Betsy DeVos Made More Than $56 Million Last Year
Betsy DeVos reported up to $100 million or more in income last year while serving as the Secretary of Education, according to a review of her personal financial disclosures by CREW. More than $20 million of that came from Alticor, the parent company of multi-level marketing behemoth Amway, co-founded by DeVos’ late father-in-law Rich DeVos.
The copy of the report that CREW obtained has not been certified by the Department of Education or the Office of Government Ethics, and the report may yet be revised. Regardless, this version gives a peek behind the curtain at the finances of the richest member of Trump’s cabinet. DeVos, who along with her husband is worth billions, reported income last year that ranges between $56,311,836 – $100,496,358.00, according to CREW’s analysis, but could be much higher due to the vagueness of reporting requirements.
Despite donating her official salary, DeVos’ time in the Trump administration has still been very profitable, as she reported a similar amount of income the year before.
It is possible that DeVos earned significantly more than $100 million in 2019 because she is not required to specify amounts received from particular assets above $1 million for her spouse or amounts above $5 million for herself. In her most recent disclosure, DeVos reported income from 11 sources that exceeded $1 million or $5 million without specifying the actual amount received.
DeVos reported earning between $100,001 and $1,000,000 in interest from a loan given to Neurocore, a significant increase over the $5,001 – $15,000 she reported in 2018. Neurocore operates brain performance centers that use unproven techniques to treat conditions in children and adults such as anxiety and attention-deficit hyperactivity disorder.
DeVos’ interest in Neurocore has drawn scrutiny in the past due to the possibility that Neurocore, like some of its peers, might seek to CONTINUE READING: Betsy DeVos Made More Than $56 Million Last Year - CREW
