Trump’s Wealthiest Cabinet Member Made $225M In ‘Outside Income’: Report | #Education


KEY POINTS

  • Betsy DeVos made at least $225 million in outside income as Trump’s education secretary
  • She earned $75 million from Alticor, Amway’s parent company
  • She also owned stakes in Neurocore, a brain performance company targeting children

Former Secretary of Education Betsy DeVos earned nine figures in outside income during her tenure as a Cabinet member in the Trump administration, a Washington watchdog organization reported Tuesday. 

A report by Citizens for Responsibility and Ethics in Washington found that DeVos made at least $225 million and potentially more than $414 million in “outside income” during her four years as education secretary under the Trump administration. 

“It is impossible to know the exact amount because DeVos’s income is reported in broad ranges, but we do know for a fact that she made nine figures during her four years in office,” CREW wrote in its report. 

The figures were determined after analyzing three of the former education secretary’s financial disclosure forms, including her final termination report. CREW also noted that many of DeVos’ assets were listed as “over $5 million” or “over $1 million.”

DeVos was Trump’s wealthiest Cabinet member. Her husband, Richard Marvin “Dick” DeVos Jr. is a multi-billionaire heir to the Amway fortune.  

At least $75 million of the former Education secretary’s outside income came from Alticor, the parent company of Amway, a multi-level marketing company. She also owned stakes in Neurocore, a brain performance company targeting children.

DeVos’ husband also made headlines when he continued to make political donations throughout her tenure even after she pledged that he would stop

Betsy DeVos was one of the several Trump officials who resigned from their positions shortly after the deadly attack at the U.S. Capitol on Jan. 6. 

In her resignation letter, she blamed the former president for inciting the insurrection at the Capitol complex while Congress attempted to confirm  President Joe Biden’s victory.

“We should be highlighting and celebrating your Administration’s many accomplishments on behalf of the American people. Instead, we are left to clean up the mess caused by violent protestors overrunning the U.S. Capitol in an attempt to undermine the people’s business,” she wrote in the letter.

“That behavior was unconscionable for our country. There is no mistaking the impact your rhetoric had on the situation, and it is an inflection point for me,” she added. 

Her resignation followed that of Transportation Secretary Elaine Chao and special envoy to Northern Ireland Mick Mulvaney. 

Education Secretary Betsy DeVos, seen in a July 8, 2020 White House briefing, has insisted that schools across the country must aim for full reopenings in the fall, saying they otherwise risk losing federal funds Photo: GETTY IMAGES NORTH AMERICA / ALEX WONG



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