Bloomberg
reports that upon leaving politics, Wisconsin’s first son will have no trouble adding to a current net worth estimated at slightly more than $6 million, given the wide range of corporate boards probably already banging down his door. “The kind of board that he would go after would probably pay between $250,000 and $300,000 a year and he could probably get three or four of them,” Fred Foulkes, a professor at Boston University’s Questrom School of Business, told Bloomberg. “There would be dozens that would like to have him, particularly companies that have part of their business in key relationships with certain parts of government.” While Ryan will have to abide by a rule that says representatives must wait one year between working on Capitol Hill and lobbying work, there are no such rules about joining companies’ boards. One imagines that plenty of the Speaker‘s corporate donors, now saving millions on their tax bills, would be happy to have him.
There’s some irony in the fact that Ryan, who famously called poverty a “culture problem” of “men not even thinking about working,” who said the social safety net is a “hammock that lulls able-bodied people into complacency and dependence,” and who extolled the
virtues of children seeing their father working, will be quitting his job at 48 in order to do less work for more money. Corporate board seats are famously
cushy gigs that involve, typically, attending a meeting every few weeks, max. By the
Boston Globe’s estimates, board members usually work fewer than five hours per week per board. The positions are so lucrative and coveted that critics say some people are discouraged from raising questions about C.E.O. pay or other issues for fear of losing their seats, which we’re sure will never been an issue for the deeply principled Ryan.