Former United States House of Representatives Speaker Nancy Pelosi and her husband Paul Pelosi reportedly earned between US$7.8 million and $42.5 million in 2024, potentially pushing their total net worth to US$413 million (A$637.5 million).
New congressional financial disclosures contain details, according to the New York Post newspaper.
This represents an increase from as much as $370 million in 2023, although the precise figure is unknown because lawmakers like Pelosi, a Democrat from California, are only required to report asset ranges, the Post reported in this article.
Much of the Pelosi fortune stems from sharemarket trading with all transactions done under the name of Paul Pelosi, a venture capitalist.
Another valuation of the couple’s net worth came from market research firm Quiver Quantitative which estimated it at $257 million based on daily tracked stock values, up $26 million from the previous year.
The couple owns other businesses including a Napa Valley winery, stakes in a political consulting firm and part ownership of a San Francisco Bay Area Italian restaurant.
The Post wrote that their best trades in 2024 trades include exercising call options on 50,000 shares of artificial chip maker NVIDIA (NASDAQ: NVDA) at just $12 a share, less than one-tenth of its value at the time.
The couple paid roughly $2.4 million for the investment, now worth over $7.2 million on paper.
They also bought call options on cybersecurity firm Palo Alto Networks (NASDAQ: PANW) for between $600,000 and $1.25 million in February — the same week the White House briefed lawmakers on a national security threat tied to Russia.
The company’s shares jumped almost 20% soon after, and Pelosis' investment is estimated to be worth $2.8 million.
The newspaper reported that the Pelosi portfolio earned an estimated 54% return in 2024, more than double the S&P 500’s 25% gain and ahead of every major hedge fund.
A spokesperson for Pelosi said she had no involvement in the trades: “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.”
