Let’s hear it for the real Wolf of Wall Street!
Or should it be Wolf-ess?
Regardless, none other than reigning politician Nancy Pelosi has apparently made another killing in the stock market …
Though this time, the killing might just be pushing her even closer to the not-so-exclusive-anymore billionaires’ club.
As her net worth – in conjunction with that of her husband’s – is widely expected to have surpassed $400M following the latest ebbs and flows in the stock market.
According to a remarkable report from the New York Post, Pelosi may well be the She-wolf of Wall Street as a result.
“She might be the She-Wolf of Wall Street … [Representative] Nancy Pelosi raked in between $7.8 and $42.5 million in 2024 – meaning her estimated net worth with venture capitalist hubby Paul Pelosi could now top out at $413 million, new financial disclosures showed,” the New York Post detailed.
Well then.
Nine figures for a few decades of “public service?” Not bad.
Especially as that level of wealth has reportedly grown quite significantly since 2023 alone.
“The staggering sum [of $413M] is an eye-popping jump from 2023, when financial disclosures showed the couple’s net worth topping out at a possible $370 million,” the New York Post added.
Is it ever.
Though not that hard to achieve, with an insider tip or two.
“Their best trade though might have been exercising a call option in December they bought in late 2023 at an estimated premium of $1.8 million, allowing them to nab 50,000 shares of hot AI chip stock NVIDIA for $12 a pop – less than one tenth of its market price. In total the couple paid an estimated $2.4 million for the investment, which on paper is now worth more than $7.2 million,” the New York Post detailed.
How serendipitous.
“NVIDIA wasn’t their only AI play of 2024,” the New York Post added.
You don’t say!
“The couple also paid between $600,000 and $1.25 million for a call option on California cybersecurity company Palo Alto Networks in February, the same week it was revealed the White House briefed lawmakers on a serious national security threat related to Russia. The shares rose close to 20% in the days after the move,” the New York Post continued.
So, in other words, politics, rather than commerce, appears to control the markets.
Naturally, Pelosi’s PR team was sure to downplay her personal ownership of stocks … though they declined to comment on the financial moves made by her husband.
“Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,” a Pelosi spokesperson sniffed to the New York Post.
But of course. Paul Pelosi is the one who makes a fortune, while Nancy Pelosi cuts coupons at the local Walmart.
Does anyone buy this ridiculous commentary?
One thing is clear: Pelosi herself is clearly quite keen on lawmakers having the opportunity to “participate” in the “free” market economy.
“We’re a free-market economy. They [members of Congress] should be able to participate in that. If people aren’t reporting [stock trades], they should be,” Pelosi asserted.
Well, sure it’s free … with a heavy, heavy dose of information asymmetry.
Author: Jane Jones
