Sunday, February 05, 2017

3 Trump Cabinet officials will still be receiving millions from corporate America

Jeff Stein · Friday, February 03, 2017, 10:41 am

At least three of Donald Trump’s Cabinet officials are receiving multimillion-dollar payouts — so-called “golden parachutes” — from the companies they are leaving to join the federal government.

Exxon Mobil will pay Rex Tillerson, its former CEO, a compensation package worth $180 million after he becomes secretary of state. Elaine Chao will receive between $1 million and $5 million from the bank Wells Fargo on her way to oversee Trump’s transportation department. Goldman Sachs will award Gary Cohn, incoming chair of the National Economic Council, close to $285 million.

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