Nancy Pelosi’s Strategic Investment in Hospitality Thrives (With a Boost from COVID Relief Legislation She Supported)
Nancy Pelosi (D-Calif.) is not just married to one of the world’s top stock-pickers; she and her husband Paul also excel in real estate investments.
However, at times they require a touch of assistance.
The Pelosis have a stake in the Auberge de Soleil, a luxurious hotel located in California’s upscale Napa Valley, where nightly rates can reach up to $2,000 and clientele includes numerous celebrities.
Despite the prestige that comes with such an investment, the hotel did not perform well for several years, according to Pelosi’s own disclosure filings.
This must have been a letdown, especially since other Pelosi family investments—many in sectors Congress actively regulates—tend to thrive.
So successfully that they’ve inspired numerous feeds and apps aimed at replicating their success.
Moreover, there are claims that the Pelosis benefit from abundant relevant nonpublic information that Nancy, as a long-time legislator, has access to.
Let’s not overlook the fact that the hospitality industry is notoriously challenging for garnering substantial profits, especially during a sector-wide crisis like COVID.
Not to worry: This resilient duo of everyday financiers found a way to succeed!
In 2020 and 2021, COVID relief funds amounting to $9 million were funneled to the Auberge, leading to a surge in the Pelosi family income from the hotel investment to somewhere between $1 million and $5 million in 2021.
We are certain that Nancy’s significant ownership in a hotel had no influence on her strong advocacy for trillion-dollar stimulus packages, just as her share in a restaurant chain previously delivered lackluster results until it, too, was aided by COVID funding.
It must simply be the “golden Pelosi touch” that explains the reported 65% return on their disclosed trades in 2023.
Or perhaps the dramatic rise in Nancy’s net worth from a “modest” $18 million in 1991 to nearly $250 million last year.
Meanwhile, President Biden, arguably the weakest link in the administration, has started advocating for a ban on stock trading by members of Congress.
Indeed, Joe’s positioning on leveraging political influence for financial gain is . . . suspect.
Nonetheless, it is absolutely reasonable to restrict them to index funds.
However, it certainly appears that America requires more comprehensive regulations regarding investment activities by legislators—and a thorough investigation into all of the speaker emerita’s “fortunate” investments.
While it may be too late to place the Pelosis under arrest, publicly shaming them could help in crafting a system that discourages future political profiteering.