Eric Cantor Cashes in for $3.4 Million With New Gig at Investment Bank

News & Politics

Once Eric Cantor lost his primary, the question became not whether he would cash in, but when, how, and for how much. Now we have answers. The former House majority leader will become a vice chairman, managing director, and member of the board of directors at "boutique investment bank" Moelis & Co. According to an SEC filing:

... he'll have a base salary of $400,000 for this year and next. Add in $1.4 million in signing bonuses this year, and $1.6 million in incentive compensation next year, and Cantor is looking at a cool $3.4 million.

The money won't be the only thing making Cantor feel right at home; the founder of Moelis & Co. was a max-out donor to his campaign, and he'll get to continue to work in the city he clearly considers home—even if, technically, he lives nearly two hours away near Richmond, Virginia. David Waldman nails Cantor's new office arrangement:

Lost my job in Congress. Can I work for your Wall St firm? Great! I'd like to work in DC. No DC office? Well, make one. kthxbi #RegularGuy
— @KagroX

So basically, no surprises here. Cantor gets to keep working in the same city, getting a new set of fancy titles and a big pile of money. Exactly what we knew would happen the moment he lost, because that's what formerly powerful members of Congress, especially but not only the Republicans, do.

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ }}
@2022 - AlterNet Media Inc. All Rights Reserved. - "Poynter" fonts provided by