Politics

Biden’s Energy Secretary Nominee Will Make Over $5m When She Leaves Private Sector, Joins Government

The former Democrat Michigan governor stands to make millions off the sale on investments related to the private energy sector. As a windfall to her nomination as Energy Secretary by President Joe Biden, former Michigan Governor Jennifer Granholm stands to pocket over $5 million when she steps down from a prominent corporate board position with a Silicon Valley energy company.

In accepting the nomination from Biden, Granholm will necessarily have to step down from her position on the board of directors for Proterra, Incorporated, an electric-vehicles manufacturer.

She will also have to divest in her stock holdings in the company. Granholm’s stock in Proterra, reported on disclosure statements, is valued between $1 and $5 million.

Granholm will also be liquidating her stock and cutting ties with other energy companies, including First Solar, a solar-panel company, and Duke Energy, an electric company.

The former Michigan Governor’s intimate ties to the energy industry will, no doubt, raise conflict-of-interest concerns on Capitol Hill. Read more…

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