Open Now
Open Now
Watch now

Son of Nancy Pelosi, who traveled to Taiwan with her, is an investor in a Chinese IT company

A report on Thursday said that House Speaker Nancy Pelosi's son has a stake in a Chinese tech company. He went with his mother on her controversial trip to Taiwan last week, where she criticized China for threatening moves toward the self-ruled island.

Paul Pelosi Jr. got 700,000 shares of Borqs Technologies as payment for his services. When other company insiders sold their shares in June 2021, according to SEC filings cited by the Daily Mail, Pelosi Jr. became the second-largest investor after CEO Pat Sek Yuen Chan.

As of March 2022, Pelosi Jr. still owned about 147,000 shares, which was about 0.07% of the shares that were still out there.

The report said that Pelosi Jr., who is 53 years old, also worked as a board of consultant for the company, which has a market value of about $22 million. ​

He went to Asia with his mother when she led a Democratic congressional delegation there. They visited South Korea, Singapore, Malaysia, Japan, and Taiwan, but his name wasn't on the official list of officials on the trip that was released by the speaker's office.

Pelosi (D-California), who has been critical of China's treatment of human rights for a long time, said that the U.S. is "unwaveringly committed to supporting Taiwan's vibrant democracy" while she was in Taiwan.

This photo taken on August 5, 2022 shows US House Speaker Nancy Pelosi (front C), US Ambassador to Japan Rahm Emanuel (front L), US Rep. Raja Krishnamoorthi (front R) and other visiting members of the US Congress attending a plenary session of the Diet, the country's parliament, at the National Diet building in Tokyo.
​​Paul Pelosi Jr. joined his mother, House Speaker Nancy Pelosi, on her controversial trip to Taiwan.
JIJI Press/AFP via Getty Images

“America’s solidarity with the 23 million people of Taiwan is more important today than ever, as the world faces a choice between autocracy and democracy,” she said in a statement.

China responded to Pelosi's trip to Taiwan by extending military drills in the Strait of Taiwan. Pelosi was the highest-ranking US elected official to visit the island since House Speaker Newt Gingrich in 1997.

Beijing also said it would punish Pelosi and end or stop talks with the US about climate change, military ties, and anti-drug efforts.

Speaker of the U.S. House Of Representatives Nancy Pelosi (D-CA), center left, meets Taiwan's President Tsai Ing-wen.
Paul Pelosi Jr. still owns about 147,000 shares of Borqs Technologies.
Chien Chih-Hung/Office of The President via Getty Images)
U.S. House of Representatives Speaker Nancy Pelosi visits Japan's Parliament in Tokyo, Japan August 5, 2022.
Pelosi Jr. joined his mother as she led a Democratic congressional delegation to Asia that included stops in South Korea, Singapore, Malaysia, Japan and Taiwan.
REUTERS/Issei Kato
U.S. House of Representatives Speaker Nancy Pelosi visits Japan's Parliament in Tokyo, Japan August 5, 2022.
Pelosi Jr.’s name wasn’t included in the official list of officials on the trip released by the speaker’s office.
REUTERS/Issei Kato

China thinks that Taiwan, which is self-governed, is part of its sovereign territory, and it has threatened to reunify the country, even if it means using force.

A spokesman for the speaker's office said that there are 10 people with more shares than her son, who now has about 43,000.

“Per decades-old policy, spouses and adult children are allowed to travel on Congressional delegations for representational purposes at no expense to the taxpayer​,” the spokesman said.


Follow us on Google News