OPINION – ICYMI – Being in Congress can make you very well to do. Being Speaker of the House can make you rich as hell and Nancy Pelosi is living proof of that as detailed by Jesse Watters in an expose he did for Watters World.
It all began when she married Paul Pelosi. He started a real estate and venture capital firm. He then used his connections to help Nancy win a seat in the House in 1987.
House Speaker Nancy Pelosi, D-Calif., has been a member of Congress for almost 34 years and her position as Speaker has afforded her ample opportunities to do well financially and she has not missed a single one of them.
After progressive members of her own party voiced their opposition to the infrastructure package last week, Pelosi was unable to bring the pork-laden monstrosity to a vote.
Between the Democrats destroying jobs and rising energy prices and inflation brought by Joe Biden, the average American can’t seem to make ends meet, let alone accumulate wealth. But, somehow, Pelosi has been able to accumulate a vast fortune. Watters lays out deals that made Pelosi and her husband quite wealthy if you consider $350 million wealthy and I do.
The Pelosis own a home in the Napa valley said to be worth $25 million dollars. A $2 million dollar apartment in Washington, and a red brick mansion on California’s Pacific Heights, among other properties. Paul Pelosi owns commercial real estate that is valued at $50 million according to Watters.
Watters said:
“In 2018, the Pelosis’ wealth has skyrocketed. That year, her financial disclosure report revealed a net worth of over $114 million. In 2019, Pelosi’s assets total up to a whopping $271 million and in 2020, those numbers went up even more to as high as $315 million.”
“In 2007, Visa worried the new Democrat Congress would target their swipe fees, costing them billions. So they hired a team of lobbyists who descended on Pelosi. Visa’s CEO personally met with her. She got donations from them. One of his advisers left and became a visa lobbyist himself.”
“Paul Pelosi received a phone call from his broker out of nowhere. He was fortunate, as it turned out. Paul was given a prescreened invitation to participate in Visa’s $18 billion first public offering (IPO). Did Nancy and her husband have second thoughts? No, they made an investment of between $1 million and $5 million in the Visa shares. However, things get better. Bills that would have had a negative impact on Visa’s stock price were rejected in the House when Pelosi was speaker. The Pelosis made a tidy profit on paper over this period, with Visa shares rising by more than 200 percent.”
“The Pelosis received a million dollars’ worth of Tesla shares in January, only a few months before Vice President Joe Biden announced electric vehicle incentives in June. The Pelosi family made a tidy sum of money just as Congress was about to launch an attack on Big Tech. Mr. Pelosi profited handsomely from the exercise of options on Google’s parent firm, Alphabet, pocketing $5.3 million in the process.”
Not bad for a member of Congress making less than 200 some odd k a year, wouldn’t you say?
