Nov 18, 2022

Nancy Pelosi Leaves House Leadership Role With Millions More in Net Worth

The speaker of the House announced she would not seek reelection for congressional leadership, leaving behind a long political legacy and taking a vast amount of wealth with her.
Nancy Pelosi Leaves House Leadership Role With Millions More in Net Worth

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What's happening: After two decades in congressional leadership, Speaker Nancy Pelosi, 82, will be stepping aside. It's likely that Democratic Caucus Chair Hakeem Jeffries, 52, will succeed Pelosi as the House Democratic leader. Though Nancy is officially leaving leadership, House Democrats want her to stay heavily involved, and many expect her to.

Others stepping down: House Majority Leader Steny Hoyer, 83, and Majority Whip Jim Clyburn, 82, will also leave their leadership positions, opening up Democrat leadership to a younger generation.

Her financial legacy: Pelosi is the sixth-richest member of Congress. As Pelosi rose within the Democrat Party's ranks, her wealth increased drastically. While she was worth $41 million in 2004, that number rose to $115 million in 2018.

How? Nancy and Paul Pelosi made millions trading stocks in companies that Nancy regulated. Most of her most-traded stocks over the past years were in Silicon Valley giants that would have been most affected by the pending legislation she oversaw. In her last months as speaker, Pelosi indefinitely stopped a bill that would have banned individual stock trades for lawmakers.

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