Paul Pelosi: House Speaker's Husband Arrested for Alleged Drunk Driving
House Speaker Nancy Pelosi isn’t commenting on her husband Paul Pelosi’s arrest for allegedly drunk driving over the weekend. The news of his arrest was first reported by TMZ.
Nancy Pelosi was reportedly at Brown University in Rhode Island giving a commencement speech when Paul, 82, was involved in a two-car accident on May 28 near their Napa Valley home in California. According to reports from the California Highway Patrol (CHP), Paul was leaving a dinner party driving a 2021 Porsche when a 2014 Jeep hit his vehicle as he was attempting to cross State Route 29.
There were no injuries in the accident. A Napa County booking report shows Paul was charged with two misdemeanors — driving under the influence and driving with a blood alcohol content (BAC) level of 0.08 or higher, and his bail was set at $5,000. The driver of the Jeep wasn't charged.
“The speaker will not be commenting on this private matter, which occurred while she was on the East Coast,” Pelosi's spokesperson Drew Hammill told The New York Times.
The couple has been married since 1963. They own several residential and commercial real estate properties around the country, including a 16.55-acre vineyard in the Napa Valley.
Paul Pelosi is a millionaire investor.
Paul is a millionaire investor who owns the venture capital firm Financial Leasing Services, Inc. He's also the former owner of the now-defunct United Football League (UFL) team, the Sacramento Mountain Lions.
From all accounts, Paul is a savvy investor, and many retail investors pay attention to his stock picks. In July 2021, he made $5.3 million executing call options to buy 4,000 shares of Alphabet, the parent company of Google.
Nancy Pelosi disclosed her husband’s investments.
Earlier this year, Pelosi disclosed that her husband’s investments included $2.9 million worth of shares in Disney, Apple, Amex, and PayPal, Business Insider reports. Under the Stop Trading on Congressional Knowledge Act of 2012, otherwise known as the STOCK Act, members of Congress are required to report their stock transactions. The provisions of the STOCK Act also apply to family members of those in Congress.
An investigation found numerous lawmakers violated STOCK Act.
The “Conflicted Congress” investigation by Business Insider found that 63 lawmakers, both Republicans and Democrats, violated the STOCK Act by failing to report their investments properly. Although Pelosi wasn’t named in the investigation, it did call out one of her senior staff members.
The Pelosi’s net worth is estimated to be about $120 million, according to CelebrityNetWorth. Much of their wealth comes from their real estate and stock market investments.
Congress is considering banning lawmakers from trading stocks.
In January, former President Donald Trump said Pelosi should be banned from trading individual stocks. When Congress started throwing around the idea of a ban on stock trading for lawmakers, the House Speaker was initially against the idea but has since changed her mind on the subject, Business Insider reports.