Florida Gov. Ron DeSantis on Wednesday aimed at members of Congress over what he characterized as well-timed and unusually profitable stock trades, while singling out former House Speaker, Rep. Nancy Pelosi (D-Calif.) in his criticism.
“Suspiciously-Timed” Stock Trades
In a post on X, DeSantis called out the “suspiciously-timed” stock trades that seem to “generate windfall profits,” which he says has become a feature of the modern Congress.
He also highlights the fact that the portfolio of certain lawmakers outperforms even the most sophisticated fund managers. “Pelosi and company do better than the best investment funds in the world,” he says, before adding a note of sarcasm, saying, “Gee, I wonder why that is?”
DeSantis posted this while quoting his wife, Casey DeSantis’s post on the same topic. In her post, Casey says, “Serving in Congress should mean serving the people, not your stock portfolio.”
Traders In Congress Outperform Leading Fund Managers Amid Calls For A Ban
Pelosi and her husband, Paul Pelosi, witnessed a significant rise in their combined net worth in 2024, at $413 million, up from $370 million the prior year. A significant portion of this comes from their investment portfolio, which returned 54% in 2024 and 65% in 2023.
Other active traders in Congress have outperformed Pelosi by wide margins, with annualized returns ranging from 70% to 149%, amid growing calls for a ban.
However, Pelosi herself has backed a proposal to ban Congressional stock trading, coming out in support of a bill named “The HONEST Act,” which up until recently was called the PELOSI Act.
“If legislation is advanced to help restore trust in government and ensure that those in power are held to the highest ethical standards, then I am proud to support it,” she said, adding that she will back the proposal, “no matter what they decide to name.”
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