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Former House Speaker and current Rep. Nancy Pelosi, D-Calif., is once again in the spotlight due to recent stock transactions by her husband. This attention follows Paul Pelosi selling a substantial amount of Visa stock before the federal government filed a lawsuit against the company.
Financial disclosures indicate that Paul Pelosi sold 2,000 shares of Visa on July 1, netting at least $500,000. The precise profit, if any, from this sale remains undisclosed.
The trade caught the attention of the X account “Nancy Pelosi Stock Tracker” on the same day the Department of Justice initiated a lawsuit against Visa, accusing the company of maintaining an illegal monopoly in the U.S. debit card market.
Rep. Pelosi’s congressional office did not immediately respond to FOX Business‘ request for comment regarding the trade.
In the past, a spokesperson stated, “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| V | VISA INC. | 271.74 | +1.90 | +0.70% |
Visa, Inc.
Paul Pelosi’s sale of Visa stock is the latest in a sequence of trades by the San Francisco-based investment and consulting firm’s owner, Financial Leasing Services, Inc., raising questions about their timing.
Earlier this year, the Pelosis were noted for making nearly $4 million over six months from a bet Mr. Pelosi placed on Nvidia, according to analyst reports.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NVDA | NVIDIA CORP. | 124.04 | +0.53 | +0.43% |
In 2022, Paul Pelosi invested over $1 million in Nvidia call options just weeks ahead of a congressional vote on substantial subsidies for the chip manufacturing industry, later selling them due to the timing criticism she faced.
While lawmakers’ spouses can legally trade in companies their partners may regulate, it remains illegal for them to profit from insider information.
There have been bipartisan efforts in Congress proposing legislation to ban lawmakers and their families from holding stock due to growing concerns over insider trading.
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