Ever wonder how politicians manage to make enough money to be bartenders or DC Navy Yard digs owners, or to own a luxurious estate on Martha’s Vineyard while talking about taxing the wealthy?
View Stacey Abrams’ rise as an example of how politicians can make a lot of money even on a low salary.
Stacey Abrams’s net wealth soared to over 2,800% in just three years due to her holdings at Now Corp.
Abrams 2018 financial disclosure revealed that she had a net worth of only $109,000. She has a campaign filing showing that her net worth is $3.17million.
Abrams, Lara Hodgson, and John Hayes co-founded NowAccount in 2010. Abrams was the senior vice president of NowAccount and was paid $80,000 annually.
Abrams’ fintech company made just $100,000 per annum in 2013 The taxpayers had to bail out $1.5million in bad loans in 2013
After an investment and financing deal, NowAccount’s value soared to $29 million. Abrams declared her bid to be governor of Illinois in 2022, just eight weeks after receiving $29 million.
Abrams suggested taxpayer funding under the 2010 Jobs Act. Abrams discussed the possibility of conflict with her position as minority leader at Georgia House. Abrams stressed that she didn’t want conflict.
Pay close attention to the section on the loan. The start-up she worked for was paying her $80k a year. This meant that taxpayers were responsible for a few million in bad loans.
It gets even better.
Happy Faces Personnel Group, Inc. was one of the companies associated with Abrams’ NowAccount. Happy Faces was an election-night personnel firm that was hired by Abrams to scan and count ballots in Atlanta’s Fulton County, on November 3, 2020.
Carter Jones’s 29-page witness report claims that Happy Faces created a “massive chain of custody issue” in which absentee ballots were placed in rolling containers 2k at a given time, instead of in “numbered sealed containers to protect [the] votes.”
Jones was hired by the Georgia Secretary of State’s Office to investigate irregularities in voting. Jones was stunned to discover that one Happy Faces employee had stated his intention to “fck sh*t-up” on election night.
Fulton County was forced to stop counting mail-in votes in November 2020 because of a burst pipe. The ballots were captured by surveillance cameras and then allegedly re-counted by poll watchers.
Two Fulton County employees were fired after registration forms were shredded.
Georgia is currently under investigation for these strange events and dealing with an electorate that distrusts this system. Abrams insists she had nothing to do With NowAccount’s shenanigans. It seems like she’s doing well.
Abrams ran in 2018 for governor with just $5,000 in retirement funds. She also had student loans and IRS tax debt. Abrams ran for governor in 2018. Abrams has a substantial retirement nest egg with more than $725,000 in bonds and stocks, and a personal net worth of over $3 million.
Stacey is a skilled worker and has earned a lot. Abrams doesn’t seem to be a victim despite media portrayals.