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| Rep. Nancy Pelosi |
The wealth of House Democratic leader Nancy Pelosi grew more than $4 million last year thanks to gains on investments in her home base of California, according to new financial records.
Pelosi’s minimum net worth grew to about $28.6 million in 2013, with increases in several assets, including a boost of at least $250,000 in Comcast stock that is held by her husband, Paul Pelosi. The stock is worth at least a half million dollars.
Paul Pelosi also holds sock in Facebook that rose in value last year from at least $100,000 to a minimum of $250,000.
But most of the increase in the couple’s wealth came from a single investment called Russell Ranch LLC, which is described as an underdeveloped real estate investment in Sacramento, Calif. The investment’s value rose by at least $4 million.
The Pelosis also have a home and vineyard in Napa, Calif., that’s worth more than $5 million.
The forms do not provide a precise measurement of the congresswoman’s wealth, because lawmakers can report the value of their investments, bank accounts and loans in vast ranges, such as the $5 million to $25 million range.
Paul Pelosi is known for having a variety of eclectic investments, including a $5 million to $25 million stake in the Sacramento Mountain Lions, a team in the United Football League (UFL).
Last summer, five players of the Sacramento franchise sued, claiming Paul Pelosi owes them $250,000 in unpaid wages. The recent financial forms indicate that Paul lost anywhere from $100,000 to $1,000,000 of the millions he has invested in the team.
Pelosi also has an additional $5 million to $25 million invested in the league itself.
Nancy Pelosi is considerably richer than the Republican holding her former job, Speaker John Boehner (Ohio), who had a minimum net worth of about $2.3 million last year, according to a calculation by The Hill.
Read the full story: www.thehill.com
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