Former House Speaker Nancy Pelosi and her venture capitalist husband, Paul, have sparked renewed controversy over their exceptional financial performance in 2024, raising fresh questions about lawmakers' ability to trade stocks while serving in Congress.
According to The New York Post, the California Democrat and her husband added between $7.8 and $42.5 million to their net worth last year, potentially pushing their total wealth to an estimated $413 million.
Their remarkable financial success has drawn attention from both critics and market observers, as their investment portfolio achieved a stunning 54% return in 2024, more than doubling the S&P 500's 25% gain and outperforming every major hedge fund tracked by Bloomberg's year-end analysis.
The Pelosis' most profitable move came from a prescient investment in artificial intelligence chip manufacturer NVIDIA, where they exercised call options to purchase 50,000 shares at just $12 each, far below market value. This single trade, which cost them approximately $2.4 million, is now worth over $7.2 million.
They also demonstrated impressive timing with their Microsoft stock sale, divesting 5,000 shares worth about $2.2 million shortly before the Federal Trade Commission announced an antitrust investigation into the tech giant. Similarly, they sold Visa shares valued at roughly $525,000 before the Department of Justice filed a monopoly lawsuit against the company.
Their investment in Palo Alto Networks proved equally strategic, as they purchased call options the same week lawmakers received a White House briefing about a Russian security threat. The stock surged nearly 20% in the following days.
The couple's extraordinary trading success has reinvigorated discussions about potential conflicts of interest in Congress. The "PELOSI Act," named after the former Speaker, has been proposed to ban lawmakers and their spouses from trading individual stocks.
While Pelosi initially opposed such restrictions, claiming America is a "free-market economy," she has since moderated her stance. When questioned about a potential trading ban in May, she responded with a notably neutral "If they do, they do."
A spokesperson emphasized that "Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions," maintaining that all trades are conducted by her husband Paul.
The Pelosis have already made several notable moves in 2025, including investments in artificial intelligence health company Tempus AI, which recently secured a $200 million deal with AstraZeneca and saw its stock price double.
They've also positioned themselves in the energy sector through Vistra, whose stock price climbed following the announcement of a $1.9 billion acquisition of natural gas facilities. The company cited increasing U.S. power demand as the driving force behind the deal.
The timing and success of these investments have drawn scrutiny from market watchers and government ethics advocates alike.
The controversy surrounding the Pelosis' trading success has become a focal point in the broader debate about congressional oversight and financial regulations. Their portfolio's performance has outpaced professional investors and major financial institutions.
The couple's net worth calculations remain somewhat unclear due to congressional disclosure rules that only require reporting in broad ranges. Market research firm Quiver Quantitative estimates their 2024 worth at $257 million, representing a $26 million increase from the previous year.
These developments occur against the backdrop of growing public concern about elected officials' access to market-moving information and their ability to trade on it, even as questions about potential reforms remain unresolved.
