Key Points
- The Pelosis have access to insider information that could be used to make them incredibly wealthy.
- The latest questionable Pelosi power play regards EV subsidies.
- Paul Pelosi owns more than $1-million dollars in Tesla stock options.
One of the worst kept secrets inside the Beltway is the story of Nancy Pelosi’s ballooning wealth. Nancy, along with her husband Paul, have been incredibly lucky – maybe too lucky – when it comes to playing the stock market. Peter Schweizer has been onto them for years.
And he thinks it’s more than just “fortunate timing.”
“The Pelosis participated in at least 10 IPOs,” Schweizer told Jesse Watters on Fox News. “The fact that a politician’s family is allowed to participate in an investment that when it goes public generally doubles in value is a real indicator that there’s a problem.”
And there is a problem: insider access and abuses of power. The latest example? Pelosi’s electric vehicle power play while negotiating President Biden’s Build Back Better plan, and the reconciliation bill that includes incentives for electric car manufacturers.
Manufacturers like Tesla, where Paul Pelosi owns about a $1 million dollars worth of options.
According to the Washington Free Beacon, “Democrats [and Pelosi] are proposing nearly $120 billion to fund various clean energy projects, and another $34.5 billion dedicated to zero-emission vehicles. The reconciliation bill also proposes $42 billion in tax credits for purchases of electric vehicles, which Democrats hope will incentivize new car buyers to purchase electric vehicles instead of gas-powered cars.”
“The bill [also] offers up to $12,500 in credits for each car,” the Beacon added. How incredibly fortunate for Mr. Paul Pelosi, lucky owner of millions in Tesla stocks.
Now, spouses of politicians are allowed to buy and sell stock as long as it’s not based on insider information. Information, say, like, your wife is deciding how to encourage Americans to buy more electric vehicles. Huh.
“The financial dealings of Pelosi’s husband, Paul, came under scrutiny earlier this year when he purchased as much as $1 million of Tesla call options, one of the largest transactions of Tesla shares disclosed by a member of Congress,” The Beacon reports.
Pelosi also bet big – and won big – on Alphabet Inc. [Google], Amazon, and Apple during a time when the House Judiciary Committee was voting on antitrust legislation that would greatly impact tech companies.
Is Paul Pelosi just that lucky? Let’s file this under “it’s not what you know, it’s who you know.”
