The son of Home Speaker Nancy Pelosi, who quietly accompanied his mom on final week’s controversial journey to Taiwan the place she known as out China for its threatening strikes towards the self-ruled island, holds a stake in a Chinese language know-how firm, in response to a report on Thursday.
Paul Pelosi Jr., who acquired 700,000 shares of Borqs Applied sciences as compensation for his companies, turned the second-largest investor after CEO Pat Sek Yuen Chan when different firm insiders bought their shares in June 2021, the Each day Mail reported, citing Safety and Trade Fee filings.
As of March 2022, Pelosi Jr. nonetheless owned round 147,000 shares — or about 0.07% of excellent shares.
The report stated Pelosi Jr., 53, additionally labored for the corporate, which has a market worth of about $22 million, in a board of consultancy position.
He traveled along with his mom as she led a Democratic congressional delegation to Asia that included stops in South Korea, Singapore, Malaysia, Japan and Taiwan, however his identify wasn’t included within the official checklist of officers on the journey launched by the speaker’s workplace.
Whereas in Taiwan, Pelosi (D-California), a longtime critic of China’s human rights abuses, voiced America’s “unwavering dedication to supporting Taiwan’s vibrant Democracy.”
“America’s solidarity with the 23 million folks of Taiwan is extra vital right this moment than ever, because the world faces a selection between autocracy and democracy,” she stated in an announcement.
China responded the go to by Pelosi, the highest-ranking US elected official to journey to the island since Home Speaker Newt Gingrich in 1997, by extending army workout routines within the Strait of Taiwan.
Beijing additionally introduced sanctions in opposition to Pelosi and stated it might cancel or droop talks with the US on local weather change, army relations and anti-drug efforts.
China believes Taiwan, which is self-ruled, to be a part of its sovereign territory and has threatened to reunify the nation — by drive if vital.
A spokesman for the speaker’s workplace stated there are 10 bigger shareholders than her son and that he now has about 43,000 shares.
“Per decades-old coverage, spouses and grownup kids are allowed to journey on Congressional delegations for representational functions at no expense to the taxpayer,” the spokesman stated.
