House Minority Leader Nancy Pelosi's wealth grows 62% to $35.2M

Oct 8, 2005
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Reality
#1
What recession?

House Minority Leader Nancy Pelosi's net worth skyrocketed 62% last year, to a jaw-dropping $35.2 million, according to financial disclosure forms released Wednesday.

Pelosi, the former House speaker, wasn't alone.

The California Democrat's gavel-gripping successor, Republican John Boehner, also saw his wealth get a boost, with the Ohio GOPer's net worth increasing from $1.8 million in 2009 to $2.1 million last year.

Pelosi's drastic growth, from an initial $21.7 million in 2009, is attributed to recent stock gains and smart investments. Her husband reported raking in $1 million to $5 million last year from a sale of Apple stocks.

The couple also has a commercial property in San Francisco and a home in St. Helena, Calif., each valued between $5 million and $25 million. She also has a stake in some valuable residential real estate in Sacramento.
Boehner, too, has a portfolio of stocks in oil companies, financial firms, communication companies and pharmaceuticals.

None of the newly acquired cash violates congressional ethics rules, though members can't use their official positions for personal gain and are limited to earn a maximum of $26,100 outside Congress, personal investments are allowed.

All rank-and-file members of Congress received salaries of $174,000 last year. As speaker last year, Pelosi was paid $223,500, and House and Senate majority and minority leaders garnered $193,400.

Among the findings:

-- Darrell Issa (R-Calif), inventor of the Viper car alarm system, is among the richest members of Congress. He reported holdings of between $150 million and $500 million.

--Rep. Charles Rangel (D-N.Y.), who was censured by the House last year for failing to pay taxes on income from a villa in the Dominican Republic, sold the residence for $250,001 to $500,000.

-- Senate Majority Leader Harry Reid (D-Nev.) has a net worth of $3.4 million - a nearly 10% increase from 2009 to 2010.

-- Senate Republican Leader Mitch McConnell (R-Ky.) says he has a minimum net worth of $9.8 million, nearly a 30% increase from last year.

-- 101 House members and 20 senators were given extensions to file their forms. That includes No. 2 Senate Democrat Dick Durbin of Illinois, House Ways and Means Committee Chairman Dave Camp, (R-Mich.), House Appropriations Committee Chairman Hal Rogers (R-Ky.) and Tea Party presidential hopeful Michele Bachmann, (R-Minn.).

She should spread that wealth. What does she need all that money for?
 

VMS

Victim of high standards and low personal skills.
Apr 26, 2006
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#5
I never knew that about him.

And Pelosi's family and hubby have been in real estate for years.
Which is fine, and makes sense. But how did their real estate holdings, even if they're in crazy-high San Francisco, manage to not go down in net value with the real estate crisis?

Fuck, they're in commercial real estate. Commercial is getting fucked up the ass right now. All the news is about residential and people losing their homes because it's good copy and it's easier to feel sorry for individual home owners, but commercial real estate holdings are totally fucked right now. If you're in commercial real estate and renting out, unless your tenants are government entities (hmmmm...) you're sitting on a lot of vacancies right now. When commercial sits empty, your net worth crashes...
 

CousinDave

Registered User
Dec 11, 2007
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#6
Nancy owns hotels and restaurants - non union of course
 

MayrMeninoCrash

Liberal Psycopath
Dec 9, 2004
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#7
Fuck, they're in commercial real estate. Commercial is getting fucked up the ass right now. All the news is about residential and people losing their homes because it's good copy and it's easier to feel sorry for individual home owners, but commercial real estate holdings are totally fucked right now. If you're in commercial real estate and renting out, unless your tenants are government entities (hmmmm...) you're sitting on a lot of vacancies right now. When commercial sits empty, your net worth crashes...
"Commercial Real Estate" is a pretty broad term. I'm guessing she's got some pretty choice holdings, and we aren't talking about strip malls in Henderson, NV here.