by WorldTribune Staff, December 20, 2024 Real World News
For many years, Nancy Pelosi and husband Paul rarely profited from their investment in Napa Valley's Auberge du Soleil, a swanky five-star hotel and spa which attracts A-list celebrities and tech moguls.
When the hotel, with rooms that go for up to $2,000 a night, did make a profit, it was generally around or below $100,000 a year.
Then came Covid, and the U.S. government bailouts that Pelosi, as speaker of the House, played a key role in getting passed.
In 2021, Pelosi’s ethics forms show that her family’s income from the resort surged to between $1 million to $5 million after the Auberge du Soleil received roughly $9 million from special taxpayer-funded emergency Covid relief programs.
"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," Sarah Arnold wrote for TownHall.com on Dec. 19.
The windfall is among several Covid bailouts that flowed to Pelosi-backed restaurants, hotels, and properties, including several Courtyard Marriott hotels.
According to a RealClearPolitics investigation, the Napa Valley hotel was not the only Pelosi-backed business venture to profit from Covid bailouts. Several restaurants, hotels, and properties the Pelosis invested in received taxpayer funds totaling $28 million.
Paul Pelosi's well-timed stock trades are notorious. Fortune magazine, among other outlets, has reported on his unusually high gains from trading call options for technology-related stocks.
The Pelosi household earned over 65% on trades last year, according to an analysis from Unusual Whales, one of several sites that track congressional trading activity. That record outshines even the most successful hedge fund managers.
Disclosures show Pelosi's net worth went from approximately $18 million in 1991 to nearly $250 million last year.
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