Insider trading remains a persistent issue in US politics, with politicians reaping millions from well-timed stock trades based on privileged information inaccessible to the general public.
Nancy Pelosi is a prime example of a politician who has amassed hundreds of millions through stock trades, consistently outperforming the market by a significant margin. In 2023, while the S&P 500 recorded a 24.8% return, Pelosi achieved an impressive 65.5% over the same period.
In 2024, Pelosi appears poised to surpass her previous performance, having already earned over $5.5 million in the past seven days alone, as insider stock trade tracker Quiver Quantitative reported.
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Considering her annual salary is approximately $223,500, this weekly gain is 30 times larger.
Technology stocks value surge brought gains to Pelosi
Pelosi’s success is closely tied to her favoritism towards technology stocks, particularly during the AI revolution.
Her substantial investments in companies such as Nvidia (NASDAQ: NVDA), Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) have proven fruitful, with each reporting positive earnings recently.
With the Nvidia stock back above the $900 threshold thanks to the 91.29% YTD surge and close to posting its new all-time high, Pelosi’s portfolio has enjoyed hefty returns over the same period. The call option bought almost half a year ago has experienced an 81% gain.
Apple stock earned $300,000 for Pelosi in a single day
After reporting strong earnings and announcing the largest share buyback program in history on May 3 and a spike of 6%, Apple stock earned Pelosi approximately $300,000 thanks to this surge alone.
According to the Nancy Pelosi Stock Tracker, this gain comes from Pelosi’s $5 million worth of Apple stock.
If the gains like the past weeks continue in 2024, Nancy Pelosi will break her own record from last year for the highest annual gain from stocks.
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