Anti-China GOP Senator Earns Millions From China-Linked Company
A Republican senator who has vocally opposed Beijing and called for investigations into President Joe Biden's family and their alleged business relationships in China, has reportedly disclosed more than $57 million in income over his last 10 years in office came from a business whose growth is largely aligned with China.
Photo Insert: $57 million in income over GOP Sen. Ron Johnson's last 10 years in office came from a business whose growth is largely aligned with China.
According to The Guardian, Sen. Ron Johnson's (R-Wisc.) financial disclosures indicate that his wealth increased significantly over the last decade during his time in the Senate.
The Republican senator is said to have acquired his wealth through profits from the Oshkosh-based company Pacur, a plastic manufacturing facility where Johnson once served as a high-ranking executive, Meaghan Ellis reported for Alternet.
"A close examination of Johnson’s financial disclosures and other public filings to the Securities and Exchange Commission (SEC), legal filings, and other public records reveal that Johnson’s wealth was boosted by his company’s ties to another company that was owned and managed by his family, which in turn grew its business in China, acquired businesses in China, and reported having a loan worth tens of millions of dollars from the Bank of China," the Guardian reported.
Although Johnson was said to have sold his stake in the company back in 2020, documents show "an LLC owned by Johnson and his wife, Jane, still receives up to $1 million annually through rent and royalties as owners of the building where Pacur operates," the Guardian added.
Pacur was co-founded in the 1970s by the Wisconsin lawmaker and his brother-in-law. The publication also highlights the connection between Pacur and Bemis, a company founded and managed by the lawmaker's father-in-law, Howard Curler.
"SEC documents show that, from about 1998 to 2010, Bemis paid tens of millions of dollars to Pacur, which was a supplier to Bemis. Johnson also personally owned Bemis stock, valued at between $1 million and $5.2 million on financial disclosure forms," the news outlet reported.
"The stock was later gifted to the senator’s family foundation, called the Grammie Jean Foundation."