House Speaker Nancy Pelosi's son went with her to Taiwan but was not an official part of her entourage, speculation that he was into unknown business activities.
Pelosi on Business Trip to Taiwan
According to a recent Daily Mail article, House Speaker Nancy Pelosi's son Paul Pelosi Jr. is the second-largest investor in the Chinese telecom business Borqs Technologies.
Before traveling to Taiwan with his mother on a taxpayer-funded trip, the younger Pelosi kept his ownership of the $22 billion company a secret, reported RT.
Tseng Ming-Chung, the former chair of the island's financial supervisory commission, has sought to know the ruling Democratic Progressive Party's financial relationship with the Pelosi family and whether the congresswoman's visit was for business purposes, noted Republic World.
Another question is why Paul Pelosi Jr. is part of the group but unannounced or unexplained.
According to US Securities and Exchange Commission remarked data obtained by the Daily Mail, he is a shareholder in Borqs, a player in the Chinese internet-of-things and 5G sectors, but he has also acted as a consultant for the company as part of business activities.
Pelosi Jr. was awarded 700,000 shares in the company, at which point his holdings were surpassed only by CEO Pat Sek Yuen Chan.
Democrat Pelosi's son was spotted with Taiwanese President Tsai Ing-wen as well as other representatives from the disputed areas, despite not being recognized as a participant of the official delegation.
Nancy Pelosi's Delegation to Taiwan
Included in the delegation are Democratic Party allies they are Gregory Meeks, Suzan DelBene, Raja Krishamoorthi, and Andy Kim.
Beijing has sanctioned the family's speaker, calling her actions a massive provocation. The goals of the US Democrats are causing dangerous tension.
There was more to the mission, said pro-reunification scholar Chiu Yi. It was to increase the stock earnings of her spouse but avoid suspicion other than her official function.
Chiu added that her son was there to handle the financial concern of her husband, under the table activities had to be kept from everyone.
She even went so far as to claim that her son had no business dealings while traveling with her throughout the island. Chiu also mentioned that her son helps her husband operate the company in the US.
Apparently, a self-enriching trip to Taiwan is doubtful to erase the repeated allegations that the House speaker and her family have inappropriate proximity to Beijing.
According to a Taiwan observer cited by Global Times, the Pelosi family might well be establishing itself to serve as an intermediary for American businesses looking to set up factories in Taiwan.
A few days after Congress enacted a package to subsidize the US semiconductor industry, which sent chip stocks soaring, the representative visited a significant Taiwanese chip manufacturer.
Regarding Paul Pelosi Sr.'s trade on tech titans Apple, Amazon, and Alphabet last month, which gave them a windfall of more than $5 million, the Pelosi family was accused of insider trading.
The annual earnings of the House speaker are $223,500 annually in her government role, but her net worth is estimated as high as $252 million, according to her own financial disclosures.
Why Democrat Pelosi's son, Paul Jr., was part of the Taiwan delegation unannounced is suspected to be due to business activities and the family's interest.
