After Nancy Pelosi tasked the House Administration Committee with drafting a bill to prohibit congressional representatives and their family members from investing in the stock market, it was revealed that her husband, Paul Pelosi, bought shares in Alphabet, (Google's parent company) on September 16. The Democratic Party presented their version of the bill one week after learning about Pelosi’s investments.
The Pelosi's net worth has doubled since 2004. According to an Open Secrets report, in 2018 Nancy Pelosi was the seventh-wealthiest representative in the House of Representatives, with a net worth of more than $114 million, up from $41 million in 2004. Reuters explained that many investors are always on the lookout for Pelosi's stock market operations, with the aim of benefiting as much as the Speaker of the House and her husband.
The Speaker of the House of Representatives showed in her latest personal financial situation report that her husband acquired five million shares of Alphabet stock for about $1 million. With their recent purchase of Alphabet stock, the Pelosi's complete their long list of investments.
Nvidia, Apple, Disney and more
The Alphabet stock purchase is the latest of the Pelosi couple's known acquisitions. In July, Paul Pelosi purchased somewhere between $1 million and $5 million worth of shares in the technology company Nvidia. Nancy Pelosi's husband sold the shares before a bill on the manufacturer was voted on.
Nancy Pelosi previously revealed that she and her husband made millions of dollars by buying stock in multinational companies such as Disney, PayPal and Apple prior the passage of an antitrust bill that was making its way through House of Representatives.
In 2008, the Pelosi's bought 5,000 shares of Visa stock for $44 each after the credit card fee bill was pending. The bill did not pass, and the share price rose to $64 per share two days after Pelosi invested in Visa.
