Education secretary Betsy DeVos and her husband, Amway heir Dick DeVos, earned at least $45 million last year, according to an early draft of her government-mandated financial disclosure obtained byThat figure likely understates the earnings of such a wealthy couple, since ethics laws allow for income to be listed in broad ranges that top out at $5 million, or even just $1 million if the asset is owned solely by the official’s spouse—which means the couple’s actual earningsThe largest source of...
to investing their billions. RDV, which is run by an outside CEO but governed by a family council, has plowed much of the family fortune into extensive private equity and real estate investments, including a sports complex in Orlando and a resort in the Bahamas. The couple earned more than $5.5 million in 2018 as investors in a handful of private equity funds managed by AEA Investors, a $15 billion firm that counts the Rockefeller and Mellon families as founders. DeVos made at least $5 million when an AEA entity cashed out its stake in a privately held packaging company earlier this year, according to the disclosure. Other government documents, filed earlier this year, indicate that the true number may be even higher—between $25 million and $50 million.
DeVos reported earning $3.8 million from NC Alexander Co-Invest, L.P., which appears to be registered on the island of Jersey, a notorious tax haven. Her previous disclosure forms say the entity owns a “provider of full service, European credit management services.” She also reported nearly $1.7 million in income from Gaillon S.C.A., a private equity fund that has stakes in European retail and chemical companies. Gaillon appears to be registered in Luxembourg.
, collected money from at least 85 separate sources last year. The federal government, however, was her smallest income source. Before taking office, DeVos pledged to donate all but $1 of her salary to charity. If she had instead held onto all of her $199,700 salary, it would have been her 23rd-largest source of income last year—tucked between earnings from a small stake in the Chicago Cubs and cash distributed from a private equity investment registered in the Cayman Islands.
Source: Education Headlines (educationheadlines.net)
I am happy 😊 for her!💗
Conflict of Interest from day one...our government needs to stand up with this blatant in your face crap. People are too afraid to lose their job in congress or senate but this is their job NOT TO GET RE-ELECTED!!!!
Wanna remind me again what it’s called when a politician makes more than their government salary again? Oh yeah wait, I remember it’s called CORRUPTION.
Isn't she a billionaire? $45 million earnings in a year would only be a 4.5% return on investments.
What did Nancy Pelosi earn?
That's awesome! Don't most us want to be rich?
'Earn' is a strong word. If you earn money by being born with a silver spoon in your mouth and marrying money, then ya, she earned it.
🤮🤮🤮🤮🤮 shes a disgusting human being, if we can even classify her as such. Not everyone with money deserves an article
more more more more 'earning' generational wealth EVERY year revolution is coming
'private equity investment registered in the Cayman Islands' already stinkin rich and is still hiding and evading and avoiding prob uses Health Insurance to share the burden with poor people too F&CK these goddam rich people slow painful suffering deaths
That’s what real wealth looks like. It seems like your headline makes her look bad or somehow is a bad person. Can you also detail Steve Forbes’ wealth and tax return line items? I think Forbes has changed its mission from encouraging & appreciating wealth to denigrating it.
© ✔ ..😉😉😲
How much did Speaker and Mr. Pelosi earn?
What hell they do with all this money?
Doing absolutely nothing
💩💩💩🤮🤮🤮
Pockets 45 million for a Job. That never gets done. Typical political crap. Its sad to say I have more faith in my McDonalds Clerk taking my order then any official in office.
Great ROI😂😂
COI
Swamp is overflowing
Good for her!
Another Trump disaster.
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