There may be no politician in history as corrupt as Nancy Pelosi.
With an estimated net worth of $120 million, she has cashed in big on her status.
And now Nancy Pelosi is in hot water after this jaw-dropping news came out.
Nancy Pelosi is one of the richest politicians in history.
While much of her wealth comes from real estate, a huge chunk comes through investments made by her and her husband, Paul.
Considering her status within the government, she is privy to information that can be used to influence her stock portfolio.
And just this week it came out that she may have used information she learned from her position to make big money on the stock market.
Her husband, Paul Pelosi, bought Amazon call options just weeks before the Pentagon announced it was canceling a multi-billion dollar contract with Microsoft, with Amazon being a top contender for taking it over.
The Biden Administration made the unexpected announcement on Tuesday, stating that it was canceling its multi-billion dollar JEDI cloud services contract.
In the announcement, they specifically name Amazon as a top competitor:
“The Department intends to seek proposals from a limited number of sources, namely the Microsoft Corporation (Microsoft) and Amazon Web Services (AWS), as available market research indicates that these two vendors are the only Cloud Service Providers (CSPs) capable of meeting the Department’s requirements. However, as noted in its Pre-Solicitation Notice, the Department will immediately engage with industry and continue its market research to determine whether any other U.S.-based hyperscale CSPs can also meet the DoD’s requirements. If so, those Department will also negotiate with those companies.”
Amazon has long been favored to win the JEDI contract, but was awarded to Microsoft in 2019.
The company sued the Trump Administration for the decision, arguing that they lost due to President Donald Trump’s dislike of Amazon CEO Jeff Bezos.
Ultimately, a Pentagon inspector general report found that Trump did not interfere in the decision.
So now Amazon is the most likely recipient of the contract, which would be a huge boost to the company.
After the announcement, Amazon’s stock prices closed at a record high of $3,675.74, topping its previous closing record of $3,531.45.
By making a call option six weeks ago, the Pelosis were able to cash in big time.
On May 21, Paul Pelosi bought the call options, worth between $500,001 and $1 million, according to the latest financial disclosures filed by the House Speaker.
Call options are only able to make money when a stock rises.
So with the huge boost following the Biden Administration’s announcement, Nancy Pelosi had a great day financially.