Ryan Poised to Earn Millions Even If He Sheds 'Weekend Dad' Role

Source: Bloomberg

Ryan Poised to Earn Millions Even If He Sheds 'Weekend Dad' Role

Bloomberg
Jeff Green, John McCormick and Bill Allison
8 hrs ago

Paul Ryan will easily add to his already considerable net worth if he opts to stray from his native Wisconsin to join a corporate board or dabble in Washington power struggles when he retires next year as speaker of the U.S. House of Representatives. "The kind of board that he would go after would probably pay between $250,000 and $300,000 a year and he could probably get three or four of them," said Fred Foulkes, a professor of at Boston University’s Questrom School of Business. "There would be dozens that would like to have him, particularly companies that have part of their business in key relationships with certain parts of government."

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Ryan, 48, who said he was retiring to be more than a "weekend dad," could easily follow the path of previous congressional leaders, including Newt Gingrich and Richard Gephardt, who became corporate directors. Former Speaker John Boehner, his immediate predecessor, recently joined the advisory board for U.S. cannabis producer Acreage Holdings and is already serving on the board of Arizona Mining Inc. and the advisory board to JBS USA, the American arm of a Brazilian food giant. That’s in addition to being a senior strategic adviser at the law firm of Squire Patton Boggs LLP.

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From Capitol to Capital
A Bloomberg analysis before that election showed that among directors who had previously served in Congress there were 31 Democrats and 33 Republicans, with the average pay more than $330,000.

Ryan will no longer be making his speaker’s salary of $223,500, but he will be eligible for a pension in a few years, and has an estimated net worth of slightly more than $6 million, according to a Center for Responsive Politics analysis of his 2016 financial filings. AshLee Strong, a Ryan spokeswoman, didn’t respond to an email seeking comment on her boss’ potential future employment.
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Read more: https://www.msn.com/en-us/money/markets/ryan-poised-to-earn-millions-even-if-he-sheds-weekend-dad-role/ar-AAvNx5W?li=BBnbfcL