Speaker of the House Nancy Pelosi recently disclosed some purchases her husband made in January and they are raising a lot of eyebrows.
To start Nancy Pelosi disclosed that her husband, Paul Pelosi, a venture capitalist purchased $4.8 million of Amazon shares. To make that purchase he exercised his options he held in Amazon and bought each share under $300 than what the stock was trading for that day, purchasing a total of 3,000 shares, the head of Amazon Jeff Bezos owns the Washington Post.
What’s more nefarious is that Pelosi also purchased 5,000 shares of Facebook for $720,000 and he already held $500,000 to $1 million previously. Three thousand of those stocks were bought at a discounted rate below what the stock was trading at.
The day that Paul Pelosi made additional Facebook stock purchases Speaker Pelosi was attacking Facebook saying that it was “schmoozing” with the Trump Administration. “I think that they have been very abusive of the great opportunity that technology has given them,” she said in a press conference, adding, “My thought about them is that all they want is their tax cuts and no antitrust action against them.”
“They intend to be accomplices for misleading the American people with money from god knows where,” she said.
In February, after the Speaker of the House was seen tearing up the President State of the Union speech, Pelosi tried to use her staff to force Facebook to remove a video of her tearing up the speech. Facebook spokesman Andy Stone directly responded to Drew Hammill, Pelosi’s Chief of Staff and said, “Sorry, are you suggesting the President didn’t make those remarks and the Speaker didn’t rip the speech?”
Stone then explained the Facebook policy, “The reason I was making the point about the fact that the things featured in this video actually happened is because that’s a key element of our policy on content like this.”
According to barrons.com Amazon’s stock has continued to rise however, Facebook’s has fallen. The Pelosi’s have not commented on the transactions but it’s certainly interesting that Pelosi continues to buy stock in a social media company she is trying to gain influence over and a company that owns the Washington Post.