Nancy Pelosi's husband gains $5 million in trade stocks

Democratic House Speaker Nancy Pelosi’s husband Paul Pelosi gained over $5 million in trade stocks in recent months. Reports of the gains follow the House Judiciary Committee’s vote to advance antitrust proposals that would target tech companies.

A recently released financial disclosure report that Pelosi filed last July 2, her husband, who owns a real estate and venture capital investment firm, made 40 call options to gain 4,000 shares of Google’s parent company Alphabet Inc. at a strike price of $1,200. Mr. Pelosi gained $4.8 million from the trade and has since gone up to $5.3 million. The transaction, dated June 18, followed Mr. Pelosi’s previous actions in May to make 20 call options for Amazon with a strike price of $3,000.

Mr. Pelosi also acquired 50 call options for Apple with a strike price of $100, according to the disclosure report. The options have a June 2022 expiration date, which means that Mr. Pelosi expects Amazon and Apple to continue with their gains.

Following the reports, Pelosi’s spokesman Drew Hammill said that the House Speaker had no involvement or prior knowledge of her husband’s financial transactions. Hammill stressed that the transactions are listed on the disclosure report as moves made by the spouse of a member of Congress as required by disclosure laws. Hammill added that Pelosi herself does not own stocks.

The revelation of these financial transactions also comes as the House Judiciary Committee made a vote late last month to advance antitrust proposals that target tech companies. The proposals address concerns regarding a lack of competition in the midst of the major influence of a small group of tech companies.

In other news, Pelosi’s office released a statement blasting former President Donald Trump following reports that he plans to file a lawsuit against tech companies while also trying to downplay or whitewash the January 6 insurrection. The statement also jabs at House Republicans who have made attempts to block efforts to conduct an investigation into the riots that led to five people dead and over 100 Capitol Police officers injured.

“Twice-impeached Florida retiree -- and de facto leader of the Republican Party -- Donald Trump joined House Republicans today in disrespecting the Capitol Police and other law enforcement officers, who valiantly defended the US Capitol on January 6th, decrying how rioters ‘are being treated unbelievably unfairly’ now that they are facing legal consequences for their actions,” said the statement.