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How did Pelosi triple her net worth in two years?

Discussion in 'American Politics' started by hislegacy, Feb 11, 2019 at 4:51 PM.

  1. hislegacy

    hislegacy This is me.

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    Nancy Pelosi- Net Worth - Personal Finances

    She makes 190,000 a year for about 30 years and yet she is worth over 100,000,000. And her worth going from 31,000,000 to 101,000,000 from 2008 to 2010.

    How did that happen?

    I honestly cannot find out how.
     
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  2. JosephZ

    JosephZ Active Member

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    I doubt her net worth is anywhere near $100 million, but she made her money in real estate investments.
     
  3. USincognito

    USincognito Do u? Supporter

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    Golly. You'd think if she'd done anything untoward someone might have called the FBI or a Republican run Congress might have investigated at some point between Jan. 2011 and Jan. 2019.
     
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  4. Darkhorse

    Darkhorse just horsing around

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    Simple: "lucky" investments, just like Hillary. o_O
     
  5. Basil the Great

    Basil the Great Well-Known Member Supporter

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    Perhaps Madam Speaker won the lottery?
     
  6. whatbogsends

    whatbogsends Senior Veteran

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    You might want to dig into the "Assets" page on that site. How they calculate net worth appears to be by averaging the "Minimum" and "Maximum" values for their listed assets. Assets appear to be placed into highly arbitrary groups. Most of her assets range from $1-5 million or $5-25 million (pretty wide ranges).

    I'd wager that several of her assets were in the $4 million range in 2008-9, and then went into the $6 million range in 2010 when her net worth "jumped", and they went from being projected at $3.5 million assets up to $15 million (an $11.5 million increase) assets despite only increasing in value closer to $2 million.

    I'd attribute the large "leap" by Pelosi from 2008-2010 as poor methodology by the website guessing at her net worth.
     
  7. ThatRobGuy

    ThatRobGuy Programmer Extraordinaire Supporter

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    Couple obvious things you're missing... Speaker of the house makes more than the base congressional salary. They make $223,500/year.

    She's been speaker more than once.

    She's also held other "special" positions in congress that pay more than the base rate.

    You also have to look at who she's married to
    Paul Pelosi - Wikipedia

    He's a Harvard Educated businessman who's been a chair on the board for Georgetown university for a decade, and owns a real estate investment firm.

    You have a lifelong member of congress who's been earning a well-over-sixfigure salary for decades, married to a guy who a prominent venture capitalist and business owner.

    Are you that surprised she's rich?

    As other mentioned, review the assets section and how that's calculated...not only did it claim her net worth was nearly tripled...but it also claimed it got chopped in half from 2015 to 2016.

    Her actual net worth reported by various sources has her between $25 and $35 million...which is reasonable given her professional record combined with that of her husband (since jointly held properties are factored into that number)
     
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  8. rambot

    rambot Senior Member

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    Trump's tax cuts I guess?
     
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  9. Vylo

    Vylo Stick with the King!

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    Best guesses when it comes to politicians:

    1. Speaking fees. Pelosi isn't a great speech giver, but her influence might work for this.

    2. writing books Especially presidents. This is what made Obama his money. Probably one of the best and least corrupt things you can do as a politician to line your pockets.

    3. Insider trading.

    Now looking at Pelosi, she has a book, but the bulk of the money seems to come from investments, so #3 it is. Then again all the investments are in big name companies like Apple, so not much of an insider edge going on there.

    Edit: I just discovered that insider trading is now supposed to be illegal from the STOCK act in 2012, TIL
     
  10. Stanfordella

    Stanfordella The will to do, the soul to dare

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    I haven't devoted time to investigating or contemplating the matter but I know Nancy Pelosi and her husband, Paul, made smart real estate investments in California, so it is to be expected they'd reap the benefits. Mr. Pelosi owns and operates a San Francisco-based real estate and venture capital investment and consulting firm.
     
  11. Hank77

    Hank77 Well-Known Member Supporter

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  12. 2tim_215

    2tim_215 Well-Known Member Supporter

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    You ought to do a search on most politicians, past and present and would be surprised how wealthy they are and most have made investments in real estate just as Pelosi has, just as most of Trumps money has come from. Real Estate is where most of your wealthiest in individuals has come from.
     
    Last edited: Feb 12, 2019 at 1:34 PM
  13. GlabrousDory4

    GlabrousDory4 Well-Known Member

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    As I understand it she also made some use of a legal loophole that allows legislators to make trades in stocks that are also things that have business before the legislature.

    That is my biggest knock on Nancy. I don't like anyone using the offices to enrich themselves over what they already have and I understand she and her husband have some significant cash reserves.

    It disgusts me when people use public office (even legally) to enrich themselves.
     
  14. civilwarbuff

    civilwarbuff Well-Known Member

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    Did not know she was worth that much....no wonder she is against the left's income and wealth taxes...….
     
  15. Mountainmanbob

    Mountainmanbob Goat Whisperer Supporter

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    Same old story -- nothing new under the sun.
    She scratched their backs and they scratched hers.
    MB
     
  16. USincognito

    USincognito Do u? Supporter

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    Got any evidence? Or you just telling tales out of school?
     
  17. whatbogsends

    whatbogsends Senior Veteran

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    A) She's not. The website posted in the OP has very shoddy methodology in calculating net worth. See posts #6 & 7.

    B) Even by the website's own methodology, it shows Nancy's family (which includes her Real Estate Firm owner husband's net worth) dropped back from ~$100 million to $50 million in 2016. (again, as pointed out in posts 6 & 7), the wild fluctuations in net worth are due to a poor methodology in calculating net worth.
     
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  18. TLK Valentine

    TLK Valentine You will be who you will be. We are our choices.

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    Probably the same way Donald tripled his...
     
  19. ThatRobGuy

    ThatRobGuy Programmer Extraordinaire Supporter

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    No, they don't have any evidence lol...

    The underlying theme or slogan from a lot of the "anti-establishment" right-wing crew should be:
    "Getting filthy rich off of investments: It's only bad when liberals do it"
     
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