The education secretary's supporters counter that there's no evidence of impropriety, arguing DeVos has complied with ethics requirements and distanced herself from investment decisions while she's been in office. She sees education as an opportunity to divert tax dollars to private, for-profit companies, many of which she and her family invested in," said Ellen Offen of Ann Arbor, a former Detroit school teacher and vice president of the nonprofit group Protect Our Public Schools. Painter argued she should recuse herself from all department issues related to attention deficit disorder in part because the agency could have a role in considering Neurocore's therapy as a potential option for school children and whether the federal government says it should be covered by insurance. Though Amway reported an increase in sales for the first time in four years in 2018, the company eliminated 45 positions that year and also announced plans to close two manufacturing plants. Secretary of State for Veterans Affairs Robert Wilkie has spent his career on Capitol Hill serving in various roles in foreign affairs and defence. her entire federal salary to charity every year. Are you sure you want to delete this comment? “If I am confirmed, as you know, I will not be involved in or engaged in political contributions, and my husband will not either,” DeVos told members of the U.S. Senate, Health, Education, Labor and Pensions Committee. Last year, CREW found that DeVos. DeVos also doesn't have to report specific amounts for certain assets held by her husband, Republican former gubernatorial candidate Dick DeVos, heir to the Amway fortune. 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DeVos’ interest in Neurocore has drawn scrutiny in the past due to the possibility that Neurocore, like some of its peers, might seek to partner with schools and benefit from programs DeVos oversees as Secretary of Education. 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. Attorney General William Barr replaced Jeff Sessions as the nation's top cop in early 2019 and has refused to commit to recusing himself from the Russia probe despite an unsolicited memo he sent to the Justice Department decrying the investigation. The company has paid tens of millions of dollars over the years to settle various lawsuits. For that reason, Painter said he did not think it poses the potential for conflict. Secretary of State Mike Pompeo replaced Donald Trump's previous appointment to the post, Rex Tillerson, and has led talks with North Korea in establishing high-profile summits between the president and Kim Jong Un. DeVos donated part of her salary to HBCUs, HBCUs were founded to provide educational opportunities. Secretary of Housing and Urban Development Ben Carson was appointed shortly after Donald Trump took office and raised controversy over an exorbitant furnishing bill for his office. DeVos' annual disclosure reports reviewed by The Detroit News provide a rare glimpse of the complicated web of real estate holdings, private equity and hedge fund investments of the DeVos family, which Forbes has estimated to be worth $5 billion. She reportedly donated to the nonprofit Travis Manion Foundation, which supports veterans; The Kennedy Center's Any Given Child initiative; The National Academy Foundation in support of STEM education; The Children's Scholarship Fund, a nonprofit school choice group; Jesse Lewis Choose Love, a social-emotional learning program; and the The Mattie Miracle Cancer Foundation. Agriculture Secretary Sonny Perdue has been dogged by ethics questions throughout his tenure and faced controversy when emails showed the agency appeared willing to eagerly work with lobbyists under his leadership. Regardless, this version gives a peek behind the curtain at the finances of the richest member of Trump’s cabinet. Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. "Despite continuous and false attacks from the media and Democrats, no one has ever produced even a shred of evidence of impropriety by Secretary DeVos," Morabito said. 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. 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 (assets) firm that counts the Rockefeller and Mellon families as founders. Sign up for POLITICO Playbook and get the latest news, every morning — in your inbox. “As it relates to Dick, I think there’s a big difference between (giving to) federal candidates and the rest of the world of political giving, and that was a distinction there wasn’t really an opportunity to make,” McNeilly said at the time. Through a series of trusts, Dick and Betsy own stakes in Alticor that generated at least $7 million in capital gains, interest and dividend income in 2018. The Amway model revolves around recruiting new people to sell Amway products, charging them fees to do so. Her husband has not. Earlier this year, a. was filed in California alleging that as Amway’s sellers are focused on recruiting new people to the company, Amway ripped them off by failing to pay them minimum wage. DeVos' stake in Neurocore could be a potential problem, said Richard Painter, who served as chief ethics lawyer under President George W. Bush. "Secretary DeVos is not interested in education to help students. Health and Human Services Secretary Alex Azar is a former pharmaceutical lobbyist and former drug company executive. It’s easy to donate $199,700 when you’re making $50 – $100 million, or more, on the side. In October 2019, he gave $5,600 — the maximum allowed for an individual — to Trump's reelection campaign, according to campaign finance disclosures. As secretary of education, Ms DeVos received $199,700 (£150,674) in income last year. Education Secretary Betsy DeVos has also held her post throughout the presidency, despite major backlash to her apparent undermining of the nationwide public school system and advocacy for charter programmes. The 62-year-old education secretary's wide-ranging investments feature a distillery that makes craft spirits, Elon Musk's Space Exploration Technologies, a minor league hockey team called the Orlando Solar Bears and a company that owns and runs a resort and marina in Eleuthera, Bahamas, that's currently closed due to the coronavirus pandemic. No revisions were made to the income Secretary DeVos disclosed. The largest source of income they reported stems from their primary source of wealth: Alticor, the parent company of multilevel marketing giant Amway. My reporting has taken me everywhere from the world's largest cardboard box factory to Donald Trump's penthouse. 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. She also reported indirect income of $100,000 to $1 million in interest from a loan of more than $5 million to Neurocore, which has drawn scrutiny for promoting unproven methods to treat conditions like ADHD and depression. According to the United States Office of Personnel Management, the "basic pay" for a … Donald Trump's Cabinet is one the richest in American history, filled with billionaires, conservatives and several career politicians. Education Secretary Betsy DeVos reported assets valued in the hundreds of millions of dollars for 2019; however, government disclosure forms report values in broad ranges topping out at “over $50 million,” so the total value of her assets is not discernible from the reports. If … Education Secretary Betsy DeVos made a $199,700 salary as a Cabinet member in 2018. Ahead of the 2018 election, Dick DeVos gave to political action committees at the state level in Michigan. © 2020 The Detroit News, a Digital First Media Newspaper, Alticor Global Holdings Inc. (over $50 million), CCM Limited Partnership (over $50 million), Alticor Export DV Co. ($25 million to $50 million), AEA Investors Fund V LP ($5 million to $25 million), Electric Guard Dog Holdings LLC ($5 million to $25 million), Pangaea Two LP ($5 million to $25 million), Neurocore LLC ($5 million to $25 million), Roundtable Healthcare Partners IV ($5 million to $25 million), $1 million-plus personal loan from PNC Financial Services Group Inc. (Dick DeVos is a co-borrower on a loan for West Michigan Aviation Academy, a charter school the DeVoses founded in 2010. A Lextm3 spokeswoman didn't respond to a request for comment, but McNeilly noted the company doesn't contract with the agency DeVos oversees. That's the challenge.". Her 2018 reported income total was at least $56 million, and for 2017, it was at least $57 million. Critics of DeVos say the Michigan native's financial holdings, which include a company that offers biofeedback therapy for children with Attention Deficit Hyperactivity Disorder, could lead to conflicts of interest as she guides the nation's education policies inside President Donald Trump's administration. The loans may have been a sign that Amway was struggling financially. As deputy wealth editor, I help put together the Forbes 400 and World's Billionaires. According to Elizabeth Hill, a spokesperson for the department, the entirety of that pay was donated to four organisations. Betsy DeVos has stopped making contributions, according to a review of federal and state disclosures. 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.