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Little Nancy

1940.

79 years ago.

She was born in Baltimore to an Italian-American Catholic family.

She was the only girl of seven children: Thomas, Hector, Franklin, Nicholas, Joseph, and Ron. Politics was a family business. Her father, Tommy D’Alesandro, was a Democratic congressman and Baltimore mayor. Her brother Thomas would also go on to become mayor of Baltimore.

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Shy.

Religious.

Ambitious…

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As a devout Catholic, she attended Trinity College in Washington, D.C., where she met Paul from Georgetown. They became a couple, fell in love, and finally married in 1963. After some uneventful years in New York City, they eventually relocated to Paul’s hometown, San Francisco. Coincidently, her brother Ronald was a member of the City and County of San Francisco’s Board of Supervisors.

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Her name is Nancy Pelosi.

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Paul and Nancy had five kids together: Nancy, Christine, Jacqueline, Paul, and Alexandra. All born within six years. They were in mass-reproduction mode.

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Paul was a businessman, becoming involved in anything that could make money: real estate investments, financial leasing services, consulting, even becoming a tuna fish company shareholder. As a business genius, he also owned the Sacramento Mountain Lions football team. Unexpectedly, he lost $5 million dollars on that investment.  “No big deal, everybody makes mistakes,” he thought.  After all, he knew that one of the most important investments in life was to have a wife with connections.

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And so in 1987 Nancy ran for Congress and their real success story began.

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She already knew the old-school politics, learned from her father.  Back in the days, “Little Nancy” was in charge of the book in which her father kept track of favors done and owed.

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After Nancy’s election, the couple’s rise to the riches accelerated at lighting speed. While she was sitting in various House committees, Pelosis began to invest in various IPOs and to-be-moved-by-legislation stocks including Visa, Microsoft, Facebook, Apple, Disney, AT&T, Comcast, and Google among others. As one example, VISA offered Paul a VIP cut of its IPO at $44. A few days later, the Pelosis sold their thousands of their shares for $64. Coincidently, the legislation that Visa lobbied, passed later on. It came to a level that in 2012, Congress passed the STOCK Act (Stop Trading on Congressional Knowledge), which was aimed at stopping insider trading among members of Congress. They referred it as the “Pelosi provision.”

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But

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Nothing happened to her. Instead, she was elected Minority Leader for the 112th Congress. After that, whatever Pelosis touched turned into gold. And not only for the couple, but the entire family. Christine Pelosi became a Democratic strategist and a Superdelegate at the Democratic National Convention. Paul Pelosi Jr. became an investor and co-founder of Natural Blue Resources, which in 2014 was charged with securities fraud by the Securities and Exchange Commission.

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Nevertheless, Little Nancy’s political career was nothing but a success story. Her old-school-favor book trick was creating miracles. She was everywhere the eye could see: Representative (D-CA 12th District), Representative (D-CA 8th District), Representative (D-CA 5th District), Appropriations Committee, Permanent Select Committee on Intelligence, Congressional Progressive Caucus, Democratic Leader of the House of Representatives, Minority Leader, and eventually the prestigious Speaker of the United States House of Representatives.

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Her net worth in 1987 was $65,000 (inflation adjusted value: $146K).

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Her annual salary as the Speaker of the House of Representatives: $223,500.

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Her net worth in 2019:  $125,400,000

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Last Wednesday, House Speaker Nancy Pelosi used Special Counsel Robert Mueller’s first public remarks to push an anti-corruption bill.

What do you think?

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Written by Alex Mann

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