Nancy Pelosi outperforms major hedge funds with jaw-dropping gains in 2024, leaves Wall Street pros in the dust
Nancy Pelosi and Husband's Net Worth
New financial filings disclose that the pair's net value rose to about $413 million in 22024 from $370 million in 2023, as per the New York Post.
While legislators are required to disclose only net worth ranges, a market research company such as Quiver Quantitative estimated that the Pelosi portfolio is at about $257 million based on daily stock values it tracks, which is a $26 million jump from 2023, according to the report.
Diverse Business Ventures Add to Fortune
However, the couple's net worth would be much higher than that because of their other ventures, which include but are not limited to a Napa Valley winery, ownership in a political data and consulting firm and a stake in a Bay area Italian restaurant, reported the New York Post.
ALSO READ:
US bombs Iran: Tehran sends chilling coffins message to Trump as fears of World War III rises
Live Events
Smart Trading Strategy in Paul Pelosi's Name
But a massive portion of their fortune has come from a sizable stock portfolio and timely trades, all done in Paul Pelosi's name, as per the report.
Bloomberg reported that the couple's investment portfolio has gained an estimated 54% return in 2024, which is more than double the S&P 500's 25% gain, and also beating every large hedge fund.
A spokesperson told, 'Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,' quoted the New York Post.
Early 2025 Moves Signal More Gains
The couple also started off 2025 with a good start as they bought call options in January for the then-little-known artificial intelligence health firm, Tempus AI, which has since inked a $200 million deal with
AstraZeneca
and doubled its stock price, reported New York Post.
Nancy and Paul also took out call options for energy company Vistra, whose stock rose last month after it announced a $1.9 billion deal to acquire natural gas facilities across the country from a private equity firm, as per the report.
FAQs
How much did Nancy and Paul Pelosi make in 2024?
They added between $7.8 million and $42.5 million to their net worth last year, as per New York Post.
Is Nancy Pelosi directly involved in these trades?
No, a spokesperson says she doesn't own stocks or participate in trading, and most activity is in Paul Pelosi's name, as per the report.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
17 minutes ago
- Mint
Oil prices fall 1% as OPEC+ announces increase in output
Oil prices fell on Monday after OPEC+ announced a larger-than-expected hike in crude production starting next month, signalling ample supply amid subdued global demand. Around 7:30 am, the August contract of Brent on the Intercontinental Exchange was trading at $67.62 per barrel, lower 1.04% from its previous close. The August contract of West Texas Intermediate (WTI) on the NYMEX was at $68.53, lower by 0.67% from its previous close. Eight OPEC+ members—Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman—met virtually on 5 July and agreed to raise production by 548,000 barrels per day (bpd) in August. This is higher than the phased hike of 411,000 bpd implemented from May through July. In a statement dated 5 July, OPEC said: "In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on 5 December 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 548 thousand barrels per day in August 2025 from July 2025 required production level." It, however, said that the gradual increases may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability, it added. The eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on 3 August 2025 to decide on September production levels. Oil supply growth will outpace demand and weigh on prices, S&P Global Commodity Insights said in a recent analysis. While the Israel-Iran conflict pushed Brent near $80 a barrel in June, the resulting price spike was short-lived. The uneasy ceasefire has done little to shift the underlying trajectory of global oil markets, the report noted. Jim Burkhard, vice president and global head of crude oil research, S&P Global Commodity Insights had said in the note on 2 July: 'The underlying fundamentals of the global oil market remain profoundly unchanged. OPEC+ members are continuing with the accelerated unwinding of production cuts. There will be more oil supply coming from the Middle East in July. Meanwhile, global demand growth remains weak. In other words, there is plenty of oil available.' S&P Global Commodity Insights expects supply to outstrip demand by 1.2 million barrels per day in the second half of 2025, contrary to the same period in 2024 when demand exceeded supply, followed by a surplus of 800,000 barrels per day in 2026.
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Stock Market LIVE Updates: GIFT Nifty muted; Trump shifts tariff deadline to Aug 1, Dow futures slip
Sensex today | Stock Market LIVE Updates, July 7, 2025: The Trump administration said on Sunday that tariffs will be enforced starting August 1 for countries that haven't finalised an agreement 7:22 AM Stock Market LIVE Updates: US stock futures fall Stock Market LIVE Updates: US stock futures fell Sunday night after President Donald Trump confirmed that tariffs are set to go into effect August 1, not July 9. Dow Jones Industrial Average futures slid by 146 points, or 0.32 per cent. S&P 500 futures and Nasdaq 100 futures dipped 0.39 per cent and 0.42 per cent, respectively. US markets were closed on Friday. 7:19 AM Stock Market LIVE Updates: Asia Pacific markets trade lower; Japan, Hang Seng top drags Stock Market LIVE Updates: Equity markets in the Asia Pacific region were trading lower on Monday, July 7, as investors assessed Trump administration's latest decision to extend the tariff deadline to August 1 for those countries that are yet to strike a trade deal with the US. This implies, the countries that have signed trade deal, including the UK, China, and Vietnam, will have new tariff rates kicking in from July 9. For others, Trump has extended the deadline by a month. Japan's Nikkei was down 0.56 per cent, Hong Kong's Hang Seng fell 0.36 per cent, China's CSI300 0.12 per cent, and Australia's ASX200 0.07 per cent.
Mint
an hour ago
- Mint
How America's economy is dodging disaster
Economic doom beckoned after President Donald Trump announced his 'Liberation Day" tariffs on April 2nd. Stocks crashed; forecasters predicted a recession within the year. Three months on, the mood is rather more relaxed. Prices in shops are not noticeably higher, unemployment is flat and the S&P 500 index is resurgent, back at all-time highs. Mr Trump's 90-day pause for many of his tariffs, announced a week after Liberation Day to calm markets, will end on July 9th. Although he has threatened to send letters declaring talks over and tariffs back on, nobody seems too worried. What gives? Was the president right in thinking that tariffs were a smart way to squeeze money from foreigners? Were the doommongers overdoing it? For the moment, businesses, households and financial markets are locked in an elaborate game of wait-and-see. Companies stocked up heavily early in the year in anticipation of tariffs. Indeed, they did so by enough to drag measured GDP growth into the red in the first quarter, as a surge of imports distorted the numbers. These stockpiles will be run down. In many cases, they are already being depleted, meaning that businesses are turning again to imports. Last month customs duties were more than three times as high as the average in recent years (see chart 1). Companies that bring in goods from abroad now face an unpalatable choice: either they can eat the tariffs and accept lower profits, or they can pass the additional costs on to consumers. So far, they have mostly chosen the first option. Bosses are attempting to wait out the president. Why alienate customers with higher prices if Mr Trump might change his mind and render the exercise pointless? Even in the latest consumer-price data, which still shows inflation a little above the Federal Reserve's target of 2%, it is difficult to spot a tariff impact. In fact, doing so requires an economic microscope. Zooming in on the prices of affected categories at a few large retailers, Alberto Cavallo of Harvard Business School and co-authors do discern some slight price rises in both imported goods and their domestically produced competitors (see chart 2). However, such prices have risen by only a percent or two—a far smaller increase than that seen in tariffs. America's effective tariff rate is now at 12%, according to calculations by the Tax Foundation, a think-tank, its highest in nearly a century. Reverting to Mr Trump's initial Liberation Day offering would mean a significant step up. Oddly, though, tariffs may be pushing down prices via another mechanism—by taking a toll on the economy. The Liberation Day drama crushed consumer confidence, possibly softening demand. Until recently, this has been evident only in 'soft" data (surveys and the like). Now signs of it are starting to appear in 'hard" data, too. A recent release showed that household spending fell month-to-month in May. Employment figures for June were strong, but bolstered by government hiring, especially of teachers. Those for the private sector were lower than expected. A running estimate of GDP, produced by the Fed's Atlanta branch, suggests that its core components (private investment and consumption) have fallen from an annualised growth rate of 2-3% at the start of the second quarter to 1% now (see chart 3). Goldman Sachs, a bank, has compared the latest data to previous 'event driven" shocks that led to recessions, and found that today's slowdown is roughly in line with the historical norm. Whether this is the start of something more serious depends, in large part, on how punchy the president feels on July 9th. Without a deadline extension or similar, and especially if Mr Trump doubles down on tariffs, a further slowdown seems likely. As Britain discovered after Brexit—the most recent case of a rich country imposing large trade barriers on itself—elevated uncertainty can by itself be sufficient to suppress business investment for quite some time. And America is now an extremely uncertain country (see chart 4). All the same, a worse slowdown does not necessarily mean a recession. Tariffs are colliding with an economy that is, by any historical or international standard, extraordinarily dynamic. It has been growing at a consistent 2-3% a year since 2022. As a consequence, America is one of the few rich countries that might be able to shoulder even a big hit to growth and still dodge recession. The additional stimulus in Mr Trump's 'Big, Beautiful Bill" is also front-loaded, meaning that it will provide a boost this year and next, which could help obscure the impact of tariffs (even if it also creates an inflationary mess for the Fed to handle). All of this suggests a future in which economists endlessly debate the true impact of the tariffs, while the American public barely notices them, despite having been left poorer. Not a triumph for Mr Trump—but not a disaster either.
