Dec. 22 for companies including Google, Salesforce, Roblox and Disney.

Her largest purchases were between $500,000 and $1 million for Google and between $600,000 and $1.25 million for Salesforce.

According to the New York Post, Pelosi said on Dec. 15 that members of Congress should be able to hold individual stocks in the U.S.

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Members Of Congress And Their Families Traded Over $630 Million In Stocks This Year

Members of Congress and their immediate families exchanged more than $630 million in stocks this year.

A report from The New York Times’ DealBook — based upon research conducted by Capitol Trades — revealed that asset purchases amounted to $267 million, while sales amounted to $364 million:

About 60 percent of these trades were in company stocks, with the rest split among funds, bonds and other assets. Republicans bought $100 million worth of stocks this year, versus $75 million for Democrats, according to the average of ranges that lawmakers provide in filings.

Politicians from the two major parties displayed distinct portfolio preferences:

Democrats are really into tech stocks, which accounted for some $35 million, or nearly half of all purchases by the group (versus only 14 percent for Republicans). Microsoft was the most popular big-ticket buy: The husband of Representative Suzan DelBene of Washington is a former Microsoft executive who sold between $5 million and $25 million in the company’s stock in October, which she reported past the 45-day deadline, prompting criticism. House Speaker Nancy Pelosi’s husband is a real estate and venture capital investor who is active on the stock market, making a pair of million-dollar purchases of Microsoft stock during the year, among other trades.

Republicans are more about energy, buying $32 million worth of stock in companies in the sector during the year, about a third of all purchases (versus a mere 1 percent for Democrats). Representative Mark Green of Tennessee was associated with many of the biggest energy trades, spreading six-figure purchases across a range of firms.

According to The New York Times, members of Congress also traded $26 million in stock options and $300,000 in cryptocurrencies.

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Of Course Pelosi Doesn’t Want Congress Banned From Trading Stocks — She Rakes In Millions From It

Speaker of the House Nancy Pelosi doesn’t want Congress banned from trading stocks because she profits big from her and her husband’s investments on a regular basis.

In a press conference on Monday, the Democrat said that representatives and senators should do their best to comply with the reporting standards required by the Stop Trading on Congressional Knowledge Act, signed into law in 2012, but rejected the suggestion that legislators and their spouses should be barred from trading.

“We are a free market economy that should be able to participate in that,” Pelosi said.

Like many others in Congress, Pelosi and her husband, Paul Pelosi, a San Francisco real estate investment mogul, have poured tons of money into the stock market and profited millions off of shares largely staked in Big Tech stocks such as Alphabet, Google’s parent company. According to disclosure forms collected in the House, Pelosi has reported holding stocks in Microsoft, Roblox, Netflix, and recently sold Facebook and Apple shares.

Pelosi isn’t the only member of Congress who makes money off of trading on some of the same companies that are regularly called to testify in front of her chamber’s committees. A recent report from Insider found that 49 other legislators not only frequently involved themselves in stock trades but also failed to disclose their dealings in accordance with the STOCK Act in a timely manner or at all. The list is filled with Republicans and Democrats who, despite the law designed to curb any insider trading and conflicts of interest, “offer excuses including ignorance of the law, clerical errors, and mistakes by an accountant” to justify their lack of financial disclosures.

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‘Watters’ World’ investigates Nancy Pelosi’s financial dealings up to $315 million in assets

House Speaker Nancy Pelosi, D-Calif., has served in Congress for nearly 34 years and presently presides in a top-tier position as one of the most powerful figures in the U.S. government. Amid a recent flurry of complicated decisions she’s had to face as leader of her caucus, Fox News host Jesse Watters launched a “Watters’ World” investigation into her financial dealings during her tenure in politics. 

Last week, the Speaker was unable to pass the bipartisan infrastructure bill as progressives in her own party signaled their disapproval. Watters condemned her policies, saying they’re making it “harder and harder for average Americans to accumulate wealth,” shackling them with taxes and “destroying the dollar with reckless spending.” 

The current salary of a Speaker of the House sits in the low six-figures, yet Pelosi is one of the richest members of Congress.

So what is her secret, asked Watters: “It appears to be her husband, Paul.” 

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Retail traders follow Nancy Pelosi’s husband’s stock moves to find winners

When in doubt, pick the same stocks that lawmakers’ spouses are buying? That’s what retail investors are doing when it comes to trades made by House Speaker Nancy Pelosi’s husband, Paul Pelosi, a businessman who owns a real estate and venture capital firm.

Though Nancy Pelosi herself doesn’t trade stocks, her husband does. And that’s enough for some social traders, who see his trades as hers. “We’ve been tracking their performance and every single stock she has bought in the last two years has gone up significantly,” Christopher Josephs, cofounder of Iris, told Yahoo Finance Live. Iris is a social investing app allowing users to see the same stocks friends, influencers and professionals are buying.

Trades made by lawmakers or their family members are required to be disclosed within 45 days of execution.

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