Nancy Pelosi and her husband traded NVIDIA stocks that were implicated by legislation that was being debated and voted on. The couple is worth about $46 million.
By Sharon Zhang, Truthout
Just before the Senate passed a major bill to subsidize computer chip manufacturers on Wednesday, House Speaker Nancy Pelosi’s (D-California) husband sold thousands of shares of Nvidia — a tech company that could stand to gain from the passage of the nearly $80 billion bill.
Paul Pelosi — an extremely active stock trader who’s gained a following for his often-winning stock transactions — bought between $1 million and $5 million in Nvidia in June, as the Senate debated the bill. Then, on Tuesday, the same day that the “CHIPS-plus” bill cleared a key procedural vote, Paul Pelosi sold 25,000 shares of Nvidia stock, worth an estimated $4 million.
The financial disclosure filed by Nancy Pelosi notes that her husband sold the shares at a loss of $341,365 — an unusual thing for the lawmaker to note on a disclosure statement, Insider pointed out. The publication finds that, thanks in part to her husband’s tradings, Nancy Pelosi is worth about $46 million. Other publications estimate the couple’s net worth to be upwards of $171 million.
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