(Jacob Bruns, Headline USA) Rep. Nancy Pelosi, D-Calif., the Democrat-designated House speaker emerita, continued her unprecedented run of incredible stock-market gains in 2023, the Daily Mail reported.
Last year, Pelosi—who, along with her husband, Paul, has a long history of profitable ventures—crushed the market with a 65% rate of return compared to the S&P 500’s overall 24% gain.
Of course, beating the S&P 500 by a full 40% is no easy task, according to Jeff Hauser, the director of the Revolving Door Project.
“It’s a sign of quasi-insider trading that’s corrupt and should be banned—it’s either an addiction to risk or a sign of corruption,” said Hauser.
“There are teams of people at sophisticated hedge funds that exist to find minor arbitrage opportunities to make a profit,” he continued. “It’s preposterous to think they are finding profit where Bridgewater or Renaissance Capital is missing it.”
Last year, Paul Pelosi sold 30,000 shares of Google stock just one month before the Justice Department announced an antitrust lawsuit against the tech giant.
The San Francisco-based investment and venture capital firm boss sold his shares in Alphabet, Google’s parent company, in three separate transactions between Dec. 20 and Dec. 28 at amounts ranging from $500,000 to $1 million.
A month later, the DOJ and eight states sued Alphabet, alleging the company had used “anti-competitive, exclusionary, and unlawful conduct to eliminate or severely diminish any threat to its dominance over digital advertising technologies.”
The Pelosi family has a combined net worth of approximately $46 million.
Meanwhile Pelosi’s former colleagues in Congress previously demanded the banning of stock trading by members of Congress in the form of the Ban Stock Trading for Government Officials Act, a failed bill which sought to prevent elected officials from trading stocks.
In early 2023, Sen. Josh Hawley, R-Mo., proposed another bill that failed to gain momentum, the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act.
