GLASS HOUSES: How Nancy Pelosi Became One of the Richest Member of the House


Nancy Pelosi hasn’t always been as wealthy as she is today, but then again before she wasn’t that rich, she wasn’t Speaker of the House. Her theme in the campaign to become Speaker was “The Republicans Culture of Corruption” but once installed as Speaker she took things to a whole new level.

In 2007, she forced through $25 million dollars to improve the port areas of San Francisco. That doesn’t sound all that corrupt until you learn that her husband owned 5 properties including apartment houses that increased greatly in value due to that project.

From Judicial Watch:

Rep. Nancy Pelosi (D-CA):  House Speaker Nancy Pelosi, who promised a new era of ethics enforcement in the House of Representatives, snuck a $25 million gift to her husband, Paul Pelosi, in a $15 billion Water Resources Development Act recently passed by Congress.  The pet project involved renovating ports in Speaker Pelosi’s home base of San Francisco.  Pelosi just happens to own apartment buildings near the areas targeted for improvement, and will almost certainly experience a significant boost in property value as a result of Pelosi’s earmark.  Earlier in the year, Pelosi found herself in hot water for demanding access to a luxury Air Force jet to ferry the Speaker and her entourage back and forth from San Francisco non-stop, in an unprecedented request which was wisely rejected by the Pentagon.  And under Pelosi’s leadership, the House ethics process remains essentially shut down – which protects members in both parties from accountability.

In 2009, Nancy Pelosi helped get  Eleni Tsakopoulos-Kounalakis an ambassadorship. Her father, Angelo Tsakopoulos, patriarch of a multimillion-dollar real estate development firm, then cut Paul Pelosi, Nancy’s husband into a land deal in which he invested between 1 and 5 million dollars in the late 1990s. It rapidly increased in value to between 5 and 25 million dollars. To make matters worse, Pelosi did not list the land on her disclosure forms for over 10 years and only did so then because the press discovered the deal.

Then comes a biggie. Pelosi and her husband were offered to buy into a VISA IPO. That’s is something rare especially for office holders. The year was 2006 and the Pelosi’s invested between 1 and 5 million in the stock which grew in value to a 203% profit in just two years. At the same time, there was a bill in front of the House that would have hurt her investment and she killed it. That’s odd because Pelosi had consistently railed against credit card companies. After the stock rose by triple, the Pelosi’s sold their holdings and then Pelosi brought the Visa bill back up and passed it with her blessing.

Today, Pelosi has an estimated wealth of :

According to the submissions of the non-partisan Center for Responsive Politics (CRP) which have prepared their estimates based on the facts and figures from public disclosures, the female politician’s average net worth has varied over the years. In the year 2004, CRP estimated Nancy’s net worth at $101,273,023.

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