Betsy DeVos Reportedly Made $225 Million—Or More—During Her Time In Trump’s Cabinet | #Education


Topline

Former Education Secretary Betsy DeVos made at least nine figures of outside income during her time serving in President Donald Trump’s cabinet, maybe more than $414 million, according to a review of financial disclosures she filed over her four years in the White House.

Key Facts

DeVos earned at least $225 million, according to an analysis from the Citizens for Responsibility and Ethics in Washington, a nonpartisan watchdog group, but the exact figure is unclear because her income was reported in such wide ranges.

DeVos counted at least $75 million from the parent company of Amway, the multilevel marketing lifestyle company founded by her late billionaire father-in-law, Richard DeVos.

Most of her earnings came from interest and dividends on investments in dozens of companies, and millions in rent and royalties on property in her home state of Michigan, as indicated by her final termination report.

Her financial ties were a source of controversy during her time in the White House—Devos did not sell her $5 million to $25 million stake in Neurocore, a “brain training” program for children, which critics said was a conflict of interest.

With an estimated net worth of $2 billion with her husband and four children, according to Forbes, Devos was by far the wealthiest member of Trump’s cabinet.

Key Background

DeVos’ appointment as Trump’s education secretary in 2017 sparked an outcry over her lack of experience in working in public education combined with her history of making large donations to the Republican Party. DeVos stepped down from Trump’s cabinet shortly after the riots on Capitol Hill in January, citing the role Trump’s rhetoric had on the event. 

Further Reading

Betsy DeVos made at least $225 million while education secretary (CREW)

Education Secretary Betsy DeVos Resigns, Blames Trump For Inflaming Tensions At Capitol Riot (Forbes)

Inside Betsy DeVos’ Billions: Just How Rich Is The Education Secretary? (Forbes)

The Definitive Net Worth Of Donald Trump’s Cabinet (Forbes)



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