Nancy Pelosi’s Husband Just Snapped Up $2.6 Million of Apple and Microsoft Stock, Closing Out an Options Bet That the Shares Would Soar
According to a regulatory disclosure, Nancy Pelosi’s husband, Paul Pelosi exercised approximately $2.6 million worth of Apple and Microsoft stock options this month.
The filing indicates that Paul Pelosi, marked as “SP” for spouse, purchased 5,000 shares of both Apple and Microsoft stocks on June 15 by exercising 50 call options acquired on May 24, 2022, with an expiration date of June 16.
The strike price for the Apple options was $80, while the Microsoft options had a strike price of $180. As of Friday, the closing prices for these shares were $186.68 and $335.02, respectively, resulting in a total value of around $933,000 and $1.7 million.
Since their purchase in May last year, Apple shares have increased by 33%, and Microsoft shares have risen by 29%. The gains from the strike price are even higher, reaching 131% and 83%, respectively.
This disclosure comes to light following the lack of progress in Congress regarding new legislation related to stock trading by lawmakers and their relatives.
Earlier this year, it was revealed by various news organizations, including Insider, that 78 members of Congress had not properly reported their financial trades as required by the STOCK Act, a law enacted in 2012 to address insider trading and conflicts of interest.
Efforts to impose a complete ban on individual stock trading among members of Congress have been made, but the proposed legislation did not pass.
Paul Pelosi has faced criticism in the past for his stock trades seemingly coinciding with legislation affecting the technology sector.
For instance, in July 2021, he earned a $4.8 million gain from a trade involving Alphabet stock, which occurred just before the House Judiciary Committee advanced antitrust bills targeting Google, Apple, and Amazon.
Despite this, Nancy Pelosi has consistently stated that her husband’s trades are unrelated to her political knowledge.
OpenSecrets estimates Nancy Pelosi’s net worth to be $114.6 million.
