With the stock market recovery that started in 2023, which saw a plethora of companies increase their values multiple times, some U.S. politicians made handsome profits that extended into this year.
Well-known names such as Mitt Romney, Mark E. Green, and Daniel S. Goldman increased their wealth by over $20 million. Still, none comes close to the king of insider trades—former U.S. House of Representatives Speaker Nancy Pelosi.
Nancy Pelosi’s wealth surged by a staggering $60 million since 2023, nearly three times the figure of the next politician on the list.
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Her profits are spurred by holdings such as Nvidia (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), and Alphabet (NASDAQ: GOOG), which, thanks to the impressive growth that the technology sector experienced due to the AI revolution, saw their valuations spike.
Pelosi is yet to cash in on her most profitable trade
On December 22, when Nvidia stock was below the $500 valuation, Pelosi bought $5 million worth of strike options with a price of $120 per option and an expiry date of December 20, 2024.
To this date, the Former Speaker hasn’t cashed in on her holdings, which are estimated to have already earned her over $2.8 million and increased by 118.5% since the purchase.
Nancy Pelosi recently had her most profitable month
The ongoing month of May has already seen Pelosi add almost $10 million to her portfolio value mostly due to the spike in NVDA stock value, while other technology stocks have followed suit.
This puts her net worth over $250 million, meaning she has now earned almost 70 times more than her annual salary.
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