Isn’t Chelsea Clinton the rich one?

The Clinton Foundation, which has raised nearly $2 billion since Bill Clinton left office in 2001, has long been seen as a potential source of embarrassment for Mrs Clinton as she prepares to run for the White House in 2016.

Yes, true, the money’s in the foundation, not Chelsea’s pocket. But the rules of these foundations are pretty porous. She’ll essentially have control of that money (and the income derived from it) for her lifetime and that control will pass on down the generations. The basic tax rule is that it must spend 5% of the endowment each year. But that 5% includes paying nice incomes to those that run it.

12 thoughts on “Isn’t Chelsea Clinton the rich one?”

  1. Considering Chelsea’s start in life with those particular parents, she deserves every comfort the World can throw at her.

  2. These foundations are a marvelous way to launder money into political campaigns, and to sell political influence to the highest bidder.

    If their primary purpose was doing Good Deeds, you’d be able, without googling, to name at least one major Clinton Foundation project which has been a success with its $5B in donations. Aside from enriching Clintons Père, Mère et Fille, of couse.

  3. So Much for Subtlety

    So it is like the Islamic waqf which is a foundation set up for ostensibly charitable purposes but which really existed for the purpose of avoiding tax, seizure by the government and the fragmentation of the estate through having many children?

    We should confiscate them.

  4. Is Chelsea legally competent? They’ve always kept her mental health issues fairly quiet, but there have certainly been periods when she was not in charge of her own affairs, so to speak. Apart from helping to maintain the pretence of normality, wasn’t part of the point of buying her a husband to prevent it looking odd that he was looking after the trust, not her?

  5. On the subject of funding: Cage is an organisation that represents “Muslim prisoners”. It represented ‘Jihadi John’, Mohammed Emwazi when he was being “hassled” by MI5. It received hundreds of thousands in funding the the Joseph Rowntree Foundation. Does anybody know of any other dodgy organisations also funded by the Joseph Rowntree Foundation?

  6. What abacab said.

    These things remind me of pre-dissolution monasteries, only much more malign. Sooner or later they will have to be shorn: the only questions being when and by whom.

  7. Bloke no Longer in Austria

    I thought it was her husband that was losing his marbles.

    I always felt sorry for Chelsea: she’s very ugly and has Bond villains for parents. I’d have thought most of that money would go on shark tanks, plastic surgery and shrinks.

    I’m just glad that I have my own steam cleaner with which to woo Gwyneth Paltrow.

  8. How did Billy and the Amerihag acquire this 2 billion?. Humble public servants that they be. Billyboy’s public speaking career? Grateful cigar salesmen?

    Of course it is not a lucky thing to do –looking into the “private” activities of this–what?–“toxic couple”(in the parlance of our times). Lots of folk who supposedly knew something about Whitewater and other capers met with unusual ends.

  9. Re: Mr Ecks

    Separate accounts. Billy and Hillary’s speaking gig are they own money. This is a tax advantage nonprofit entity designed to do ‘something’. Noticed how vague I described it. It’s mostly fat cats legally buying political influences from Clinton and their associates.

  10. Whilst not in the same league as the Clintons, the office of Gordon and Sarah Brown are managing quite well courtesy of their charitable foundation, supporting as it does, the couple’s ongoing involvement in public life’.

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