Trump economic adviser gets $100M payout from Goldman Sachs: report

Trump economic adviser gets $100M payout from Goldman Sachs: report
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President TrumpDonald John TrumpFamily immigration detention centers could be at capacity within days: report Trump likely to meet with Putin in July: report DOJ requests military lawyers to help prosecute immigration crimes: report MORE’s chief economic adviser is set to receive more than $100 million from his former employer, Goldman Sachs, CNN reported Wednesday.

 

The investment bank is paying former president and COO Gary CohnGary Davivd CohnOn The Money: New York AG sues to dissolve Trump Foundation | Issa tamps down rumors of consumer agency nomination | Bank regulator faces backlash over comments on racism | Cohn contradicts Trump on trade Cohn contradicts Trump on trade deficits The Hill's Morning Report — Can the economy help Republicans buck political history in 2018? MORE $65 million for bonuses he was owed, as well as sped up delivery of $35 million in stock awards and another $23 million in locked-up company shares, allowing Cohn to sell them.

 

In his new White House job, Cohn cannot have ties to Goldman Sachs. The massive payout is part of the process of separating Cohn from the business.

 

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Cohn is part of a contingent of former Goldman Sachs employees in Trump’s White House. Treasury secretary nominee Steve Mnuchin is a former partner in the company, and chief strategist Stephen Bannon and assistant Anthony Scaramucci also worked at the investment bank.

Trump has stocked his Cabinet with multi-millionaires and billionaires, including a number of business leaders. Secretary of State nominee Rex Tillerson received a payout of about $180 million after leaving the CEO job at Exxon Mobil Corp.