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 TrumpCoast Guard chief: 'Unacceptable' that service members must rely on food pantries, donations amid shutdown Dem lawmaker apologizes after saying it's never been legal in US to force people to work for free Grassley to hold drug pricing hearing 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 David CohnOn The Money: Shutdown Day 27 | Trump fires back at Pelosi by canceling her foreign travel | Dems blast 'petty' move | Trump also cancels delegation to Davos | House votes to disapprove of Trump lifting Russia sanction Gary Cohn criticizes the shutdown: 'Completely wrong' Ocasio-Cortez rips presence of lobbyists at orientation event 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.