According to a new congressional financial disclosure, Nancy Pelosi's husband, Paul Pelosi, bought nearly $2 million worth ofTesla stock on March 17.
Pelosi's husband is an active stock investor. In January, Paul Pelosi invested over 2 million dollars in various companies. Congressional records show that he has made tens of millions of dollars in stock trades.
Members of Congress are required by law to reveal their individual stock trades and their immediate family members within 30 to 45 days of making a stock trade.
Pelosi spokesman Drew Hammill told Insider that the speaker does not own any stocks.
The speaker has no prior knowledge or involvement in any transactions.
Pelosi's financial disclosure shows that her husband bought 2,500 shares ofTesla stock on March 17 and then exercised call options at a strike price of $500 per share. The options were due to expire the next day.
On March 23, the stock was close to $1,000 per share.
According to lobbying disclosures compiled by OpenSecrets, the company spends hundreds of thousands of dollars each year to lobby the federal government. The wealthiest person on the planet is the CEO ofTesla.
At a time when Congress is debating whether to ban members of Congress and their spouses from trading individual stocks, Pelosi's husband made stock transactions.
The topic gained renewed interest after Insider published its Conflicted Congress investigation, which found that 59 lawmakers and at least 182 senior-level congressional staffers violated the Stop Trading on Congressional Knowledge Act of 2012
The idea of barring members of Congress and their spouses from trading individual stocks while in office was rejected by Pelosi.
We are a free-market economy. When asked by Insider at her weekly press conference if they should be able to participate, Pelosi said they should.
She changed her mind and said she would be open to Congress considering legislation to prohibit members from trading stocks.
Pelosi said in February that it was complicated and members would figure it out. We will go forward with what the consensus is.
The Committee on House Administration was going to hold a hearing on this matter, but it was postponed after the committee's chairwoman tested positive for COVID-19. A new date has not yet been scheduled.
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