According to Fox News, “Chelsea Clinton has raked in $9 million in the past decade for serving on the board of a media and internet investment firm controlled by her mother’s friend,” a report said Monday.
The former first daughter, since 2011, has received an annual retainer of $50,000 for serving on the board of IAC/InterActiveCorp, which is controlled by business and television mogul Barry Diller, according to financial publication Barron’s. Clinton’s shares in IAC/InterActive Corp were valued last week at a whopping $8.95 million. The 39-year-old, who has been on the IAC board as a director since 2011, receives an annual $50,000 retainer.
The $250,000 worth of restricted IAC stock units Clinton received on top of the retainer that lead to the windfall. Clinton reported to the Securities and Exchange Commission that she owned $8.95M worth of IAC stock.
Stock prices for the company, which has an ownership stake in several ventures, including Tinder, Vimeo and HomeAdvisor, have surged since 2017. Chelsea’s biography on the IAC website largely touts her work with The Clinton Foundation.
Clinton, a graduate of Stanford, Oxford and Columbia, began her career working for management consulting firm McKinsey & Company and investment firm Avenue Capital Group.
She then earned $600,000 a year working as a special correspondent for NBC News in 2013 and 2014, Politico reported at the time.
In March 2017, she was named to the board of Expedia Group, earning an estimated $250,000. Diller, a donor to Chelsea’s mom Hillary Clinton, also owns Expedia.
It’s light work for Chelsea – the IAC board met just six times in 2018, while some members of the Expedia board were only obligated to attend two meetings last year.