Thursday, June 16, 2016

Total Clinton income from for-profit schools now set at $22 million - Thomas Lifson

by Thomas Lifson

Now the Free Beacon has pored through the tax records of the Clintons and discovered another education honey pot.

Imagine earning a fortune like $22 million!  That would be enough, even after taxes, to lead a life of luxury.  It is beyond the dreams of 99.9% of the American people.  But that is the new total we now know that Bill and Hillary Clinton collected for very, very, very part-time work – essentially lending the Clinton brand to a couple of for-profit education enterprises.

We already knew about Laureate Education, the global higher education conglomerate accused in class action lawsuits of many of the purported sins of Trump University.  The Clintons pulled down a cool $16.5 million from that company, owned by billionaire friend (and Hillary donor) Doug Becker.  Now the Free Beacon has pored through the tax records of the Clintons and discovered another education honey pot.  Joe Schoffstall writes:
Bill Clinton was paid $5.6 million from an international for-profit educator after it entered into a partnership with the Clinton Global Initiative around the same time the former president hauled in $16.4 million from Laureate Education, tax returns show.
GEMS Education, a Dubai-based education management firm, was founded by billionaire educator Sunny Varkey in 2000 and consists of over 90 schools in 12 countries.
GEMS bills itself as a “broad-based education option.” It is the largest global education management firm in the world offering K-12 instruction with offices in the United Kingdom, United States, India, Singapore, Saudi Arabia, Egypt, Qatar, Kenya, the United Arab Emirates, and Switzerland.
Bill Clinton announced in 2010 that GEMS Education would become a strategic partner of the Clinton Global Initiative. Later that year, the Varkey GEMS Foundation, a global charitable foundation, was launched with Clinton named as its honorary chairman.
In addition to donations to the Clinton slush fund charities, Varkey enriched the Clintons themselves:
Bill began receiving payments from GEMS Education in 2011, tax records show. Clinton has hauled in millions from the vast GEMS for-profit network between 2011 and 2014.
The first payment Clinton received from GEMS Education came in 2011 in the amount of $500,000, according to Hillary Clinton’s tax returns. In 2012, he earned another $1.25 million from GEMS. In 2013, the amount increased to $1.75 million. In 2014, the payments rose again to $2.125 million. Clinton has received a total of $5,625,000 from GEMS Education.
No wonder Chelsea can afford to live in a ten-million-dollar apartment in Manhattan.  Her parents have enriched themselves massively.  Wealth beyond our dreams.

Hat tip: Linda

Thomas Lifson


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