In a Wednesday press conference, House Speaker Nancy Pelosi defended bringing her son along her recent trip to Taiwan and other Asian countries alongside other congress members.
Speaking to reporters on Capitol Hill, Pelosi said, "His role was to be my escort. Usually, we invited spouses, not all could come, but I had him come and I was proud he was there."
When asked whether her son, Paul Pelosi Jr. had any business dealings during the trip, Pelosi said, "of course, he did not."
According to the Daily Mail, Paul Pelosi Jr. is the second largest investor in a $22 million Chinese company called Borqs Technologies.
In Securities and Exchange Commission documents obtained by the outlet, it revealed that the younger Pelosi also worked for the telecoms company in either a board or consultancy role.
In return for his service to the company, he was awarded 700,000 shares, making him the fifth largest shareholder at the time. But after others sold their stock in June of 2021, Pelosi was elevated to the second highest investor, only topped by CEO Pat See Yuen Chan, and topping one of the company’s co-founders.
A later SEC filing from May of 2022 did not show Paul Pelosi Jr. listed amongst its top 10 shareholders, suggesting that he has slipped down their ranks since last year after a stock sale left him with 400,000 shares.
According to the Daily Mail, "A March 2022 letter submitted to the SEC suggested Pelosi Jr. was still a shareholder."
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