(RightIsRight.co) – Paul Pelosi, the multimillionaire husband of US House of Representatives Speaker Nancy Pelosi (D-CA), bought millions of dollars worth of stock in a computer chip maker right ahead of a vote in Congress to give $52 billion in federal money to the chip-making industry.
With the new stock option purchase, the Pelosi family, who already boast a fortune in excess of $130 million, is likely to grow even more prosperous.
The Pelosis amassed most of their wealth over the past couple of decades through stock trading by Paul Pelosi, 82, which has caused suspicions of “political insider trading” due to the access to sensitive political information enjoyed by Nancy Pelosi, also 82.
In the new stock purchase, Paul Pelosi bought stock options worth between $1 and $5 million from Nvidia, a leading producer of semiconductors, according to The Daily Caller, which cited Nancy Pelosi’s newly filed disclosure reports. More specifically, Paul Pelosi bought 20,000 Nvidia shares on June 17.
The US Senate is expected to vote on a bipartisan bill that would provide tax credits and $52 billion in federal aid to semiconductor manufacturers in the United States.
The bill’s purpose is to boost America’s computer chip industry and reduce the nation’s dependence on foreign producers and imports, mainly in light of the global competition with China.
While it may achieve that, the new law may help make the Pelosis even richer thanks to Paul Pelosi’s strategically planned stock option purchase.
“It certainly raises the specter that Paul Pelosi could have access to some insider legislative information. This is the reason why there is a stock trading app that exclusively monitors Paul’s trading activity, and then its followers do likewise,” commented Craig Holman, who is a government affairs lobbyist for the left-wing think tank Public Citizen.
In his latest stock trading deals, besides buying Nvidia stock, Paul Pelosi also sold 50 Apple Call options for between $100,000 and $250,000 and 10,000 Visa shares worth between $1 million and $5 million.
Meanwhile, Nancy Pelosi’s husband is awaiting his DUI trial after he caused a crash in May with his Porsche near their family mansion in Napa Valley, California.
What is your opinion? Do you think Nancy and Paul Pelosi use insider information that Nancy Pelosi gets as Speaker of the House to buy and sell stock? Please share your thoughts by emailing [email protected]. Thank you.
NEW – House Speaker Pelosi’s husband bought millions in computer-chip stocks ahead of vote on legislation to boost the chip-manufacturing industry.https://t.co/YDhQoOIwiG
— Disclose.tv (@disclosetv) July 16, 2022