Pelosi’s Husband Buys $2 Million In Tesla Shares As Democrats Push Green Energy Handouts
House Speaker Nancy Pelosi’s husband purchased 2,500 shares of Tesla stock amid Democrats’ push for increased green energy spending.
Paul Pelosi, the Democratic House leader’s millionaire husband, purchased the tranche of Tesla stock on Thursday, when the company’s share price reached about $872 per share by the end of day, according to congressional filings published Monday. Pelosi bought the shares, worth roughly $2.18 million at the time, at a strike price of $500 per share.
Since Paul Pelosi’s purchase, Tesla’s share price increased nearly 19% to over $1,036 a share, making his tranche worth nearly $2.6 million.
In December 2021, Nancy Pelosi defended members of Congress who traded stocks despite the potential ethics concerns raised by such activity. She said lawmakers should, like the average American, be allowed to participate in the free market.
“We have a free market economy, they should be able to participate in that,” Pelosi told reporters at a news briefing at the time. (RELATED: ‘Would Empower China And Russia’: GOP Leaders Slam Democrats’ Climate Proposals As ‘A Grift’)
But after pushback, the Democratic leader reversed positions months later and vowed to support a ban if legislation including it was introduced.