Pelosi's Husband Buys $2M Tesla Stock as Dems Push Green Energy, Doubles Cash in Days
Paul Pelosi's 'shrewd' investments conveniently timed with Democrats' spending push
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House Speaker Nancy Pelosi's husband Paul Pelosi bought $2 million shares in electric car company Tesla last week as Democrats pushed for more green energy spending.
Pelosi's conveniently timed "shrewd" investment saw him double his money in just a few days as Tesla's stock prices soared.
Paul Pelosi purchased shares of Tesla stock last Thursday and the filings were published Monday.
He invested $2.18 million at the time of purchase, paying $500 a share.
By the end of that day, shares rose to $872 each.
Since executing the trade, shares of the electric vehicle and clean energy company surged, reaching $1,036 at one point, and at the time of writing, prices sit around $1000.
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Pelosi and her husband and worth hundreds of millions of dollars.
Paul Pelosi runs a venture capital firm in San Francisco that enjoys a staggering amount of "luck" in "predicting" the markets.
Pelosi purchased millions of dollars in call options after recently defending the right of congressmen to trade stocks.
The lawmaker said in December 2021 that lawmakers “should be able to participate” in stock trading after Business Insider released a report finding that “57 members of Congress and at least 182” well-paid staffers filed stock trades late in 2020 and 2021.
After pushback on a bipartisan level, Pelosi changed her position months later on stock trading for members of Congress. Pelosi said she would not block a ban, noting, “We have to do something to deter something that we see as a problem, but it is a confidence issue, and if that’s what the members want to do, then that’s what we’ll do.”
Paul Pelosi’s large purchase of Tesla stock comes as Democrats continue to support more green energy spending.
Twenty three Democrats urged Joe Biden recently to pledge $555 billion to climate action, as included in a framework for the president’s Build Back Better plan.
The investment is noted in a White House memo as “the largest single investment in our clean energy economy in history, across buildings, transportation, industry, electricity, agriculture, and climate-smart practices across lands and waters.”
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Earlier this month, 89 Democrats wrote a letter to Biden calling on him to prioritize climate change.
“We still have more to achieve in accomplishing your vision for the next generation,” the lawmakers said.
“The more than $555 billion in climate investments in the House-passed Build Back Better Act can serve as the building block to restart negotiations.”
The Congressional Progressive Caucus, which consists of 97 Democrat lawmakers, released an agenda last week that said there is a “climate emergency.”
The lawmakers urged Biden to institute bans on federal oil and gas leases after he previously halted drilling in February 2021.
Many have attributed the spike in gas prices — the most expensive in U.S. history — to this and other energy-related policies, such as the termination of the Keystone XL Pipeline.
