While a US senator has been pushing legislation to boost the nation’s semiconductor industry, his wife — who happens to own the Strand Bookstore in Manhattan — has been cleaning up on shares of chipmakers that have stood to benefit.
Since last year, Sen. Ron Wyden, a Democrat from Oregon, has pushed legislation to bolster US chip companies, including by co-sponsoring the America LEADS Act and speaking out in favor of the CHIPS Act, two bills designed to promote semiconductor design and production on American soil amid rising competition from China.
Wyden’s efforts got a leg up on Wednesday, when Senate majority leader Sen. Chuck Schumer (D-NY) introduced a bill for $52 billion in subsidies for domestic chip production and research and development.
Meanwhile, his wife Nancy Bass Wyden — who warned in October that the iconic Strand “cannot survive” without more business after being slammed by the pandemic — has been buying up potentially millions of dollars worth of shares in American chip designers and manufacturers like Nvidia, according to government documents.
In March of 2020, Wyden declared his support for the CHIPS Act, saying, “There’s bipartisan interest in building up our domestic manufacturing to bolster the