In June 2019, Facebook CEO Mark Zuckerberg did something extraordinary; he reached out to the Democrat House Minority leader Nancy Pelosi to apologize for a video that Facebook claimed was doctored to make the incoherent Democrat leader appear drunk.
Why would Mark Zuckerberg take time from his busy schedule to personally address one of many videos of Nancy Pelosi circulating on Facebook where she appears to be drunk? What’s in it for the guy who spent millions to affect the outcome of our elections in urban areas of critical swing states to ensure that Nancy doesn’t hold him responsible for a video that was shared on his platform? What about the millions of stories that circulated on Facebook about the phony Trump-Russia hoax? What about the video that attempts to make President Trump look like he was mocking a disabled reporter? And what about the highly edited video of Trump discussing the riots in Charlottesville that have been found to be distorted to make it appear that he was praising white supremacists? Did the Facebook CEO ever call Trump to apologize?
So, why the special treatment for Nancy Pelosi? And why is Nancy’s husband selling his shares in big tech stocks only days before his wife, arguably the most powerful woman in Congress, was moving to advance several anti-trust bills related to big tech only days after he cashed in on the shares?
New York Post reports – House Speaker Nancy Pelosi’s husband purchased upwards of $11 million in major tech stocks in May and June that quickly earned him over $5 million in profit-making the moves as his wife’s chamber ostensibly works to pass a series of bills reining in Big Tech.
Paul Pelosi, a venture capitalist with a net worth valued at over $100 million, exercised 40 call options to acquire 4,000 shares of Alphabet, the parent company of Google, at a $1,200 strike price, according to a financial disclosure report signed by the House speaker last Friday.
Exercising a call option allows investors to buy a stock at a later date at a pre-determined price, which that individual speculated the value would be beforehand. Pelosi’s call options for Alphabet, valued at $1,200 a share, were set to expire the day he sold them when the company was valued at $2,500 a share.
Paul Pelosi gained $4.8 million as an immediate result of the trade, though his returns have grown since the June 18 transaction to $5.3 million.
The disclosure report from Speaker Pelosi (D-Calif.) also revealed that her husband purchased 20 call options for Amazon at a strike price of $3,000 a share, as well as 50 call options for Apple for $100 a share, though he did not report exercising those trades.
Reached by The Post, Pelosi spokesman Drew Hamill denied any wrongdoing on the speaker’s part, saying she “has no involvement or prior knowledge of these transactions” and “does not own any stock.”
Paul Pelosi’s transactions are also not suspected of violating the STOCK Act, which makes it illegal for lawmakers and Capitol Hill staff to engage in insider trading.