Politics
Madison Hall
Updated
- AllianceBernstein Holding L.P. (AB)
- Alphabet Inc. - Class A (GOOGL)
- Alphabet Inc. - Class C Capital Stock (GOOG)
- Amazon.com, Inc. (AMZN)
- American Express Company (AXP)
- Apple Inc. (AAPL)
- Micron Technology, Inc. (MU)
- Microsoft Corporation (MSFT)
- NVIDIA Corporation (NVDA)
- Paypal Holdings, Inc. (PYPL)
- REOF XX, LLC
- REOF XXII, LLC
- Roblox Corporation Class A (RBLX)
- Salesforce.com Inc (CRM)
- Slack Technologies, Inc Class A (WORK)
- Tesla, Inc. (TSLA)
- Visa Inc. (V)
- Walt Disney Company (DIS)
- Warner Bros. Discovery, Inc. - Series A (WBD)
- Speaker Nancy Pelosi's husband is making massive stock trades as Congress mulls whether to ban lawmakers and their spouses from trading.
- An Insider analysis estimated the Pelosis' cumulative wealth at at least $46.1 million.
- Insider compiled each of Paul Pelosi's trades that the speaker has reported since 2021.
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As members of Congress debate whether lawmakers and their spouses should play the stock market, House Speaker Nancy Pelosi's husband, Paul Pelosi, a venture capitalist, continues to regularly buy and sell stocks and stock options.
Pelosi has access to confidential intelligence and the power to affect — with words or actions — the fortunes of companies in which her husband invests and trades.
When asked in December 2021 whether members of Congress should even be allowed to trade stocks, Pelosi answered in the affirmative.
"We are a free-market economy. They should be able to participate in that," she said.
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This led some of her colleagues, on both the left and the right, to sharply criticize her — and draft legislation to restrict members of Congress and their spouses from trading stocks.
"Year after year, politicians somehow manage to outperform the market, buying and selling millions in stocks of companies they're supposed to be regulating," Republican Sen. Josh Hawley said. "Wall Street and Big Tech work hand-in-hand with elected officials to enrich each other at the expense of the country. Here's something we can do: ban all members of Congress from trading stocks and force those who do to pay their proceeds back to the American people. It's time to stop turning a blind eye to Washington profiteering."
Sen. Jon Ossoff, a Democrat, introduced a similar bill alongside Sen. Mark Kelly with the intent to ban members of Congress and their families from trading stocks.
"Members of Congress should not be playing the stock market while we make federal policy and have extraordinary access to confidential information," Ossoff said.
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On July 21, Pelosi denied that her husband uses information she provides to make stock trades, and she hassoftened her stance on a congressional stock-trade ban.
In September, Pelosi backed a bill House Democratic leadership advanced that would ban various government officials, including members of Congress, from trading individual stocks. But many government reform groups panned this legislation, and the fate of a congressional stock-trade ban in general remains unclear.
On November 17, 2022, Pelosi announced her plan to step down from her leadership role after 19 years of leading House Democrats. In 2018, she announced her plan to step down as Democratic leader by the end of 2022.
She said she will, however, remain a member of Congress, having easily won re-election in November 2022.
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Paul Pelosi has endured a turbulent and tragic 2022: he pleaded guilty to a DUI charge in August, and he is now recovering from head injuries he sustained after being attacked with a hammer in the Pelosis' home in October.
A previous analysis from Insider estimated that the Pelosis are worth at least $46,123,051, making Nancy Pelosi one of the 25 richest members of Congress. The vast majority of the couple's wealth is derived from stocks, options, and investments made by Paul Pelosi.
Here are all of the trades reported by Speaker Nancy Pelosi in 2021 and 2022:
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AllianceBernstein Holding L.P. (AB)
- Purchased 20,000 shares worth between $500,000 and $1 million on December 22, 2020
- Purchased 15,000 shares worth between $500,000 and $1 million on February 18, 2021
- Purchased 25,000 shares worth between $500,000 and $1 million on February 23, 2021
- Purchased 10,000 shares worth between $250,000 and $500,000 on January 27, 2022
- Sold 20,000 shares worth between $500,000 and $1 million on December 28, 2022
Alphabet Inc. - Class A (GOOGL)
- Exercised 40 call options (4,000 shares) on June 18, 2021, at a strike price of $1,200 and cumulatively worth between $1 million and $5 million
- Sold 10,000 shares worth between $500,000 and $1 million on December 28, 2022
- Sold 10,000 shares worth between $500,000 and $1 million on December 21, 2022
- Sold 10,000 shares worth between $500,000 and $1 million on December 20, 2022
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Alphabet Inc. - Class C Capital Stock (GOOG)
- Purchased 10 call options on December 17, 2021, at a strike price of $2,000, and together valued between $500,000 and $1 million
- Exercised 200 call options (20,000 shares) on September 16, 2022, at a strike price of $100, and valued between $1 million and $5 million
Amazon.com, Inc. (AMZN)
- Purchased 20 call options on May 21, 2021, at a strike price of $3,000, and together valued between $500,000 and $1 million
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American Express Company (AXP)
- Exercised 50 call options (5,000 shares) on January 21, 2022, at a strike price of $80 and together worth between $250,000 and $500,000
Apple Inc. (AAPL)
- Purchased 100 call options with a strike price of $100 on December 22, 2020, together worth between $250,000 and $500,000
- Purchased 50 call options with a strike price of $100 on May 21, 2021, together worth between $100,000 and $250,000
- Contribution of 3,000 shares to Georgetown University's Paul F. Pelosi Endowed Fund on December 30, 2021, worth between $500,000 and $1 million
- Contribution of 3,000 shares to Trinity College on December 30, 2021, worth between $500,000 and $1 million
- Exercised 100 call options (10,000 shares) on January 21, 2022, at a strike price of $100, together valued between $1 million and $5 million
- Purchased 100 call options on May 13, 2022, with a strike price of $80 and together valued between $500,000 and $1 million
- Purchased 50 call options on May 24, 2022, with a strike price of $80 and together valued between $250,000 and $500,000
- Sold 50 call options at a strike price of $100 on June 17, 2022, and valued between $100,000 and $250,000
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Micron Technology, Inc. (MU)
- Purchased 100 call options on December 21, 2021, at a strike price of $50 and together valued between $250,001 and $500,000
- Sold 100 call options (10,000 shares) on September 16, 2022, at a price of $1.84 per share — together valued between $15,001 and $50,000 — for a loss of $392,575
Microsoft Corporation (MSFT)
- Exercised 150 call options (15,000 shares) on March 19, 2021, at a strike price of $130 and together valued between $1 million and $5 million
- Exercised 100 call options (10,000 shares) on March 19, 2021, at a strike price of $140, and together valued between $1 million and $5 million
- Bought 10 call options on May 24, 2022, at a strike price of $180 and together valued between $50,000 and $100,000
- Purchased 40 call options on May 24, 2022, with a strike price of $180 and together valued between $250,001 and $500,000
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Netflix (NFLX)
- Sold 1,000 shares on December 29, 2022, valued between $250,000 and $500,000
- Sold 1,000 shares on December 30, 2022, valued between $250,000 and $500,000
NVIDIA Corporation (NVDA)
- Purchased 50 call options on June 3, 2021, at a strike price of $400, together valued between $1 million and $5 million
- Purchased 5,000 shares on July 23, 2021, together valued between $500,000 and $1 million
- Bought 50 call options on July 23, 2021, at a strike price of $100, together valued between $250,000 and $500,000
- Exercised 200 call options (20,000 shares) at a strike price of $100 on June 17, 2022, together valued between $1 million and $5 million
- Sold all of his shares (25,000 total) on July 26, 2022, valued between $1 million and $5 million at an average price of $164.05 and for a total loss of $341,365
- Sold 50 call options (5,000 shares) on September 16, 2020, at a price of $26.86 per share for a total loss of $361,476
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Paypal Holdings, Inc. (PYPL)
- Exercised 50 call options (5,000 shares) on January 21, 2022, at a strike price of $100 and together valued between $500,000 and $1 million
- Sold 5,000 shares on December 21, 2022, valued between $250,000 and $500,000
- Sold 5,000 shares on December 28, 2022, valued between $250,000 and $500,000
REOF XX, LLC
- Invested between $50,000 and $100,000 in the asset-backed security on December 22, 2021
- Invested between $15,000 and $50,000 on August 24, 2022
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REOF XXII, LLC
- Invested between $250,000 and $500,000 in the asset-backed security on July 13, 2021
- Invested between $15,000 and $50,000 in the asset-backed security on December 27, 2022
Roblox Corporation Class A (RBLX)
- Purchased 10,000 shares worth between $500,000 and $1 million on March 10, 2021
- Purchased 100 call options at a strike price of $100 on December 20, 2021, together valued between $250,000 and $500,000.
- Sold 5,000 shares together valued between $100,000 and $250,000 on December 28, 2022
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Salesforce.com Inc (CRM)
- Purchased 100 call options on December 20, 2021, at a strike price of $210, together valued between $500,000 and $1 million
- Purchased 30 call options on December 20, 2021, at a strike price of $210, together valued between $100,000 and $250,000
- Sold 130 call options on December 20, 2022, together valued at $9
Slack Technologies, Inc Class A (WORK)
- Exchanged 10,000 shares of Slack Technologies Inc. on July 22, 2021, for 776 shares of Salesforce.com Inc. as the result of a merger, with a cash payout of $267,900
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Tesla, Inc. (TSLA)
- Purchased 25 call options on December 22, 2020, with a strike price of $500, together valued between $500,000 and $1 million
- Exercised 25 call options (2,500 shares) on March 17, 2022, at a strike price of $500, together valued between $1 million and $5 million
- Sold 5,000 shares on December 20, 2022, together valued between $500,000 and $1 million for a loss of $511,197
Visa Inc. (V)
- Sold 10,000 shares on June 21, 2022, valued between $1 million and $5 million
- Sold 20,000 shares on November 8, 2022, valued between $1 million and $5 million
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Walt Disney Company (DIS)
- Purchased 100 call options on December 22, 2020, at a strike price of $100, together valued between $500,000 and $1 million
- Purchased 50 call options on December 17, 2021, at a strike price of $130, together valued between $100,000 and $250,000
- Exercised 100 call options (10,000 shares) on January 21, 2022, at a strike price of $100, together valued between $1 million and $5 million
- Let 50 call options expire on September 16, 2022, for a total loss of $132,824
- Sold 10,000 shares on December 21, 2022, together valued between $500,000 and $1 million
Warner Bros. Discovery, Inc. - Series A (WBD)
- Received 2,419 shares on April 11, 2022, resulting from a spinoff of previously held AT&T (T) shares, together valued between $50,000 and $100,000
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Methodology note: In 2012, Congress passed the Stop Trading on Congressional Knowledge (STOCK) Act to combat insider trading and conflicts of interest to bring more transparency to lawmakers' financial dealings.
Per the STOCK Act, members of Congress are required to file financial disclosures within 45 days of making a trade, doing so in a certified congressional document known as a periodic transaction report. Insider collected and analyzed the trades listed in each of Pelosi's periodic transaction reports submitted since 2021.
Federal lawmakers are required to report stock trades made by themselves, their spouses, and their dependent children. But they are only required to list the value of reported trades in broad ranges.
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