House Speaker Nancy Pelosi’s (D-Calif.) husband, Paul, spent $2.2 million on Tesla stock, according to a report.
According to a Congressional disclosure filing, Paul Pelosi bought 2,500 shares of Tesla stock. He exercised 25 call options at a strike price of $500.
The New York Post noted the stock was worth approximately $2.2 million when he bought it. Additionally, the outlet explained, as of Thursday morning, Paul Pelosi’s stake is worth more than $2.5 million.
In January, Pelosi spokesman Drew Hammill responded to the Post’s question about “whether her husband’s stock trades were a conflict of interest.”
He told the Post, “The Speaker does not own any stocks,” adding, “As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse. The Speaker has no prior knowledge or subsequent involvement in any transactions.”
Nancy Pelosi's husband Paul buys Tesla stock worth $2.2M https://t.co/x1cuZOWmMx pic.twitter.com/Ti8DfbHQvZ
— New York Post (@nypost) March 24, 2022
Pelosi previously supported the Ban Conflicted Trading Act, which “prohibits a Member of Congress or certain congressional officers or employees from (1) purchasing or selling specified investments, (2) entering into a transaction that creates a net short position in a security, or (3) serving as an officer or member of any board of any for-profit entity.”
Still, it does not impact spouses and family members of those in Congress. In February, Pelosi commented on whether lawmakers’ spouses should be banned from trading stocks.
“It’s complicated, and members will figure it out. And then we’ll go forward with what the consensus is,” Pelosi said.
Earlier this month, the Committee on House Administration postponed its hearing on whether to ban lawmakers from trading stocks after the committee’s chairwoman contracted COVID-19.
A spokesman for the committee, Peter Whippy, told Insider a new date has yet to be set.