A recent filing by House Speaker Nancy Pelosi (D-Calif.) shows that her financier husband Paul Pelosi offloaded nearly $5 million worth of graphics card giant Nvidia shares just days before House lawmakers are set to consider legislation that would provide billions in government subsidies for U.S. semiconductor production.
In a periodic transaction report signed on Tuesday, Pelosi disclosed (pdf) that her husband sold 25,000 shares of Nvidia at an average price of $165.05 with a total loss of $341,365.
In total, the shares are worth between $1 million and $5 million.
According to an earlier filing this month (pdf), Paul Pelosi exercised 200 call options, or 20,000 shares, of Nvidia at a strike price of $100 and expiration of June 17, 2022, worth between $1 million and $5 million.
At the same time, Paul Pelosi also sold portions of his Apple and Visa holdings, according to the speaker’s disclosure.
Paul Pelosi owns and operates a San Francisco-based real estate and consulting firm.
The move to purchase Nvidia stock in June raised questions about whether the financier had insider knowledge about the legislation, while Pelosi has drawn scrutiny in recent months over her husband’s moves in the stock market.
However, Pelosi’s spokesman Drew Hammill told media outlets at the time that the speaker “has no prior knowledge or subsequent involvement in any transactions,” while adding that she also “does not own any stocks.”
“To be clear, insider trading is already a serious federal criminal and civil violation and the Speaker strongly supports robust enforcement of the relevant statutes by the Department of Justice and the Securities and Exchange Commission,” Hammill also said.
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A Business Insider analysis from 2021 found that Pelosi is the 14th wealthiest member of Congress, with an estimated net worth of at least $46 million.
