Nancy Pelosi's $160 million net worth stems from real estate investments and blue-chip stock holdings
Nancy Pelosi has made quite the name for herself as a career politician who has been in and around Capitol Hill for more than three decades, continuing a legacy that was first established by her father Thomas D'Alesandro Jr and brother Thomas J. D'Alesandro III, who both served as the mayors of Baltimore.
Pelosi became the first woman to lead a party in Congress when she led House Democrats in 2003 and then became the highest-ranking female elected official in United States history when she became the Speaker of the House in 2007.
When the Democrats won back control of the House in the 2018 elections, Pelosi was re-elected to the role of speaker, which means she is currently second in the presidential line of succession, immediately after the vice president.
But despite the lofty status and undeniable achievements, the 80-year-old is said to be considered by her own party members as a "rich and arrogant limousine liberal" who is "out of touch" with regular people, according to a new biography.
It also says that, until her entry into politics, she lived a "cosseted life" in the wealthy and exclusive Presidio Terrace neighborhood, where she was "pampered" and had "elite friends."
Written by TIME's national political correspondent Molly Ball, the new book, titled 'Pelosi,' states that Pelosi is thought of as somebody who "looks down on the unwashed masses from her San Francisco mansion (or DC penthouse)."
She reportedly owns a vineyard in Napa where she hosts weekend parties attended by the likes of former Google chief executive Eric Schmidt. That vineyard is said to be worth anywhere between $5 million and $25 million, with the sale of the grapes alone earning the couple between $5,001 and $15,000.
She also rents another property in Napa Valley worth up to $1 million and collects up to $50,000 in rent from another townhouse near the Sugar Bowl Ski Resort worth between $1 million and $5 million.
Indeed, Pelosi is as wealthy as they come, and if her financial disclosure forms from 2014 are to be believed, she is worth somewhere between the region of $43.4 million and $257 million. That would make her one of the richest current members of the United States Congress.
But how did she earn all this money from the position of a public servant?
When she first started out in politics, the full-year salary for a rank-and-file member of Congress was $89,500. Currently, she earns $223,500 a year. Adding up the numbers and accounting for small discrepancies because of changes in salary in between, she should have earned around $5.5 million.
So, where did the rest of the $252 million come from? Is it that she earned it via some corrupt means? As much as that would make for a great headline, that disclosure form from 2014 included her assets, as well as liabilities such as mortgages.
Both categories were listed in broad ranges — a minimum and a maximum for each asset and liability in their portfolio — and they include the holdings of both the members of Congress and their spouses.
And therein lies the answer. Her wealth stems primarily from her marriage to multimillionaire Paul Pelosi, who has been a prominent businessman in real estate and venture capital for decades.They have made investments into a mix of real estate, partnerships, and blue-chip stock holdings, including Apple ($500,0001), Facebook ($500,001), Visa ($1,000,001), Walt Disney Co. ($1,000,001), Comcast ($500,001), and Union Bank of California ($250,001).
With the total value of all the assets adding up to $257 million, and the liabilities to $97 million, Pelosi's maximum net worth would be around $160 million.