Betsy DeVos — Compensation & Financial Record

Betsy DeVos Position: Secretary of Education (2017–2021) Party: R

Government Compensation Annual salary: $253,100 (Cabinet Level I) Total government salary earned: approximately $1,012,400 (4 years)

Retirement DeVos served 4 years as Secretary of Education. Under FERS with 4 years of service she is eligible for a deferred pension beginning at age 62. Estimated annual pension: approximately $10,000-$17,000 per year based on FERS formula. This represents a negligible fraction of her disclosed family net worth of $1,300,000,000-$2,000,000,000.

Financial Position Net worth at entry (2017): approximately $1,300,000,000–$2,000,000,000 Source: DeVos family stake in Amway (now Alticor); nominee SF-278 disclosed income range of $53,900,000–$134,900,000 for January 2016 through Spring 2017 Primary source: OGE Form 201 request at https://www.oge.gov/web/oge.nsf/Resources/Copies+of+Public+Financial+Disclosure+Reports+Now+Available+OnlineCREW analysis of 2018 annual filing: https://www.citizensforethics.org/reports-investigations/crew-investigations/betsy-devos-pfd/ Forbes analysis: https://www.forbes.com/sites/chasewithorn/2019/07/24/inside-betsy-devos-billions-just-how-rich-is-the-education-secretary/

Income during service (2018): at least $45,000,000 Primary source: Forbes analysis of 2018 annual disclosure draft: https://www.forbes.com/sites/chasewithorn/2019/06/08/betsy-devos-earned-at-least-45-million-while-in-office-last-year/

Net worth at exit (2021): No primary source document available.

Post-Government Income Post-government income: No primary source document available. Official disclosure requirements end upon departure from government service.

Campaign Finance No federal electoral campaigns filed.

Primary Sources

• OGE Form 201 (SF-278 certified originals): https://www.oge.gov/web/oge.nsf/Resources/Copies+of+Public+Financial+Disclosure+Reports+Now+Available+Online

• CREW investigation: https://www.citizensforethics.org/reports-investigations/crew-investigations/betsy-devos-pfd/

• Forbes (Amway wealth): https://www.forbes.com/sites/chasewithorn/2019/07/24/inside-betsy-devos-billions-just-how-rich-is-the-education-secretary/

• Forbes (2018 income): https://www.forbes.com/sites/chasewithorn/2019/06/08/betsy-devos-earned-at-least-45-million-while-in-office-last-year/

Notes DeVos's wealth derives almost entirely from the DeVos family stake in Amway (now Alticor), accumulated prior to government service. Her government salary of $253,100 per year represents a fraction of her annual investment income during her tenure. Post-government income: No primary source document available. Official disclosure requirements end upon departure from government service.