Wednesday, March 3, 2021
Tesla Fact check: Nancy Pelosi’s husband’s investments unrelated to Joe Biden’s executive order

Fact check: Nancy Pelosi’s husband’s investments unrelated to Joe Biden’s executive order

Fact check: Nancy Pelosi’s husband’s investments unrelated to Joe Biden’s executive order

Published 4: 10 p.m. ET Feb. 16, 2021 | Updated 4: 11 p.m. ET Feb. 16, 2021


Nancy Pelosi says she’ll sponsor regulations awarding the Congressional Gold Medal to the U.S. Capitol Police and other law enforcement officers who obtain the Capitol as it became once overrun by supporters of broken-down President Donald Trump. (Feb. 11)

AP Domestic

The claim: Pelosi bought $1 million in Tesla stock, Biden bought 645,000 electrical vehicles 

The predominant month of President Joe Biden’s administration has been a busy one, centering round COVID-19 relief and confirming cabinet confirmations, all while the historic 2nd impeachment of broken-down President Donald Trump performed out in the background. 

No topic measures from gargantuan tech social media companies, cherish Twitter and Facebook, to clamp down on misinformation by banning accounts that platform falsehoods, conspiracy theories relating to the unique administration are silent making the rounds.

Recently, there became once confusion and misinformation surrounding Biden’s exercise of executive orders. The misinformation extends to other eminent Democrats. As an instance, social media users had been speculating that about a of Biden’s executive actions, cherish his Jan. 25 “Rob American” executive show, influenced Condo Speaker Nancy Pelosi’s funding selections.

One Facebook submit claimed, “Pelosi Sold $1 Million In Tesla Stock…Biden Appropriate Announced Shopping 645,000 Electrical Vehicles. Can You Smell the Corruption YET .!” The submit has over 5,100 shares.

USA TODAY has reached out to the poster for commentary.

Extra: Truth check: Old claim linking politicians’ sons to Ukraine is partly false

Biden’s executive show on electrical vehicles

The Facebook submit looks to reference an announcement made by Biden when he became once signing his “Rob American” executive show — which encourages the manufacturing of products, products, materials and services and products in the U.S. —  on Jan. 25. 

“The federal authorities also owns an mountainous rapid of vehicles, which we’re going to change with super electrical vehicles made superb right here in The united states made by American staff,” he talked about.

Extra: Truth check: Posts about Biden’s executive orders, quote about dictators need context

Biden’s announcement did no longer encompass a timeline nor specifics on the manufacturing or manufacturing of the vehicles. On Jan. 27, he signed an executive show directing the transition to super, zero-emission vehicles.

Reuters reported that as of 2019, the authorities owned 650,000 vehicles, in accordance to the Overall Services Administration. Changing these vehicles could more than seemingly worth more than $20 billion. 

Investments allowed, but there are suggestions

With out proof, the Facebook submit linked Biden’s executive show to Pelosi’s investments, claiming that there became once corruption.

The Ethics in Government Act requires individuals of Congress to file transaction reviews after they — or their spouses or dependent kids — procure or sell stock or securities for any transaction that exceeds $1,000.

On Jan. 21, Pelosi filed a document with the Condo detailing her husband’s transactions with Tesla and other companies.

The document reveals that her husband, Paul Pelosi, bought 25 call alternate choices — a contract to procure a stock, without obligation, at a undeniable worth till a jam expiration date — of Tesla stock for between $500,001 and $1 million on Dec. 22, more than a month earlier than Biden signed the manager show in quiz.

Drew Hammill, Pelosi’s deputy chief of personnel, emphasized that the investments in quiz had been made by her husband and that, “The Speaker has no involvement or prior recordsdata of these transactions.”

The transaction document also entails the purchases of 20,000 shares of Alliance Bernstein stock, 100 call alternate choices of Apple stock and 100 call alternate choices of Walt Disney stock.

Participants of Congress are allowed to procure and make investments in shares, but the STOCK Act of 2012 prohibits them from utilizing recordsdata they gain got access to from their jobs in their investments.

Our ruling: Partly false

The claim in the submit has been rated PARTLY FALSE, in accordance to our be taught. It is purely that President Joe Biden signed an executive show that encourages the change of the authorities’s rapid of vehicles with electrical vehicles. The submit is false in its assertion that Condo Speaker Nancy Pelosi bought Tesla stock. Her husband purchased Tesla call alternate choices — with out a obligation to in point of fact purchase stock — more than a month earlier than Biden signed the manager show in quiz. Per the law, Nancy Pelosi submitted a routine document about her husband’s investments. The submit gives no proof to abet its assumption that the investments made by Pelosi’s husband had been the finish result of insider recordsdata from the Biden administration.

Our reality-check sources:

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Our reality check work is supported in share by a grant from Facebook.


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