Paul Pelosi buys millions of semiconductor stocks ahead of grant vote

Paul Pelosi, husband of House Speaker Nancy Pelosi (D-CA), recently bought up to $5 million worth of stock in a semiconductor company.

It comes just before the Senate votes next week on a competition bill that would provide a $52 billion subsidy to the semiconductor industry, Reuters reported.

Paul Pelosi has exercised 20,000 shares worth between $1 million and $5 million in Nvidia, a semiconductor company based in Santa Clara, Calif., which was revealed in a disclosure Nancy Pelosi filed Thursday with representatives room.

Nancy Pelosi Periodic Transaction Report (July 14)

Nancy Pelosi Periodic Transaction Report (July 14)

The same disclosure also revealed that Paul Pelosi sold 10,000 shares worth between $1 million and $5 million at Visa and 50 call options worth between $100,000 and $250,000 at Apple.

In June 2021, Paul Pelosi also bought up to millions of dollars worth of Nvidia stock, the Daily Caller reported. It appears that this purchase took place around the same time that the Senate would pass a more expansive version of the semiconductor subsidy bill; however, the House never addressed the bill.

“Obviously Speaker Pelosi would be aware of the timing of this legislation in the Senate,” Rep. Ralph Norman (R-SC) told The Daily Caller. “In the wake of this vote, for anyone in their orbit to buy seven-figure shares of a US-based chipmaker, it reeks of impropriety.”

Nancy Pelosi is among the House’s highest-earning members when it comes to stock trading and said she opposes a ban on members of Congress trading stocks.

In July 2021, Paul Pelosi raised $4.8 million in options with Alphabet, Google’s parent company, Breitbart News reported. Nancy Pelosi denied owning any of the stocks traded by her husband.

Paul Pelosi was recently charged with two DUI misdemeanors after crashing his Porsche into a Jeep on Highway 29 in Napa Valley on May 28. “His blood alcohol level was 0.082%; the California legal limit is 0.08%,” Breitbart News reported.

You can follow Ethan Letkeman on Twitter at @EthanLetkeman.

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Post expires at 3:12am on Friday July 22nd, 2022