Former House Speaker Nancy Pelosi (D-CA) and her venture capitalist husband Paul made a multi-million-dollar investment in software and computing company Nvidia last month, newly published filings with the Securities and Exchange Commission (SEC) reveal. The political power couple, known for their uncanny ability to predict and profit from unforeseen market developments, had previously divested themselves of Nvidia shares last year amid scrutiny of Congressional investments and calls to ban individual trading.
First reported by congresstrading.com, a website that monitors the stock trades of lawmakers on Capitol Hill, the Pelosis took out 50 call options on Nvidia shares in late November. The options, which give a buyer the right—but not the obligation—to buy an underlying security at a certain price, reportedly cost the couple between $1 million and $5 million. The strike price is set at $120 million with an expiration date of December 20, 2024.
However, “using a deceptive tactic, [Nancy Pelosi] purposely disclosed this on the Friday before Christmas weekend to avoid media coverage,” the website reported in an X post at the time of the filing.
Pelosi bet millions on $NVDA in November using call options. Using a deceptive tactic, she purposely disclosed this on the Friday before Christmas weekend to avoid media coverage. pic.twitter.com/HR3KvynbPI
— congresstrading.com (@congresstrading) December 22, 2023
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During her 36 years in Congress, former Speaker Pelosi, 83, and her husband have established a reputation as notable stock traders, with Paul Pelosi’s portfolio serving as an unofficial barometer for other investors. The couple’s net worth is currently estimated to be more than $140 million thanks to lucrative call options on blue chip stocks like Google, Roblox, Disney, and, most recently, Nvidia.
In 2022, Paul and Nancy Pelosi owned more than 25,000 shares in the company, which has been at the forefront of AI technology and semiconductor development. At the time, many raised concerns over the then-Speaker’s family investments given her involvement in passing the CHIPS Act, which boosted domestic semiconductor production and would have benefitted Nvidia directly.
(RELATED: US Halts $5 Billion Worth of Nvidia Products from Being Sold to China)
In response to allegations of insider trading and corruption, Pelosi in Dec. 2021 had said: “It’s a free market economy and [members of Congress] should be able to participate in that.”
Pelosi just made her largest stock buy in 3 years
Never forget her response on politician stock trading
"It's a free market economy and we should be able to participate in that"
Consultants, journalists, & more aren't allowed to participate in "the free market", but… pic.twitter.com/4l3XOGYmKX
— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) December 26, 2023
However, in July 2022, the couple sold all 25,000 shares at a price point of $165.05 apiece, reporting a loss of $341,365 on the $4.125 million sale.
In the last year, Nvidia stock has surged by 243 percent for a market capitalization of over $1 trillion, which means those 25,000 shares would have been worth $12,320,000 today—a missed profit of $8,193,750 for the Pelosis.
However, with no end in sight to Nvidia’s upward mobility, the fact that the Pelsois have bought back in despite the increased scrutiny indicates that there might be a much larger payoff to come.
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