Paul Pelosi, the multimillionaire husband of former House Speaker and current Rep. Nancy Pelosi, D-Calif., disclosed the sale of 30,000 shares of Google stock in December roughly one month prior to the Justice Department's antitrust lawsuit against the tech giant.
Nancy and Paul Pelosi attend the 23rd Annual Mark Twain Prize for American Humor at The Kennedy Center in Washington, D.C., on April 24, 2022.
"Google’s anticompetitive behavior has raised barriers to entry to artificially high levels, forced key competitors to abandon the market for ad tech tools, dissuaded potential competitors from joining the market, and left Google’s few remaining competitors marginalized and unfairly disadvantaged," the DOJ and the states allege.
The Pelosi family's stock transactions have attracted scrutiny in recent years. Prior to Congress' passage of the CHIPS Act last year, which was ultimately signed into law and provided a roughly $52 billion subsidy to boost domestic computer chip production, Paul Pelosi bought between $1 million and $5 million in shares of Nvidia.
Paul and Nancy Pelosi attend the 2018 White House Correspondents' Dinner at the Washington Hilton in Washington, D.C., on April 28, 2018.that she "does not own any stocks" and "has no prior knowledge or subsequent involvement in any transactions." The spokesman said that Pelosi asked the House committee tasked with regulating members' financial disclosures to "examine the issue of Members' unacceptable noncompliance with the reporting requirements in the STOCK Act, including the possibility of stiffening penalties." Legislation to ban members of Congress from trading stocks stalled at the end of the 117th Congress, although lawmakers have since reintroduced proposals on the subject.
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