Empower Wisconsin | Nov. 29, 2019
By Tristan Justice, The Federalist
Raking in $50,000 a month by serving on the board of a major energy company despite no prior experience in the industry sounds absurd on its face, but when compared to the level of board compensation of other large corporations, it’s almost unimaginable.
A Federalist analysis of board members’ earnings of comparable corporations reveals just how much Hunter Biden was being showered with excess compensation for serving on the board of Burisma, a Ukrainian energy company, while his father Joe Biden served as vice president dictating U.S. policy towards Ukraine.
According to Bloomberg, Hunter Biden brought at least $50,000 a month for his position on the board of Burisma from 2014 to 2019 without any experience in energy, bringing the former vice president’s son about $600,000 a year and dwarfing the compensation of board members serving on corporations of comparable size.
A 2018 survey from FW Cook, a well-regarded executive compensation consulting firm, shows that of the companies in the S&P 500, large-cap firms, which are businesses with a market value of more than $10 billion, paid individual board members a median of $275,000 a year. Among S&P 500 companies in the energy industry, board members were compensated with a median $213,000 a year, with those in the 75th percentile of the salary range still only bringing in $289,000, less than half of what Hunter Biden has been reported earning at Burisma.
Read more at The Federalist
