Pelosi’s Husband Sells Almost $1M of Visa Stock Before DOJ Lawsuit
Paul Pelosi, husband of Rep. Nancy Pelosi (D-Calif.), sold between $500,000 and $1 million worth of Visa stock just weeks before the Justice Department filed its lawsuit against the credit card company on Tuesday, public records show.
The findings have raised concerns that many lawmakers may be making stock trades based on information that is not publicly available.
76% of voters believe Members of Congress and their spouses have an “unfair advantage” in stock trading.
Paul Pelosi bought and sold stocks before the Department of Justice began its investigation. probe Bloomberg reported that Visa has filed a lawsuit against the company, alleging that it has a monopoly on the debit card market.
Meanwhile, Christopher Josephs The tech entrepreneur behind the “Nancy Pelosi Stock Tracker” X's Twitter account posted a screenshot of a July 3 congressional filing that revealed that Paul Pelosi, the husband of former House Speaker Paul Pelosi, had sold 2,000 shares of Visa stock worth between $500,000 and $1 million.
Disclosure documents show Pelosi's transactions are listed as “SP,” or spouse. A reference to her husband, PaulSan Francisco-based venture capitalist and real estate investor.
At the time Paul Pelosi sold his Visa shares, there was no public indication that an antitrust lawsuit against the company was imminent.
Pelosi's stock portfolio is expected to rise 65.5% in 2023, one of the best performances in Congressional history, according to an analysis by Unusual Whales. The most notable members of the establishment who outperformed the market are:
Rep. Nancy Pelosi (D-Calif.) — 65.5% increase
Rep. Dan Goldman (D-NY) — 52.8% increase
Rep. Dan Crenshaw (R-Texas) — 38.2% increase
Rep. John Curtis (R-Utah) — 25.3% increase
Sen. Mitch McConnell (R-KY) — 18.1 percent increase
Read more about Pelosi's deal here.
Wendell Fsebo is a political reporter for Breitbart News and a former war room analyst for the Republican National Committee. He is the author of: The Politics of Slave MoralityFollow Wendell “X” @WendellHusebø or The truth of society @WendellHusebo.
