One of the wealthiest of the Obama administration appointees, Dr. Margaret Hamburg, has to offload her stock pretty quickly–apparently that’s what comes from being married to a very successful hedge fund manager and holding a wide range of health and other medical related stock, says the Wall Street Journal. The new FDA chief is going to take a pretty significant pay cut–going from about $10 million per year to her yearly salary at FDA of $150,000.
Many of Dr. Hamburg’s stocks, as well as her husband’s, were inherited–but even those must go, including holdings in Johnson and Johnson, pharmaceutical benefits management company, Medco, and Merck. The good news: Hamburg gets to keep her family farm, even though animal issues and vet meds are covered by the FDA, so long as decision-making at the farm is done by someone else.
Summer Johnson, PhD