Nancy Pelosi’s husband dumped NVIDIA shares shortly before Congress passed the “CHIPS-plus” bill.

Nancy Pelosi Paul Pelosi

Congressman Nancy Pelosi, a Democrat of California, and Paul Peroshi will attend the 2019 Time 100 Gala at the Jazz at Frederick P. Rose Hall at the Lincoln Center in New York City on April 23, 2019. ..Taylor Hill / Film Magic

  • Speaker Nancy Pelosi reported that her husband had sold all of her stake in chip maker NVIDIA.

  • The document states that Paul Pelosi sold 25,000 shares worth up to $ 5 million — with reported losses.

  • Trade is coming as Congress is set to pass a $ 54 billion bill to step up US chip manufacturing and research.

Speaker of the House Nancy Pelosi, Paul Pelosi, sold all shares of NVIDIA on Tuesday.Chips Plus” Specification.

Paul Pelosi sold $ 1 to $ 5 million worth of NVIDIA shares, or 25,000, for an average price of $ 165.05 on July 26, according to a parliamentary financial disclosure filed by the speaker on Tuesday. Congressmen are only required to report the value of their transactions to a wide range.

The disclosure states that Paul Pelosi suffered a “total loss of $ 341,365” by selling the shares.

This disclosure of economic loss is noteworthy, as California Democrat Nancy Pelosi rarely provides detailed information about her husband’s stock and stock options trading.

But Perosis faces serious problems question When Criticism From the recent right about the timing of Paul Peroshi’s NVIDIA investment.

Insider reported earlier Paul Pelosi exercised NVIDIA’s 200 call options or 20,000 shares worth $ 1 to $ 5 million at a strike price of $ 1 million on June 17, 2022.

Paul Pelosi’s deal occurs when Congress is to pass the “CHIPS-plus” bill. The bill will invest $ 54 billion in state semiconductor manufacturing and research. NVIDIA, the producer of graphics processing units and the developer of integrated circuits, June open letter Ask parliamentary leaders to pass the bill.

last week, Pelosi denied At a press conference that her venture capitalist husband used the information she gave him to trade stocks.

“Never,” said Nancy Pelosi.

Congress considering a stock ban

The speaker’s husband’s deal also occurs when Congress is discussing whether its members and their spouses should be allowed to buy, sell, or even hold individual shares.

Pelosi himself Originally opposed to the idea“We are a free market economy. They should be able to participate in it.”

She finally turned back after sharp criticism from lawmakers and the general public on both sides of the aisle, allowing a group of bipartisan lawmakers to draft a bill and hold a hearing.

“I told the House of Representatives to review all the bills that came in and see which bills were where in our caucuses,” Pelosi said. “If members want to do that, I’m fine with it.”

Despite several bills proposed by the Republicans and Democrats in both houses, none have been voted on.Abigail Spanberger Told the insider She believes leadership is “running out of time” and that push is being stopped by “people with the ability” to move the bill forward.

Pelosi himself does not trade stocks, but her husband invests frequently.

Insider collection Each of his transactions reported by the speaker in 2021 and 2022. Many of his deals are worth millions — Previous analysis According to insiders, in late 2021, the speaker was ranked as the 14th wealthiest member of the House of Representatives with an estimated net worth of at least $ 46,123,051.

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