Recently, famed podcaster Joe Rogan shredded Democrat House Speaker Nancy Pelosi, alongside other members of Congress, for brazenly profiting from various equities positions while serving in positions of regulatory power.
In reference to her venture capitalist husband, Paul Pelosi, Rogan shreds the acquisition of more than $2.2M in stock options for Tesla on March 17, Rogan remarked on the obvious conflict of interests embedded in such a scheme.
Specifically, Rogan declared that it should be “illegal” for someone to purchase an astronomical amount of stock in electric vehicles “if you know someone is going to sign a bill and that bill is going to be a massive boost to the electrical vehicle industry,” which is precisely what Pelosi’s husband did.
On March 24, 2022 Newsmax reported that Pelosi’s husband procured significant Tesla stock at a strike price of $500 on March 17, a purchase that totaled roughly $2.18M. Since the purchase, the share price of Tesla has appreciated significantly to over $1,036 per share, which makes the holdings of Pelosi’s husband now worth nearly $2.6M.
Consequently, Pelosi’s husband enjoyed profits of $420,000 on a single trade regarding electric vehicles, which he knew in advance would benefit from congressional action.
In general, Pelosi, along with her husband, are widely assumed to have achieved profits of $30M or more via various insider trading activities.
Aside from his antics with Tesla, Paul Pelosi has also faced heavy criticism for trading Alphabet shares as Congress was deliberating an antitrust bill during Summer 2021. That particular move resulted in at least $5M in profits for the Pelosi pair.
Even more disturbingly, Pelosi and her husband are hardly unique in their skeptical financial dealings, with brazen improprieties discovered across over 9,000 financial disclosures from lawmakers.
Interestingly, many legislators have significant holdings in Pfizer, Modern, and Johnson & Johnson.
“How is this legal?” Rogan remarked in disbelief.