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Wednesday, June 15, 2011

Nancy Pelosi's Wealth Just Keeps Growing

Posted By on Wed, Jun 15, 2011 at 2:40 PM

What the hell does she know about being broke?
  • What the hell does she know about being broke?

While the rest of us have been languishing in what seems like a never-ending recession, one of top San Francisco lawmakers just keeps getting richer.

Congresswoman Nancy Pelosi's (D-San Francisco) personal wealth grew by 62 percent over the last year, making her one of the richest  politicians on Capitol Hill.

According to Washington news outlets, Pelosi is now worth some $35 million as of 2010, up from her net worth of $21 million in 2009. Pelosi reported $43.4 million in assets and about $8.2 million in liabilities.

To put that into context, House Speaker John Boehner (R-Ohio) is worth a measly $2.1 million.

So how is it that this wealthy pol keeps getting wealthier while unemployment remains at a staggering high? It seems the Minority House Speaker's husband, Paul, got lucky with some rising stocks and real estate investments that are paying off.

According to media outlets, Apple stock owned by her husband rose from $500,000 in 2009 to $1 million in 2010. He also invested more money in Matthews International Capital Management, which reportedly jumped from being worth $1 million in 2009 to $5 million in 2010. His other real estate investments in Sacramento also shot up to $5 million, according to The Hill.

Meanwhile, more than 2.5 million Californians, including Pelosi's constituents, don't have enough money to buy food.

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About The Author

Erin Sherbert

Erin Sherbert

Erin Sherbert was the Online News Editor for SF Weekly from 2010 to 2015. She's a Texas native and has a closet full of cowboy boots to prove it.


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