Rep. Nancy Pelosi (D-California) and her husband, venture capitalist Paul Pelosi, have seen their estimated combined net worth soar to between $413 million and $257 million in 2024, based on new financial disclosures. This marks a substantial increase from 2023, when their net worth was estimated to be around $370 million.
The range of their net worth is uncertain, as lawmakers are only required to report approximate values. However, the Pelosis’ wealth can be greatly attributed to significant investments in the stock market and their diverse portfolio that includes a Napa Valley winery and stakes in a political data and consulting firm, as well as a Bay Area Italian restaurant.
Their trading actions have stirred notable discourse, especially following their sale of 5,000 Microsoft shares worth an estimated $2.2 million just before the Federal Trade Commission announced its antitrust investigation into the company. Additionally, they sold 2,000 shares of Visa stock, valued at approximately $525,000, shortly before a Department of Justice monopoly lawsuit against the credit card giant.
Labelled by some as the “Queen of Stocks,” Pelosi’s investment strategy this past year demonstrated impressive returns. In December, they exercised a call option allowing them to buy 50,000 shares of NVIDIA at a striking price significantly lower than market value, which resulted in an initial investment worth over $7.2 million. They also made smart moves in the technology sector with investments in Palo Alto Networks, benefitting from a rise in its stock following government briefings about national security threats.
Despite their impressive earnings—estimated at a 54% return in 2024, surpassing the S&P 500’s 25% gain—Pelosi and her husband’s lucrative trading practices have ignited debate over whether lawmakers should be allowed to trade individual stocks. Critics argue that such trading poses a conflict of interest given lawmakers’ access to market-sensitive information. Pelosi has historically resisted calls for a ban on such trading, reflecting a nuanced stance as the issue garners increasing scrutiny.
Looking optimistically toward 2025, they have already engaged in promising investments, including call options for Tempus AI, which doubled its stock price after securing a significant deal, and Vistra, which recently announced a major acquisition deal highlighting a growing demand for energy in the U.S.
This article illustrates the significant financial maneuvers of political figures and their implications on the broader conversation about stock trading among lawmakers. The shift towards a more cautious approach from Pelosi amid the ongoing debates could signal a potential change in congressional trading policies in the future.