Cashing In On Government Service – Obama Staffers Return To Biden White House Worth Millions

(Photo by Chuck Kennedy/The White House via Getty Images)

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Former officials reuniting in the White House under President Joe Biden have gotten dramatically wealthier since the previous Democratic administration, a Sunday report shows.

Officials returning to the White House under the Biden administration have grown much richer and more intimate with the corporate world over the years, ABC News reported.

Domestic Policy Council Director Susan Rice is among the wealthiest in the Biden White House team. Rice has substantially increased her wealth since her previous White House job, reporting between $36 million and $149 million in various assets, according to her latest disclosure report released Saturday.

That is three or four times the amount she reported in 2009 and the years of her work in former President Barack Obama’s administration, according to ABC News.

Rice disclosed holding shares worth between $250,000 and $5 million in corporations including Johnson & Johnson, Apple, Microsoft, Netflix, and the Canadian multinational natural gas distribution company Enbridge Inc., according to ABC. (RELATED: Top Biden Aides Employed By Big Tech Still Hold Stock In Companies)

White House Chief of Staff Ron Klain has also reportedly increased his wealth by millions since 2009, ABC reported. Klain reported receiving $2 million in salary from venture capital firm Revolution LLC in 2020, as opposed to the $1 million he reported in 2009.

Coronavirus response coordinator Jeff Zients reported on Saturday that he owns between $89.3 million and $442.8 million in assets, which include different investment funds, real estate properties, and $1 million worth of shares in Facebook, where he has served as a board member. Zients has more than doubled his wealth since he joined the Obama White House as the deputy director of the Office of Management and Budget in 2009.

“These White House officials are experienced government leaders whose past private sector experience is part of a broad and diverse skill set they bring to government service,” a White House spokesperson told ABC News, the report stated.