WASHINGTON, DC: Chelsea Clinton $9 million dollar payday due to her service as a board member on Clinton crony and billionaire investors Barry Diller’s IAC Interactive Corporation and Expedia is being looked at. Both The Hill and Barron’s are reporting that Chelsea’s stock holdings granted to her since 2011 have surged in value and now amount to over $9 million dollars. At the time Chelsea received the stock, Hillary Clinton was coincidentally Secretary of State.
Chelsea Clinton now joins Hunter Biden and Christopher Heinz, Joe Biden’s son and John Kerry’s stepson, in the crony kleptocratic sweepstakes of self-enrichment without obvious evidence of substantive contribution. That is to say, they get sweetheart deals while seeming to have no qualifications for the lucrative positions they are put in.
Chelsea also received $50,000 a year from IAC Interactive and $250,000 a year from Expedia to serve on their respective boards.
According to the Hill:
“Chelsea Clinton has reaped $9 million in compensation since 2011 for serving on the board of an internet investment company, according to Barron’s, the financial publication. Barron’s reported Sunday that Clinton has profited handsomely as a board member for IAC/InterActiveCorp, a media and internet investment company that has an ownership stake in 150 well-known brands, such as Vimeo, Tinder, Angie’s List and Home Advisor.”
Barron’s put the financials more succinctly:
“Shares of IAC (ticker: IACI), which owns investments in a number of internet brands, have rocketed in the past three years. IAC stock’s rise of 89%, 50%, and 36% in 2017, 2018, and 2019, respectively, far outstrip the S&P 500’s 19% rise, 6% drop, and 29% gain in those respective years.”
Barron’s went on to point out:
“Clinton, who has been an IAC director since 2011, receives an annual $50,000 retainer and $250,000 in restricted IAC stock units, or RSUs. As of Dec. 31, she owned the equivalent of 35,242 IAC shares, consisting of 29,843 shares and 5,399 share units under a deferred-compensation plan, according to a form she filed with the Securities and Exchange Commission. Share units convert to stock when an IAC director leaves the board.”
“The value of Clinton’s stake has surged along with the stock. Her IAC shares were valued at $8.95 million as of Friday’s close at $253.91. That is up from $7.2 million in June, and up from $6.6 million in October 2018.”
The Hill echoed Barron’s reporting:
“Clinton, the only child of former President Bill Clinton and former Secretary of State Hillary Clinton, has served on IAC’s board since 2011 and receives an annual $50,000 retainer and $250,000 worth of restricted IAC stock units, Barron’s reports.”
“She reported owning $8.95 million worth of IAC stock to the Securities and Exchange Commission at the end of December. Barron’s notes that IAC’s stock has risen 89 percent, 50 percent and 36 percent in 2017, 2018 and 2019, respectively, a far steeper rise than the broader stock market.”
The Hill goes on to note:
“Clinton’s public profile has proved a valuable commodity. She earned an annual salary of $600,000 working as a special correspondent for NBC News in 2013 and part of 2014. Clinton was named to the board of Expedia Group in March of 2017, a position that typically earned $250,000 in 2015, according to a report at the time by The Guardian. Both IAC and Expedia are controlled by Barry Diller, the business and television mogul, who is a friend of Hillary Clinton. “
It is good to know that Chelsea is being taken care of. Like the entitled children of the elite everywhere, she has no tangible value to bring to her position other than the Clinton name. And the value of Barry Diller enriching her as a favor to her parents. Like the $10 million dollar wedding she had paid for by the Clinton Foundation, Chelsea is in lockstep with her parent’s utter hypocrisy.
Oblivious to how entitled she is and how corrupt the system really is. Or perhaps perfectly aware of how corrupt it is. All too aware.
Chelsea had nothing to do with either companies success
It is notable to point out that the stock increases in value for the company occurred during the Trump economic miracle. Barry Diller is a business genius. The stock movements and accomplishments of what Expedia and IAC Interactive have achieved have nothing to do with Chelsea Clinton. That is a certainty.
She was the Hunter Biden of IAC Interactive. Very expensive, free riding, Clinton window dressing.
Chelsea’s $9 million stock pay off from Barry Diller is just the tip of the iceberg of the enrichment and self-dealing that makes it hard to view it any other way except corrupt.
How many other deals does she have locked away in her portfolio of secret arrangements? Does she have a secret Haitian trust fund?
Maybe she and Hunter Biden and Christopher Heinz can form a consulting group for other children of the elite on how to flagrantly work the system. Hillary and Bill Clinton should be so proud. And grateful to their friend Barry Diller.
Chelsea Clinton is proof that the rotten apple doesn’t fall very far from the corrupt tree.