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Sara Jacobs stock sell-off could be as much as $2.8 million
Wealthy House Democrat dumps a raft of lucrative but controversial personal holdings.
Among former Jacobs holdings was an interest in AstraZeneca.
As the stock market reaches near record highs, wealthy House Democrat Sara Jacobs of San Diego unloaded a raft of personal shareholdings, some potentially controversial, per a May 28 Periodic Transaction Report filed with the Clerk of the House.
The transactions came on April 9, the report says.
The young congresswoman, an heiress to the Jacobs family fortune created by her grandfather Irwin's Qualcomm cell phone chip success, disclosed 41 separate sales transactions, all but three of which yielded capital gains of greater than $200, the disclosure threshold required by law.
Her lone asset purchase, according to the document, was an investment valued between $100,001 to $250,000 in a security by the name of "San Diego County Regional Transportation Sub Ltd BDS B 5.0 % Due 4/01/2045."
Among the Jacobs holdings sold were interests valued between $50,001 and $100,000 in computer and cell phone chipmaker Taiwan Semiconductor Manufacturing Company, Ltd., cell phone giant Verizon Communications, cell phone infrastructure provider SBA Communications Corporation, and healthcare insurance behemoth Anthem, Inc.
Jacobs's collection of sold-off interests valued between $15,001 and $50,000 included those in coffee concern Starbucks, Inc., medical tech maker Stryker Corporation, and merger-seeking Connecticut-based power utility Avangrid.
Avangrid, seeking to combine with New Mexico power giant PNM, has run into a buzzsaw of local controversy over alleged failure to full disclose customer service penalties in the Northeast and the role of Four Corners, the power plant long a thorn in the side of environmentalists. The Santa Fe New Mexican described the ongoing regulatory battles on June 22.
Also notable among former Jacobs holdings was a $15,001 to $50,000 interest in AstraZeneca, PLC, a major player in Covid-19 vaccine development. The company has of late faced criticism regarding uncertified Indian vaccine supplies and alleged vaccine side effects.
Another former Jacobs holding, Gilead Sciences, of which the first term congresswoman owned between $15,001 to $50,000 worth before her April divestiture, helped develop the antibody cocktail known as Remdesvir, aided by federal assistance arranged by the Trump administration, per a June 29, 2020 Washington Post account.
"A clinical trial sponsored by the government showed the drug — invented by Gilead but developed largely by taxpayer-funded agencies — sped up hospital recoveries by four days. It had no statistically significant impact on survival for covid-19 patients."
In June of last year, Gilead told the Post that the cost of the drug for a typical privately insured patient would be $3120.
Jacobs also disposed of a similarly valued holding in AvalonBay Communities. Last September, the big development outfit attracted controversy when it gave $2.9 million to Californians for Responsible Housing sponsored by the California Apartment Association, a political committee.
The group opposed the ultimately defeated Prop 21 state-wide rent control measure.
All told, the complete value of the unloaded Jacobs assets was somewhere between $2.8 million at the high end to $1.14 million at the lower reaches of the range of the legally required disclosure.
Here's something you might be interested in.
Sara Jacobs stock sell-off could be as much as $2.8 million
Wealthy House Democrat dumps a raft of lucrative but controversial personal holdings.
Sara Jacobs stock sell-off could be as much as $2.8 million
Wealthy House Democrat dumps a raft of lucrative but controversial personal holdings.
Among former Jacobs holdings was an interest in AstraZeneca.
As the stock market reaches near record highs, wealthy House Democrat Sara Jacobs of San Diego unloaded a raft of personal shareholdings, some potentially controversial, per a May 28 Periodic Transaction Report filed with the Clerk of the House.
The transactions came on April 9, the report says.
The young congresswoman, an heiress to the Jacobs family fortune created by her grandfather Irwin's Qualcomm cell phone chip success, disclosed 41 separate sales transactions, all but three of which yielded capital gains of greater than $200, the disclosure threshold required by law.
Her lone asset purchase, according to the document, was an investment valued between $100,001 to $250,000 in a security by the name of "San Diego County Regional Transportation Sub Ltd BDS B 5.0 % Due 4/01/2045."
Among the Jacobs holdings sold were interests valued between $50,001 and $100,000 in computer and cell phone chipmaker Taiwan Semiconductor Manufacturing Company, Ltd., cell phone giant Verizon Communications, cell phone infrastructure provider SBA Communications Corporation, and healthcare insurance behemoth Anthem, Inc.
Jacobs's collection of sold-off interests valued between $15,001 and $50,000 included those in coffee concern Starbucks, Inc., medical tech maker Stryker Corporation, and merger-seeking Connecticut-based power utility Avangrid.
Avangrid, seeking to combine with New Mexico power giant PNM, has run into a buzzsaw of local controversy over alleged failure to full disclose customer service penalties in the Northeast and the role of Four Corners, the power plant long a thorn in the side of environmentalists. The Santa Fe New Mexican described the ongoing regulatory battles on June 22.
Also notable among former Jacobs holdings was a $15,001 to $50,000 interest in AstraZeneca, PLC, a major player in Covid-19 vaccine development. The company has of late faced criticism regarding uncertified Indian vaccine supplies and alleged vaccine side effects.
Another former Jacobs holding, Gilead Sciences, of which the first term congresswoman owned between $15,001 to $50,000 worth before her April divestiture, helped develop the antibody cocktail known as Remdesvir, aided by federal assistance arranged by the Trump administration, per a June 29, 2020 Washington Post account.
"A clinical trial sponsored by the government showed the drug — invented by Gilead but developed largely by taxpayer-funded agencies — sped up hospital recoveries by four days. It had no statistically significant impact on survival for covid-19 patients."
In June of last year, Gilead told the Post that the cost of the drug for a typical privately insured patient would be $3120.
Jacobs also disposed of a similarly valued holding in AvalonBay Communities. Last September, the big development outfit attracted controversy when it gave $2.9 million to Californians for Responsible Housing sponsored by the California Apartment Association, a political committee.
The group opposed the ultimately defeated Prop 21 state-wide rent control measure.
All told, the complete value of the unloaded Jacobs assets was somewhere between $2.8 million at the high end to $1.14 million at the lower reaches of the range of the legally required disclosure.
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