Pelosi Sold $3 Million in Google Stocks Mere Weeks Before DOJ Launched Antitrust Probe
Rep. Nancy Pelosi (D., Calif.) and her multimillionaire husband sold up to $3 million in shares of Google in recent weeks—just before the Biden Justice Department launched an antitrust probe of the tech giant.
According to, Paul Pelosi has sold 30,000 Google shares between Dec. 20th and Dec. 28, 2012. a financial disclosure filing The House Ethics Committee was notified by the former House speaker. According to the filing, the Pelosis earned an undisclosed profit on the investments.
The trade came about at a perfect time. On Monday, the Justice Department and attorneys general from eight states—including California—sued Google has lost its digital ad market monopoly. Google may have to end its online ad company, which generated almost $55 billion revenue for it in the most recent quarter. Google’s stock fell around 6 percent in the wake of the Justice Department filing the lawsuit.
These trades are just the latest in a series of questionable transactions for Nancy and Paul.
They saved Nvidia, a microchip manufacturer, sold shares to make $600,000. This happened weeks before the U.S. government put restrictions on Nvidia’s business in China or Russia. According to a report, the stock trades of Paul Pelosi have helped the Pelosis’ fortune increase by $140 million over 2008 thanks to their wealth. Washington Free Beacon analysis.
Pelosi’s stock-market charades have led to calls for stricter regulation of Congress members cashing in on their power.
Sen. Josh Hawley (R., Mo.) Tuesday introduced the Preventing Elected Leaders from Owning Securities and Investments Act—the PELOSI Act—to prohibit members of Congress and their spouses from owning or trading individual stocks.
“For too long, politicians in Washington have taken advantage of the economic system they write the rules for, turning profits for themselves at the expense of the American people,” Hawley stated. “As members of Congress, both Senators and Representatives are tasked with providing oversight of the same companies they invest in, yet they continually buy and sell stocks, outperforming the market time and again.”
Pelosi’s office did not return a request for comment.
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