Nancy Pelosi was born in March 1940 in Baltimore, Maryland, the youngest of six children. Her father, Thomas D'Alesandro, Jr., served as both a U.S. congressman in Maryland and as the mayor of Baltimore.
In 1962 Pelosi graduated from Trinity College in Washington, DC, and then interned for Maryland's Democratic senator Daniel Brewster before moving, with her husband, to San Francisco in 1969.
Following her relocation, Pelosi became increasingly involved in politics. In 1977 she was elected Democratic Party chairwoman for northern California. Around that time, she befriended Phillip Burton, the Democrat congressman representing California’s Eighth District (which includes most of San Francisco). When Burton died in 1983, his wife, Sala, succeeded him in office. Three years later she was diagnosed with cancer and chose Pelosi to be her successor within the party, thereby assuring Pelosi the backing of the Burtons’ political allies.
Mrs. Burton died on February 1, 1987, just a month after she had begun her second full term in office. In a special election to determine who would fill Burton's now-empty House seat, Pelosi narrowly defeated San Francisco supervisor Harry Britt and took office on June 2, 1987. Since then, she has been re-elected every two years.
In 2001 Pelosi became House Minority Whip. The following year, she was named Democratic Leader of the House of Representatives, thereby becoming the first woman in American history to lead a major party in the U.S. Congress. After the landslide Democrat victories in the November 2006 mid-term elections, Pelosi was elected Speaker of the House.
In January 2007, after President Bush had announced his plan to increase troop levels in Iraq in an effort to stem the violence there, Pelosi, along with Senate Majority Leader Harry Reid, condemned the plan: "Adding more combat troops will only endanger more Americans and stretch our military to the breaking point for no strategic gain." Instead, Pelosi called for "the phased redeployment of our forces in the next four to six months."
Contrary to Pelosi's prediction, the troop surge proved to be immensely successful. Nonetheless, in February 2008 Pelosi declared the surge a “failure” that had “not produced the desired effect.”
On February 8, 2007, Pelosi appointed Joseph Onek, a senior policy analyst for George Soros's Open Society Institute, to be her senior counsel.
In April 2007 Pelosi traveled to Damascus to discuss foreign policy issues with Syrian President Bashar Assad. She made this trip against the wishes of President Bush, who said that it sent "mixed messages" and undermined U.S. policy vis a vis what he called "a state sponsor of terror." Pelosi's purpose for making the trip was to pressure the Bush administration to open up a direct dialogue with the Syrian government. After her meeting with Assad, the congresswoman told reporters: "We came in friendship, hope, and determined that the road to Damascus is a road to peace."
Former State Department official Robert F. Turner saw Pelosi's Damascus trip as a felonious violation of the Logan Act of 1798, which calls for a prison sentence of up to three years for any American who, "without authority of the United States," tries to influence a foreign government's behavior as regards any "disputes or controversies with the United States."
After her trip to Syria, Pelosi also told reporters: "[Our] meeting with the president [Assad] enabled us to communicate a message from [Israeli] Prime Minister Olmert that Israel was ready to engage in peace talks as well." But in fact, Olmert had conveyed no such sentiment. Israel's position remained what it always had been: its participation in peace talks with Syria was contingent upon the latter ending its support for terrorism.
In July 2008 Pelosi characterized President Bush as “a total failure” who had lost “all credibility with the American people on the war, on the economy, on energy, [and any other issue].”
In April 2009, Citizens Against Government Waste (CAGW), a non-partisan government watchdog group, named Pelosi and Senate Majority Leader Harry Reid as its 2008 “Porkers of the Year” because of what CAGW viewed as their consistent record of fiscal irresponsibility.
During the Bush administration, Pelosi characterized waterboarding -- an enhanced-interrogation technique which the CIA had used on a handful of high-value terrorist suspects -- as a form of torture that was wholly unacceptable to use under any circumstances. Moreover, she called for punitive action against those in the Bush administration who had deemed waterboarding appropriate. But in May 2009 it was learned that the CIA had actually briefed Pelosi as early as September 2002 about its use of waterboarding, and that Pelosi had never previously raised any objection. Pelosi respond to those reports by accusing the CIA of "misleading the Congress of the United States." "They mislead us all the time," she said.
In December 2009 Pelosi led at least 20 members of Congress (and many of their spouses and children) on an all-expenses-paid trip to attend a global-warming summit in Copenhagen, Denmark. The delegation was so large, that three military jets were required to transport its members. A number of senators and staffers also made the trip, courtesy of taxpayer dollars, via commercial airliners, and many of them stayed at 5-star hotels in Copenhagen. Although Pelosi was personally responsible for deciding who went the summit, she subsequently refused to answer any reporters' questions regarding the cost of the trip.
According to documents obtained under the Freedom of Information Act, during 2008-2009 Pelosi incurred expenses of some $2.1 million for her use of Air Force jets for travel -- including $101,429 for in-flight expenses such as food and alcohol. She regularly used Air Force aircraft to travel to her district at an average cost of $28,210.51 per flight. Of 103 Pelosi-led congressional delegations during the two-year period, 31 trips included members of her family.
In January 2010, when Pelosi and Senator Harry Reid were leading the rancorous process by which Democrats were seeking to pass healthcare reform, Pelosi articulated her determination to enact the new legislation: “You go through the gate. If the gate’s closed, you go over the fence. If the fence is too high, we’ll pole-vault in. If that doesn’t work, we’ll parachute in. But we’re going to get health care reform passed for the American people.”
In March 2010, Pelosi stated that she wished to avoid a House vote on healthcare reform because the legislation would surely be defeated in that chamber. “Nobody wants to vote for the Senate bill,” she said. Thus she supported the so-called "Slaughter solution." Under this plan, the House would vote on a procedural motion, that is, the “rule” that is supposed to govern debate on a matter going before the House. In this case a “self-executing rule” would be used that would “deem” the Senate version of ObamaCare to have been passed. Thus lawmakers would be able to vote to approve the Senate version of the healthcare legislation -- complete with unpopular add-ons such as Senator Ben Nelson’s "Cornhusker Kickback" and Senator Mary Landrieu’s "Louisiana Purchase" -- and then be able to tell their constituents that technically all they had done was approve a procedural motion.
Also in March 2010, Pelosi told the American public that healthcare reform would "be very, very exciting. But we have to pass the bill so that you can find out what is in it, away from the fog of the controversy."
That same month, Pelosi made reference to the fact that the healthcare bill she was seeking to pass was merely the first phase of a larger effort to bring about ever-greater government control over the American medical system: "My biggest fight has been between those who wanted to do something incremental and those who wanted to do something comprehensive. We won that fight, and once we kick through this door, there'll be more legislation to follow."
Shedding further light on what such additional legislation might entail, Pelosi said: "I have supported -- when I say support, [I mean] signs in the street, advocacy in legislatures -- I have supported single payer [i.e., a healthcare system run entirely by the federal government] for longer than many of you have been -- since you've been born, than you've lived on the face of the earth. So I think, I have always thought, that was the way to go."
In May 2010, Pelosi said the healthcare legislation was "an entrepreneurial bill, a bill that says to someone, if you want to be creative and be a musician or whatever, you can leave your work, focus on your talent, your skill, your passion, your aspirations because you will have health care.”
At the Catholic Community Conference on Capitol Hill on May 6, 2010, Pelosi said that she had told Catholic cardinals, archbishops, and bishops to speak about the importance of comprehensive "immigration reform" from their pulpits, and to tell their parishioners that "this is a manifestation of our living the gospels." At the same event, Pelosi suggested that her religious beliefs influenced her public policy decisions on issues such as immigration: "My favorite word is the Word, is the Word.... And ... we have to give voice to what that means in terms of public policy that would be in keeping with the values of the Word.
In July 2010, Pelosi stated that unemployemt insurance “is one of the biggest stimuluses to the economy.” “Economists will tell you,” she continued, “this money is spent quickly. It injects demand into the economy and is job-creating. It creates jobs faster than almost any other initiative you can name, because again, it is money that is needed for families to survive, and it is spent. So it has a double benefit. It helps those who've lost their jobs, but it also is a job creator.” Pelosi would reiterate these themes in December 2011.
In August 2010, Pelosi spoke out in favor of Faisal Abdul Rauf's Cordoba Initiative, a project to build a 13-story, $100 million Islamic Center just 600 feet from Ground Zero in lower Manhattan. Criticizing opponents of the project, Pelosi said: "There is no question that there is a concerted effort to make this a political issue by some. And I join those who have called for looking into how is this opposition to the mosque being funded [and] ginned up."
On May 3, 2011, after it was announced that U.S. Navy SEALs has located and killed al Qaeda leader Osama bin Laden, Pelosi said the following:
"The death of Osama bin Laden marks the most significant development in our fight against al-Qaeda.... I salute President Obama, his national security team, Director Panetta, our men and women in the intelligence community and military, and other nations who supported this effort for their leadership in achieving this major accomplishment.... [T]he death of Osama bin Laden is historic...."
Those remarks were a stark contrast to what Pelosi had said on September 7, 2006, when she derided President George W. Bush for allegedly having become distracted from the goal of finding bin Laden:
"[E]ven if [Osama bin Laden] is caught tomorrow, it is five years too late. He has done more damage the longer he has been out there. But, in fact, the damage that he has done, is done. And even to capture him now I don’t think makes us any safer."
In October 2011, Pelosi expressed support for the anti-capitalist Occupy Wall Street movement which was spreading to numerous cities across the United States. Said Pelosi:
" "God bless them for their spontaneity. It's independent ... it's young, it's spontaneous, and it's focused. And it's going to be effective.... The message of the protesters is a message for the establishment everyplace. No longer will the recklessness of some on Wall Street cause massive joblessness on Main Street."
In May 2012, Pelosi appointed Faiz Shakir, former member of the Harvard Islamic Society and longtime editor-in-chief of ThinkProgress, to be her senior advisor and media director.
On May 16, 2012, Pelosi headlined a high-dollar fundraiser that was attended by U.S.-based Islamist groups and individuals affiliated with Hamas and the Muslim Brotherhood. One of the donors at the event was Nihad Awad, co-founder of the Council on American-Islamic Relations.
In January 2013, Pelosi appointed Nadaem Elshami, her longtime communications director, to be her chief of staff. Elshami formerly worked for Senator Dick Durbin (D-IL) and socialist Representative Jan Schakowsky (D-IL). Elshami’s Egyptian mother, Zainab Elberry, is a Tennessee-based Muslim activist who lobbied for construction of a mega-mosque in Murfreesboro, Tennessee; supported the ouster of Egyptian President Hosni Mubarak; and helped organize the radical Islamic Center of Nashville.
In a February 10, 2013 television interview, Pelosi said it would be wrong for the federal government to cut funding for such items as education, science, and food safety. She characterized America's budget deficit "isn't so much a spending problem as it is a priorities [problem]" -- i.e., the items on which tax dollars are spent. In the same interview, she said it is "almost a false argument to say we have a spending problem"; rather, she explained, there was "a government deficit problem" -- the implication being that additional tax revenues were needed. The following day, White House spokesman Jay Carney was asked whether President Obama agreed with Pelosi's assertion. Carney replied, "Of course, the president believes that we have a spending problem," adding that the problem was "specifically driven" by health care spending.
In March 2013, Pelosi categorized tax breaks for businesses as forms of "spending" that needed to be cut:
"Tax cuts are spending. Our whole budget is what, $3.5 trillion? So, when we talk about reducing spending, we certainly must, and we certainly have--$1.6 trillion in the previous Congress, $1.2 of it in the Budget Control Act. But spending is subsidies for big oil, subsidies to send jobs overseas, breaks to send jobs overseas, breaks for corporate jets. They are called tax expenditures. Spending money on tax breaks. And that’s the spending that we must curtail as well."
At a June 6, 2013 press conference, Pelosi responded to news reports that, contrary to earlier claims by Barack Obama and Pelosi herself, Obamacare would cause health insurance premiums to rise dramatically for many people purchasing their own insurance in the individual market: "I don't remember saying that everybody in the country would have a lower premium." But in fact, during a on July 1, 2012 appearance on Meet The Press, Pelosi had stated that because of Obamacare "everybody will have lower rates."
At a June 2013 press conference, a Weekly Standard reporter asked Pelosi to clarify her position on abortion in the wake of the recent trial of Kermit Gosnell, an abortionist who was convicted of killing a number of newborn babies after they had survived attempted abortions. “What is the moral difference between what Dr. Gosnell did to a baby born alive at 23 weeks and aborting her moments before birth?” the reporter asked. Pelosi dismissed the question and equated Gosnell’s actions with pro-life activists’ condemnation of abortion. “What was done in Philadelphia was reprehensible and everybody condemned it,” she said. For them to decide to disrespect a judgment a woman makes about her reproductive health is reprehensible. Next question.” When pressed for an answer, Pelosi said: “As a practicing and respectful Catholic, this is sacred ground to me when we talk about this. I don’t think it should have anything to do with politics. And that’s where you’re taking it and I’m not going there.”
In response to Pelosi's comments, Father Frank Pavone, the national director of the pro-life group Priests for Life, wrote Pelosi an open letter saying:
“Public servants are supposed to be able to tell the difference between serving the public and killing the public. Apparently, you can’t. Otherwise, you would have been able to explain the difference between a legal medical procedure that kills a baby inside the womb and an act of murder.... Abortion is not sacred ground; it is sacrilegious ground. To imagine God giving the slightest approval to an act that dismembers a child he created is offensive to both faith and reason. And to say that a question about the difference between a legal medical procedure and murder should not ‘have anything to do with politics’ reveals a profound failure to understand your own political responsibilities, which start with the duty to secure the God-given right to life of every citizen. Whatever Catholic faith you claim to respect and practice, it is not the faith that the Catholic Church teaches. And I speak for countless Catholics when I say that it’s time for you to stop speaking as if it were.”
Also in 2013, Pelosi was one of 28 California congressional representatives (all Democrats) who supported the Trust Act, state legislation designed to make it more difficult to deport immigrants residing in the U.S. illegally. The 28 Democrats sent a letter to Governor Jerry Brown urging him to sign the bill if it reached his desk.
On September 3, 2013, Pelosi discussed the reasons why a U.S. military attack on Syria, where more than 100,000 people had already been killed during a 30-month civil war that continued to rage, was now justified by the fact that the Syrian regime had apparently used chemical weapons to kill some 1,400 people (including perhaps 400 children) on August 21. Pelosi told reporters:
"My five-year-old grandson, as I was leaving San Francisco yesterday, he said to me, Mimi, my name, Mimi: War with Syria. Are you yes war with Syria, [or] no war with Syria. Now he's five years old. And war, he's saying war. I mean, we're not talking about war; we're talking about an action. Yes war with Syria, no with war in Syria? I said, 'Well, what do you think?' He said, 'I think no war.' I said, 'Well, I generally agree with that, but you know, they have killed hundreds of children, they've killed hundreds of children.' And he said, five years old, 'Were these children in the United States?' And I said, 'No, but they're children wherever they are.'
"So I don't know what news he's listening to or -- but even a five year old child has to -- you know, with the wisdom of our interest, how does it affect our interest. Well, it affects our interests because, again, it was outside of the circle of civilized behavior. It was, humanity drew a line decades ago that i think if we ignore, we do so to the peril of many other people who could suffer."
In a September 22, 2013 interview with CNN, Pelosi stated that Republican-led efforts to rein in government spending were pointless because there was nothing left to cut in the $3.8 trillion federal budget. "The cupboard is bare," she said. "There’s no more cuts to make. It’s really important that people understand that. We cannot have cuts just for the sake of cuts."
In November 2013 -- amid immense public outrage over the fact that Obamacare regulations were, contrary to the repeated assurances of President Obama and the Democrats, forcing insurers to cancel the existing healthcare plans of millions of Americans -- Pelosi was asked whether she owed an apology to the formerly insured who had been misled. She replied, “Did I ever tell my constituents that if they liked their plan they could keep it? I would have if I’d ever met anybody who liked his or her plan. But that was not my experience.”
In a December 2013 interview with Telemundo, Pelosi said: “Our view of the law is that ... if somebody is here without sufficient documentation, that is not reason for deportation. If somebody has broken the law, committed a felony or something, that’s a different story.” Pelosi's position was contrary to federal law, which holds that those who are in the U.S. without authorization — either because they illegally crossed the border or they overstayed their visas — are deportable. Drew Hammill, Mrs. Pelosi’s spokesman, called the Speaker's comments “a restatement of her long-held belief that being an undocumented immigrant is not a basis for deportation.” Hammill also asserted that Pelosi wished to pass a new law legalizing illegal immigrants in order to put to rest all controversy about the matter. Pelosi added: “I think that there is discretion in the law as to the implementation, enforcement of the legislation that is calling for these deportations.”
On February 4, 2014, the Congressional Budget Office (CBO) released a report indicating that the Affordable Care Act (Obamacare) would result in a net loss of some 2.3 million jobs nationwide within seven years. The report said that because Obamacare gives substantial subsidies to people below certain income thresholds -- subsidies that are funded by all the people above those thresholds -- many Americans would choose to work less, or to not work at all, in order to limit their incomes and thus continue to have their healthcare subsidized. The Washington Post explained:
"After obtaining coverage under the health-care law, some workers will choose to forgo employment, the [CBO] report said, while others will voluntarily reduce their hours. That is because insurance subsidies under the law become less generous as income rises, so workers will have less incentive to work more or at all."
Later that day, Pelosi depicted the CBO report as something positive, telling reporters:
“What we see is that [thanks to Obamacare] people are leaving their jobs because they are no longer job-locked. They are following their aspirations to be a writer; to be self-employed; to start a business. This is the entrepreneurial piece. So it’s not going to cost jobs. It’s going to shift how people make a living and reach their aspirations.... [T]his was one of the goals. To give people life, a healthy life, liberty to pursue their happiness. And that liberty is to not be job-locked, but to follow their passion.”
In a February 5, 2014 news release, Pelosi again emphasized:
"Yesterday, the CBO projected that by 2021 the Affordable Care Act will enable more than 2 million workers to escape 'job-lock' -- the situation where workers remain tied to employers for access to health insurance benefits."
In an April 2014 interview with Politico, Pelosi likened the deportation of foreigners living illegally in the United States to the forced internment of some 110,000 ethnic-Japanese Americans during World War II. Said Pelosi.
“I’ll be very honest with you: Looking at the numbers at some point, in terms of how people are treated and deported and families separated and the rest, this has a scent of Japanese internment. It’s really a black mark.... I believe that if [immigration] status is the violation, then that should not be even in the scheme of things as to whether somebody would be deported or else you would be deporting 11 million people, which doesn’t make any sense.”
In June 2014 -- in the midst of a sudden, massive influx across America's southern border by more than 50,000 unaccompanied, illegal-immigrant minors hailing from Central America -- Pelosi visited a holding place (for the border-crossers) in southern Texas and then made the following remarks:
"What we just saw was so stunning. If you believe as we do that every child, every person, has a spark of divinity in them and is therefore worthy of respect, what we saw in those rooms was [a] dazzling, sparkling array of God's children, worthy of respect. So we have to use ... the crisis ... as an opportunity to show who we are as Americans, that we do respect people for their divinity and worth...."
Suggesting that America and Mexico were not entities entirely distinct from one another, Pelosi also said: "This is a community with a border going through it." Moreover, she indicated that she wanted to become personally involved with caring for the children: "I'm a mother of five. I have nine grandchildren. I wish that I could take all those children home with me."
In a July 2014 appearance on MSNBC's Morning Joe program, Pelosi addressed the issue of the young people who were illegally crossing the border into the U.S.: "I reference the Conference of Bishops' statement in which they say baby Jesus was a refugee from violence. Let us not turn away these children and send them back into a burning building. That's the bishops, so we have to do this in a way that honors our values but also protects our border and does so in a way that the American people understand more clearly."
Also in July 2014, Pelosi reacted angrily to the Supreme Court’s Hobby Lobby decision, which upheld the religious rights of companies not to offer health-insurance coverage for certain forms of birth control (i.e., "emergency contraception" that some people consider to be abortifacients). "That court decision was a frightening one," said Pelosi, "that five men should get down to specifics of whether a woman should use a diaphragm and [whether] she should pay for it herself, or her boss. It's not her boss' business. The business is whatever his business is, but it's not what contraception she uses."
Fox News coomentator Megyn Kelly subsequently offered her legal analysis of Pelosi’s attempt to “stoke resentment,” noting that in 1973 Roe v. Wade was decided by a majority of men:
“Does Ms. Pelosi think those justices were ill-equipped to fairly decide that case? Or is it only when a judge disagrees with Ms. Pelosi that his gender is an issue. If Speaker John Boehner made a similar comment about the female Supreme Court justices, Nancy Pelosi would be crying sexism – and that’s what she is guilty of here.”
Calling Pelosi’s claim a “gross misrepresentation,” Kelly added: "News flash: all birth control that was legal before this decision remains legal today. The high court simply found that a religious freedom law which was co-sponsored by none other than -- wait for it -- Nancy Pelosi, sometimes protects corporations from being forced to violate their religious beliefs."
In late July 2014, while the Israeli Defense Forces were engaged in a significant military operation designed to stop the terror group Hamas's relentless firing of potentially deadly rockets from Gaza into Israel, Pelosi was interviewed by CNN's Candy Crowley. In the course of that interview, Pelosi said that the U.S. must look to Qatar, a staunch ally and funder of Hamas, for advice in bringing the Palestinian-Israeli conflict to a peaceful end. Said the congresswoman: "[T]his has to be something where we try to have the two-state solution, that we have to support... [Palestinian Authority chairman Mahmoud] Abbas and his role as a leader there. We have to support Iron Dome to protect the Israelis from the missiles. We have to support the Palestinians and what they need. And we have to confer with the Qataris, who have told me over and over again that Hamas is a humanitarian organization, maybe they could use their influence to--" At that point, Crowley interrupted Pelosi to ask: "The U.S. thinks they're a terrorist organization though, correct? Do you?" Pelosi responded affirmatively: "Mmm hmm."
During a House debate on August 2, 2014, when Republican lawmakers moved to pass a border-security bill and legislation designed to end President Obama's Deferred Action for Childhood Arrivals (DACA) program, Pelosi reacted angrily to a floor speech from Rep. Tom Marino (R-Pennsylvania). "You know something that I find quite interesting about the other side?" Marino said. "Under the leadership of the former Speaker [Pelosi], and under the leadership of their former leader [Rep. Steny Hoyer (D-Maryland)] — when in 2009 and 2010, they had the House, the Senate and the White House, and they knew this problem existed. They didn’t have the strength to go after it back then. But now are trying to make a political issue out of it now."
Soon after Marino made those remarks, Pelosi stood up and shouted at him off-mic, wagging her finger at him and calling him an "insignificant person." Afterward, Marino said: "If she considers another elected member of Congress insignificant, I can only imagine what she thinks of the millions of hard working Americans who send us to Washington with the simple expectation that we work to secure our borders."
Using Her Political Influence to Manipulate Taxpayer Money and Enrich Herself
In August 2014, the Washington Free Beacon revealed how Pelosi for years had used her political influence to steer more than $1 billion in taxpayer funds to a real-estate-development deal that had greatly enriched her and her husband, Paul. The details are as follows:
The Pelosis have long had a close financial relationship with Marc Benioff, the CEO of an enormous cloud-computing corporation called Salesforce. In addition to his work with Salesforce, Benioff is also a Democratic Party mega-donor who not only bundled some $500 million for President Barack Obama’s presidential reelection campaign in 2012, but also donated an additional $300,000 to Democratic candidates, party organs, and interest groups. Nancy Pelosi and her PAC have been among the recipients of Benioff's many donations.
Paul Pelosi has been a longtime major shareholder in Salesforce. He first invested in the company in 2000, when he purchased between $15,000 and $50,000 in stock in a private offering four years before Salesforce's Initial Public Offering. Then, on June 23, 2004, Salesforce debuted on the stock market at a modest $3.75 per share.
Meanwhile, in a 2004 real estate deal, Farallon Capital Management, the San Francisco hedge fund established by billionaire environmentalist and Pelosi supporter Tom Steyer, took ownership of approximately 2 million square feet of commercial space in San Francisco’s Mission Bay neighborhood. Over the next 10 years, Pelosi worked tirelessly to steer well over a billion federal taxpayer dollars – in the form of earmarks, federal funding agreements, and stimulus disbursements – to a project aimed at expanding the city’s Third Street Light Rail line in that same Mission Bay locale. This expanded rail line, which went into operation in early 2007, caused the value of Mission Bay real estate to skyrocket.
Notably, two stops along the extended light rail line were situated approximately three blocks from a four-story office building owned by Paul Pelosi -- a property that generates between $100,000 and $1 million in rental income for Pelosi each year. According to the National Association of Realtors (NAR), high-quality mass transit like the Third Street Light Rail line can increase property values by “over 150 percent,” particularly if those properties are located near the rail. “There’s a sweet spot for obtaining the maximum transit premium: two to four blocks away is ideal,” says NAR.
In 2010, the aforementioned Salesforce – the company in which Paul Pelosi has long been heavily invested – paid $278 million to purchase 14 acres of land in Mission Bay, within 3 or 4 blocks of the expanded Rail line, with the intention of building a new campus there. The seller was Alexandria Real Estate Equities, which had previously purchased the land from FOCIL-MB, a division of Farallon Capital Management.
In the fall of 2012, Pelosi managed to secure an astounding $967 million in federal funding for the Third Street light rail project. Just over a year-and-a-half later -- in April 2014 -- Salesforce, abandoning its original plan to construct a new facility in Mission Bay, sold its Mission Bay land to the Golden State Warriors of the National Basketball Association for a large profit over and above what it had paid in 2010. This meant a massive financial gain for Salesforce and its investors, one of whom was (and still is) Pelosi’s husband. As of mid-August of 2014, Salesforce was trading at almost $53 per share – roughly a sixteen-fold increase over its original price. Paul Pelosi's stake in the company at that time was worth between $500,000 and $1 million.
Pelosi, whose family has a net worth of more than $25 million, is one of the wealthiest members of Congress. According to her 2011 financial disclosure statement, Pelosi received between $1 million and $5 million in partnership income from Matthews International Capital Management LLC, a group that touts its “singular focus on investing in Asia.”
Pelosi's Record in Congress
Pelosi is a member of the socialist-leaning Congressional Progressive Caucus, to whose executive committee she was named in 2002. For an overview of Pelosi’s policy positions and voting record on key pieces of legislation during her years in the House of Representatives, click here.