Sboll is Your Go-to Source for the Latest Finance News, Covering Markets, Banking, Investments, Economy and Stocks.
⎯ 《 Sboll • Com 》

Inside Covid czar Anthony Fauci and wife's $2M pandemic windfall

2023-09-20 04:30
According to reports, Dr Anthony Fauci earned about $480,000 per year, which is more than President Joe Biden's yearly salary of $400,000
Inside Covid czar Anthony Fauci and wife's $2M pandemic windfall

WASHINGTON, DC: Anthony Fauci reportedly netted a staggering amount of $2 million in earnings during the pandemic while he served as the White House Covid czar, the Daily Mail reported.

A Freedom of Information Act request filed at the end of his tenure disclosed that the doctor and his wife Dr Christine Grady had a net worth that exceeded $11 million in 2022, which is significantly higher than $7.6 million in 2019.

Dr Anthony Fauci earned more than the President of the US

The 82-year-old former White House top doctor was the best-paid public servant in the US while he was the director of the National Institute of Allergy and Infectious Diseases and later chief medical advisor to President Joe Biden.

According to the outlet, he earned about $480,000 per year, which is more than the president's yearly salary of $400,000.

During the peak of the pandemic, the doctor bagged extra wealth through speaking engagements, awards, compensation for government work, and royalties from working in academic publishing.

His wife Dr Grady, the chief of the Department of Bioethics at the National Institutes of Health Clinical Center, earned about $239,000 in 2021, but her figures for 2022 were not made available.

Financial disclosures obtained by Fox News reveal that by the end of 2022, Dr Fauci's account balance totaled $9.25 million. Besides, their total net worth added up to $11.45 million with the inclusion of $2.2 million from his wife's assets.

Dr Fauci's salary had reached $480,654 before his retirement in late 2022, which is about $80,000 more than the President makes, up by nearly $25,000 from the year before.

How did Dr Anthony Fauci and his wife earn so much money?

From 2021 to 2022, the duo saw a $1.1 million financial dip before which their net worth was about $12.6 million. Open records show the Faucis had a lot of lucrative assets.

OpenTheBooks CEO Adam Andrzejewski had analyzed the Faucis' past disclosures to present a rough image of their eye-boggling wealth.

His analysis stated the Faucis' assets were held in a mix of trusts, retirement, and college education accounts. In 2021, Dr Fauci's total investment account was valued at around $10.2 million, while his wife's totaled at around $2.4 million.

His portfolio earned $910,174 in 2021, which is an increase from gains the year before of more than $794,000. The doctor also invested heavily in mutual funds, but those figures are not public.

However, Forbes reported that disclosures show $794,369 in gains in the Fauci stock, bond, and money market portfolio during 2020. He also earned hundreds of thousands in awards and speaking engagements.

For instance, he was awarded $1 million in January 2021 for the Dan David Prize affiliated with Israel's Tel Aviv University for "courageously defending science in the face of uninformed opposition" during the pandemic. He kept $901,400 and donated the rest to hand-picked scholarship winners.

Fauci’s disclosures show that he owns a stake in a San Francisco restaurant called Jackson Fillmore, worth between $1,000 and $15,000, but received no income from the restaurant in FY2020.

Now since he is retired, Dr Fauci will collect a federal pension estimated to come to about $375,000 this year. It could reach as high as $530,000 in subsequent years.

Dr Anthony Fauci's bank accounts

Dr Anthony Fauci reportedly holds 7 bank accounts across the globe. He owns a bank account with HSBC Hong Kong with a cash balance of $5.1 million and his checking account is with Rothschild & Co. with a 2.8 million balance, located in Cayman Island.

According to leaked documents on Reddit, Fauci's accounts in the US with Bank of America, JP Morgan, and Chase bank hold a total balance of $10 million.

He also holds a trading account with Morgan Stanley. He owns $25 million in stocks with investments in Johnson & Johnson, Lockheed Martin, Walmart and Pfizer.