Nancy Pelosi reveals her husband bought Amazon and Facebook stock worth $5.52 million

Nancy Pelosi reveals her husband bought Amazon and Facebook stock worth $5.52 million

- Paul Pelosi, husband of the Speaker of the United States House of Representatives, Nancy Pelosi, purchased Amazon and Facebook stocks in January 2020

- Reports say he purchased the stock at a price below the trending rates available on the market

- It has also been reported that Paul held options that were set to expire on January 17, 2020

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The Speaker of the United States House of Representatives, Nancy Pelosi, has stated that her husband, Paul Pelosi, purchased Amazon and Facebook stocks in January 2020.

According to her, Paul bought 3000 shares of Amazon and 5000 shares of Facebook.

Paul Pelosi, a businessman and an investor reportedly resorted to call options to buy the shares below the market price.

READ ALSO: 5 technology companies ordered by FTC to reveal their acquisition data

This, per a report by Business Insider, was possible because he holds stocks in both companies.

Amazon’s options had a strike price of $1,600, which is almost $300 below the official price Amazon shares were trading for the day.

That of Facebook were offered to him at a strike price of $140 as against the trending price of $150.

YEN.com.gh understands that Facebook traded around 37% above the lower strike price the day he exercised the calls.

Before the purchase, Paul Pelosi already held between $500,000 and $1 million in Facebook stock, reports say.

It has also been confirmed that Paul held options that were set to expire on January 17, 2020.

In other news, Vice President Dr. Mahamudu Bawumia, says all customers of defunct savings and loans and microfinance companies will be paid their locked up funds in full, including DKM customers who were affected in 2015.

This is the second time a high government official has made the assurance following a directive by President Akufo Addo to the Bank of Ghana and the Ministry of Finance, to provide liquidity for the customers to be paid.

The Private Enterprise Federation (PEF) has however criticized government for not paying the customers despite these directives.

READ ALSO: Battery packs: Tesla is in the lead and has left Porsche and GM behind

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Source: Yen

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