Richard Blumenthal (D., Conn.) and his wife Cynthia have a six-figure investment in a massive retail shopping complex in Shanghai that is part of a partnership between a Chinese government-controlled business consortium and Disney.
The Blumenthals have an investment of between $100,000 and $250,000 in U.S. Shanghai LLC, according to the senator’s annual financial disclosures.
U.S. Shanghai LLC is a subsidiary of Malkin Properties, a company owned by Blumenthal’s brother-in-law, Scott Malkin.
The company partnered in 2014 with the state-owned Shanghai Shendi Group to build Shanghai Village, a 592,000-square-foot luxury shopping resort next to Shanghai Disneyland.
The Blumenthals are also invested in U.S. Suzhou LLC, another Malkin-owned shopping center near Shanghai.
A spokeswoman for Blumenthal said the senator was unaware that he and his wife are invested in the venture until contacted for comment by the Washington Free Beacon.
Maria McElwain, a communications director for Blumenthal, said Blumenthal’s wife, Cynthia Malkin Blumenthal, is a passive investor in an investment vehicle controlled by her brother’s company.
McElwain said Cynthia Blumenthal “has no control, influence, or discretionary power” over the Shanghai investment. She also said the Blumenthals have not discussed the investment with Malkin.
The Free Beacon notes that Blumenthal is one of the richest members of the Senate and is up for reelection next year.
THAT’S HOW WEALTHY HE IS
“Blumenthal’s apparent lack of awareness of the investment is also a possible testament to his vast wealth,” the Free Beacon wrote.
Blumenthal is the one who was so worried that Donald Trump might be too invested in China — without any evidence. He was one of the senators who trashed Trump and protected China during the pandemic.
Richard Blumenthal, one of the richest members of the Senate, is so wealthy that he didn’t know he and his wife have a $100k-$250k investment in a Chinese govt-linked real estate venture until @FreeBeacon asked about it. https://t.co/riHvQGLqM1
— Chuck Ross (@ChuckRossDC) July 9, 2021
PELOSI’S BIG TECH INVESTMENT
Also today, we were told Speaker Pelosi’s husband bought $11 million in Big Tech stock in May and June.
This is according to a financial disclosure form filed July 2 and signed by the Democratic leader, The NY Post reported. The Washington Examiner, Yahoo, and The Epoch Times also reported the disclosures.
Paul Pelosi, who owns and operates a San Francisco-based real estate and consulting firm, bought 4,000 shares of Alphabet on June 18 at a strike price of $1,200, according to the report.
Per the disclosure form, Pelosi purchased 20 Amazon call options with a strike price of $3,000 and an expiration date of June 17, 2022, along with 50 Apple call options with a strike price of $100 and an expiration date of June 17, 2022.
These congresspeople get away with it if a family member is the one investing, or if they pretend they don’t know what they’re invested in.
This appearance of corruption or just corruption is coming from both sides of the aisle. For instance, we all know about Mitch McConnell and his wife.
Almost everyone who leaves Congress leaves with great wealth. This is NOT what the Founders wanted. The jobs were part-time with no pay.