Paul Pelosi, husband of House Speaker Nancy Pelosi (D-CA), made large investments in stocks just prior to the antitrust legislation vote.
Pelosi’s financial disclosure showed “call options to acquire 4,000 shares of Alphabet, the parent company of Google, at a strike price of $1,200. The trade netted him a $4.8 million gain, and it’s risen to $5.3 million since then as the shares have jumped,” according to Bloomberg.
The disclosure was filed on July 2, just a week before the passing of new antitrust bills, four of which targeted Google, Amazon, Apple, and Facebook, according to Breitbart News.
The Breitbart report noted Drew Hammill, a spokesman for Nancy, said in a statement that “The speaker has no involvement or prior knowledge of these transactions,” and in fact does not own any stocks herself.
According to Fox Business, “Paul Pelosi on May 21 spent up to $250,000 on 50 Apple calls that have a strike price of $100 and that expire on June 17, 2022. He also bought 20 Amazon calls, costing up to $1 million, that have a strike price of $3,000 and that also expire on June 17, 2022.”
Paul Pelosi runs a real estate and venture capital investment and consulting firm, according to the report.
The House Speaker’s husband was not in violation of any laws in the stock moves. However, the timing of the stock information has looked suspect to many looking at the information.
Paul Pelosi’s activities have come under scrutiny in the past. A similar situation took place in March involving a call on Microsoft options prior to a new $22 billion contract with the U.S. Army.