Grant Cardone recently gave his thoughts on Nancy Pelosi’s impressive $120 million net worth during a DJ Vlad interview, and as usual, it came with his trademark bluntness.
Cardone, a well-known real estate investor, didn’t hesitate when he wondered how someone with a civil servant salary of $179,000 could amass such a fortune. “I can’t calculate it,” he said, calculating that Pelosi would have to be more than 3,300 years old to build that wealth if she lived solely on her salary.
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But then he did the actual math using a calculator. After deducting taxes in California, he divided Pelosi’s wealth by her salary and determined that she had to be 1,500 years old to make $120 million.
Cardone’s tongue-in-cheek comment about Pelosi having to be “1,500 years old if she never spent a single cent” may have raised eyebrows. Still, it highlights something people have been curious about for a while: How does someone in a position like hers achieve such financial success? It’s no secret that Pelosi has a significant stock portfolio and that her transactions are closely watched. Some even claim she is one of the smartest investors in Congress.
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DJ Vlad noted that lawmakers could be investing for a long time based on inside information, such as upcoming legislation that could impact company stock prices. Although the laws have since changed to curb this practice, loopholes still exist. He said, “You could do it, but through a relative.”
While Cardone’s comments were worded humorously, they reflect broader concerns that many have had for years about lawmakers such as Pelosi’s financial activities.
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Pelosi has faced criticism for her stock trading, especially regarding investments related to sensitive information that may not be available to the general public. For example, she and her husband, Paul Pelosi, made headlines for their significant investments in technology companies like Nvidia. Despite selling their stock in Nvidia around the time the CHIPS Act was passed – a law she supported – their Nvidia stock would have increased in value by almost 200% if they had held on. Additionally, they made millions trading other blue chip stocks like Salesforce and Roblox, adding to the skepticism surrounding their investment strategies.
The timing of these trades has led to accusations of insider trading, with figures like Senator Josh Hawley introducing legislation – even dubbed the PELOSI Act – aimed at banning lawmakers from owning or trading stocks. This was in response to the belief that some elected officials may have used inside information to achieve financial gain.
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While Cardone may have used Pelosi as an example, he was quick to point out that this issue crosses party lines, with politicians on both sides benefiting from questionable financial moves. He even suggested that if he were president, he would change the rules to ensure that lawmakers could not earn a cent more than the average wage and that he would not be allowed to trade stocks at all.
Whether you agree with Cardone’s views or not, his comments shed light on a broader conversation about transparency in government and the financial benefits that come with political power. And as long as Pelosi’s dealings continue to make headlines, this conversation isn’t likely to go anywhere anytime soon.
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This article Grant Cardone Calculates Nancy Pelosi Would Have to Be ‘1,500 Years Old’ to Earn Her Net Worth of $120 Million with Current Salary originally appeared on Benzinga.com
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