While her fellow Democrats have called for a ban on stock trading by members of Congress, former House Speaker Nancy Pelosi saw a 65 percent return on her investments in 2023, beating the overall market.
Pelosi pushed back on the ban but initially defended the practice, leading Senator Josh Hawley to introduce the Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act in 2023, which has yet to be passed.
The 83-year-old Democratic congresswoman achieved a 65 percent return on her investments in 2023, more than double the S&P 500's total gain of 24 percent.
That's an even bigger return than in December, when DailyMail.com used a tool dedicated to following her investments, showing that her portfolio had returned a remarkable 50 percent over the past twelve months.
It was an excellent year after a negative year for Pelosi, who saw her portfolio fall by 19.8 percent in 2022. Stock-trading lawmakers have been accused of profiting from inside information about planned or proposed legislation that could affect stock prices.
While her fellow Democrats have called for a ban on stock trading by members of Congress, former House Speaker Nancy Pelosi saw a 65 percent return on her investments in 2023.
Her dip in 2022 came after she and husband Paul Pelosi announced a sale of 25,000 shares of Nvidia for $165.05 per share, amid controversy over Congress' stock purchases.
Securities filings in December showed Pelosis bought back about 50 call options worth $2 million in the company in late 2023, according to the New York Post.
'Pelosi bet millions on $NVDA with call options in November. Using a deceptive tactic, she deliberately announced this on the Friday before Christmas weekend to avoid media coverage,” wrote Congresstrading, a watchdog on politicians' stock activity.
The ex-Speaker has benefited enormously from this year's huge gains in the stock price of Nvidia, the chipmaker whose valuation has passed $1 trillion thanks to the AI boom.
She also owns millions of dollars worth of shares of Microsoft and Apple, both of which are up about 55 percent since the beginning of the year.
Pelosi is known as one of the wealthiest members of Congress and owns several properties across the country.
Together with real estate mogul Paul, 81, she currently spends most of her time in Washington DC, where she has a $2.6 million apartment in the posh Georgetown neighborhood.
She also owns a four-bedroom San Francisco home in the middle of her congressional district, which was purchased in 2007 for $2.2 million but is now worth at least $6 million.
The 83-year-old Democratic congresswoman earned a 65 percent return on her investments in 2023, more than double the S&P 500's total 24 percent gain
Pelosi owns a four-bedroom San Francisco home in the middle of her congressional district. It was bought in 2007 for $2.2 million, but is now worth at least $6 million.
The couple also has a 65-acre wine estate in St. Helena, 65 miles north of San Francisco, with a Palladian-style house and a Z-shaped swimming pool. According to Roll Call, the property is now worth between $5 million and $25 million
The San Francisco home was where Paul Pelosi was attacked by David DePape, a former nudist from Canada, who entered the Pelosis' mansion through a back door in the early hours of October 28, 2022.
That house was where Paul Pelosi was attacked by David DePapea former nudist Canadawho entered the Pelosis' mansion through a back door in the early hours of October 28, 2022.
The couple also has a 65-acre wine estate in St. Helena, 65 miles north of San Francisco, with a Palladian-style house and a Z-shaped swimming pool.
According to Roll Call, the property is now worth between $5 million and $25 million and provides the Pelosis with an annual windfall of up to $15,000 from grape sales.
Pelosi also owns a second property in Napa Valley worth $1 million, which is rented for up to $50,000 a year, according to her financial disclosure forms.
A second rental property worth up to $5 million is located at the luxurious Sugar Bowl Ski Resort near Norden, California.
The Pelosis have a combined net worth of approximately $46 million.
The former speaker insists she doesn't talk about stocks with her husband. But video footage from Pelosi's daughter's documentary about the former speaker shows how often Paul is in the room while Pelosi conducts business by phone.
Banning stock trading in Congress has bipartisan support on Capitol Hill; During the last Congress, a number of bills were introduced in both the House of Representatives and the Senate.
Pelosi has benefited this year from huge gains in the stock price of Nvidia, the chipmaker whose valuation has passed $1 trillion. She also owns millions of dollars worth of shares of Microsoft and Apple, both of which are up about 55 percent since the beginning of the year.
Her annual gain is an even bigger return than in December, when DailyMail.com used a tool meant to track her investments, which showed her portfolio had delivered a remarkable 50 percent return over the past twelve months.
Many Americans had hoped that legislation on a stock ban would pass last Congress, after reports showed that hundreds of lawmakers regularly trade stocks directly related to their work in Congress.
In September, Pelosi supported a bill to ban stock trading in Congress. According to some advocates of government reform, this did not go far enough. The legislation never achieved anything for the rest of her speakership.
A Unusual whales Research found that only eight members of Congress saw a higher return on their investments in 2023. At least a third of them outperformed the S&P 500.
Brian Higgins, a New York Democrat who represents the Buffalo metropolitan area, led all members of Congress with a stunning 238 percent return.
Ironically, he is not particularly active in the stock market, but saw a huge increase in the Nvidia stakes he bought in 2021.
Democrats – who tend to buy more into big tech – saw returns average 31 percent, while Republicans – who invested in banks and oil – gained 18 percent.
Current rules allow members of Congress to trade stocks freely, but they must report their trading and they may use nonpublic information to inform their purchases.
But the fine for lawmakers who break the rules is typically only $200.
Earlier in 2023, Democratic Senator Kirsten Gillibrand and Republican Senator Josh Hawley formally introduced the Ban Stock Trading for Government Officials Act, which would ban members of Congress, the President, the Vice President and other White House officials – along with their relatives – would prevent them from trading in shares.
Since 2012, members of Congress have been bound by the STOCK Act, which requires them to report stock transactions of $1,000 or more by themselves or their dependents within 45 days. Members of Congress would also be subject to insider trading laws.