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    Tuesday, May 07, 2024

    Clintons rake in more than $25 million in speaking fees since January 2014

    The Washington Post

    Washington — Hillary Rodham Clinton and former president Bill Clinton earned in excess of $25 million for delivering more than 100 speeches since the beginning of 2014, a huge infusion to their net worth as she was readying for a presidential bid.

    The Clintons revealed their recent income as paid speakers and other aspects of their personal finances in disclosure forms that a senior campaign official said was filed Friday. The campaign did not immediately release the documents, but the official provided details about them.

    Hillary Clinton also earned $5 million in royalties for her book, "Hard Choices," which was released in June.

    One of her GOP rivals for the presidency, Sen. Marco Rubio of Florida, also filed his financial information Friday, revealing a far more modest portfolio. It showed that last year he cashed out his retirement accounts, which were worth between $60,000 and $195,000; a campaign spokesman declined to comment on why. Rubio and his wife still hold at least $450,000 in home mortgage debt.

    Clinton has tripped politically in addressing her personal wealth, drawing criticism last year for indicating she and her husband were "dead broke" when his term as president concluded in 2001. Though saddled with debt due to legal fees incurred from various White House scandals, Bill Clinton's memoirs and frenetic speaking schedule quickly lifted the couple into the ranks of the uber-wealthy.

    During the 11 years Hillary Clinton served as a U.S. senator and then secretary of state, she reported that her husband made $105 million for delivering more than 540 speeches. Bill Clinton's fees rose over time. By 2012, her last year at the state department, he earned more than $16.3 million for 72 speeches.

    After she left her post, Hillary Clinton herself commanded huge fees as a paid speaker. She was paid as much as $300,000 to speak at public universities, drawing backlash at times, though she generally donated those funds to the Bill, Hillary and Chelsea Clinton Foundation.

    Clinton continued to deliver paid speeches until just weeks before her presidential announcement. Within the last year, she spoke to a scrap metal conference in Las Vegas, a major bank in Canada and the American Camp Association in Atlantic City.

    Until Friday's financial disclosure filing, there has not been a complete picture of which groups she addressed on the speaking circuit and how much she has made.

    The new information covers a period beginning in January 2014 and shows the Clintons were paid about $250,000 every time they spoke. She has not been required to release any details about what she earned in 2013 after leaving the State Department.

    Now that she is running for president, Hillary Clinton has stopped giving paid speeches. However, Bill Clinton said earlier this month that he intends to continue to collect speeking fees, even as his wife campaigns. "I gotta pay our bills," he told NBC News.

    Because the Clintons have kept their money cash, they had no capital gains last year. The couple liquidated their investments in 2007, during Hillary Clinton's previous campaign for president after federal officials deemed a blind trust established during Bill Clinton's presidency to be out-of-date.

    The couple paid an effective tax rate of more than 30 percent, according to the senior campaign official. They recently moved some of their money into a Vanguard index fund.

    Rubio's filing showed no change in his liabilities from 2013 to 2014. He holds three mortgages, including a home equity line of credit. Between the three, Rubio owes at least $450,000 and as much as $1 million. His assets — which include checking and savings accounts, college funds for his children and a rental property in Tallahassee — are worth between $361,018 and $1,035,000.

    The filing shows his family's income outside his congressional pay grew in 2014. His wife's event-planning services firm, JDR Events, which he had indicated in 2013 had earned at least $1,000 did better in 2014, collecting somewhere between $15,001 and $50,000.

    The New York Times reported earlier this month that the foundation of Florida billionaire Norman Braman had hired Rubio's wife through JDR Events to advise its charitable efforts. The Times said Braman had declined to discuss her compensation.

    The Times also reported that Braman, a political and personal benefactor of Rubio's, had underwritten his salary as a senior fellow at Florida International University. Rubio reported that in 2014, like in 2013, he was paid $22,115 for the job.

    Presidential candidates are required to file the financial information with the Federal Election Commission within 30 days of declaring their candidacy, although they can seek up to two 45-day extensions. Fellow Republican candidates Sen. Ted Cruz, R-Tex., and Sen. Rand Paul, R-Ky., sought extensions rather than file on Friday.

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    Anu Narayanswamy contributed to this report.

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