Former House Speaker Nancy Pelosi (D-CA) and her husband, Paul Pelosi, face scrutiny over financial gains reportedly linked to federal COVID-19 bailout programs. As Congress approved unprecedented relief measures to mitigate the economic fallout of the pandemic, questions have arisen about whether the Pelosis directly benefited from these policies, with critics pointing to Paul Pelosi’s investments and business interests. This has reignited debates about potential conflicts of interest and the transparency of lawmakers whose legislative actions intersect with personal financial gain.
Despite Auberge du Soleil, a swanky five-star hotel and spa perched on a Napa Valley hillside known for its clientele of A-list celebrities and tech moguls, charging $2,000 a night for a room, financial records suggest the hotel wasn’t exactly a goldmine for the two notable Democratic investors. That is, until 2020 and 2021, Congress approved millions of dollars in taxpayer-funded COVID-19 relief. This raised questions about the ethical implications of bailout policies benefiting politically connected elites.
According to Nancy Pelosi’s financial disclosure forms, the hotel rarely turned a profit, with some years recording a loss or a profit of between $50,000 and $100,000. However, in 2021, an ethics form showed that Pelosi’s income from the resort increased from $1 million to $5 million. The hotel, which has a panoramic view overlooking the vineyards of Napa Valley, benefited from the COVID-19 relief bailouts meant to help struggling businesses— not resorts that cater to the country’s most elite.
That year, Auberge du Soleil received roughly $9 million from special taxpayer-funded emergency relief programs.
According to a RealClearPolitics investigation, the hotel was not the only Pelosi-backed business venture to profit from COVID bailouts. Several restaurants, hotels, and properties also received federal kickbacks totaling $28 million.
Coincidentally (or not), Pelosi conducted all of the federal COVID stimulus measures, which totaled about $5.5 trillion. She then hit back at critics who opposed the spending, asserting that “Republicans seem to have an endless tolerance for other people's sadness.”
Per an analysis from Unusual Whales, the Pelosis earned more than 65 percent on trades in 2023, surpassing some of the top-performing hedge fund managers in the U.S. The lawmaker’s net worth went from just $18 million in 1991 to over $250 million in 32 years.
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