Gingrich’s ventures made $105 million in a decade
Former Speaker of the House Newt Gingrich speaks during a debate hosted by CNBC and the Michigan Republican Party at Oakland University in Rochester, Mich., on Nov. 9, 2011.
GOP presidential candidate Newt Gingrich's ventures, informally known as Newt Inc. and comprised of two for-profit ventures and a now defunct political committee, brought in more than $105 million from 2001 to 2010, as Gingrich eyed a higher office, reported iWatch News.
According to Politico, Gingrich's think tank – the Center for Health Transformation – brought in $55 milliion alone during that decade. The group said in a statement that they do not lobby, but it has a "charter membership fee" of $200,000.
The former Speaker of the House's other ventures include contracts with Freddie Mac, which reportedly paid him upwards of $1.8 million in consulting fees, reported the Washington Post. When asked about these numbers, Gingrich told Fox News that he gave Freddie Mac maybe an hour of his time per month, which translates to approximately $30,000 an hour.
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Gingrich's financial ventures have come under more scrutiny recently as he has jumped in the polls, reported the Wall Street Journal. His ventures have responded to the scrutiny by making their financial revenues public.
According to the Post, Gingrich reportedly said during a news conference last week:
Somebody who’s a front-runner for the presidency of the United States should get a full vetting. It’s the nature of the process. If I’m able to answer them [questions] in a way that the American people feel comfortable, then I’ll be a legitimate front-runner.
Somebody who’s a front-runner for the presidency of the United States should get a full vetting,” Gingrich said. “It’s the nature of the process. If I’m able to answer them [questions] in a way that the American people feel comfortable, then I’ll be a legitimate front-runner
The Christian Science Monitor reported that Gingrich has a 4-point national edge over Mitt Romney, according to the latest CNN/Opinion poll. The GOP candidates will meet Tuesday night at Washington's DAR Constitution Hall for a debate focused on foreign policy.
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