House Speaker Nancy Pelosi’s (D-CA) husband, Paul Pelosi, has invested up to $5 million in stocks of a semiconductor company.
According to Reuters, this happens just before the Senate is scheduled to vote next week on a bill regarding the competition that would provide a $52 billion subsidy to the semiconductor industry.
As per a declaration Nancy Pelosi submitted to the House of Representatives on Thursday, Paul Pelosi exercised 20,000 shares of Santa Clara, California-based semiconductor manufacturer Nvidia, valued at between $1 million and $5 million.
The same form also showed that Paul Pelosi sold 50 call options valued between $100,000 and $250,000 in Apple and 10,000 shares of Visa worth between $1 million and $5 million.
According to the Daily Caller, Paul Pelosi also purchased up to millions of dollars in Nvidia stock in June 2021.
This transaction appears to have taken place about the same time as the Senate passed a more comprehensive version of the semiconductor subsidy bill, but the House never considered the legislation.
Rep. Ralph Norman (R-SC) told the Daily Caller, “obviously Speaker Pelosi would be aware of the timing of this legislation over in the Senate.”
“On the heels of that vote, for anyone in her orbit to purchase seven-figures worth of stock of a U.S.-based chip manufacturer just reeks of impropriety,” Ralph Norman added.
Nancy Pelosi, who ranks among the House’s greatest earners in terms of stock trading, has said she opposes a rule prohibiting lawmakers from engaging in stock trading.
Breitbart News reported that Paul Pelosi received $4.8 million in options from Alphabet, the parent company of Google, in July 2021. According to Nancy Pelosi, she does not own any of the equities that her husband trades.
Following a collision on Highway 29 in Napa Valley on May 28 involving his Porsche and a Jeep, Paul Pelosi was recently charged with two DUI offenses.
According to Breitbart News, “His blood alcohol level stood at .082%; the California legal limit is .08%.”