Dr. Anthony Fauci and his spouse had a net worth of over $11 million when the then-director of the National Institute of Allergy and Infectious Diseases stepped down from his top government role, documents show.
Fauci and Christine Grady, who heads the bioethics department at the National Institutes of Health Clinical Center, saw their combined wealth balloon from around $7.6 million in 2019 to $11.5 million in late 2022, though they reported $12.6 million in 2021, according to Fauci's 2022 financial disclosure. The net worth increase over the years was the result of cash awards, salary hikes, royalties, and investment gains.
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"Dr. Fauci’s guidance had enormous consequences for public health and our economy, all while his wife is the top bio-ethicist at the NIH," Adam Andrzejewski, the CEO of the federal spending watchdog Open the Books, told the Washington Examiner. "Together, they became decamillionaires even though they are thought of as public servants compensated with our tax dollars."
In August 2022, Fauci announced he would be leaving his government post in December. The ex-official, who was also the chief medical adviser to President Joe Biden, has been a major foe of former President Donald Trump and the Republicans, who have criticized him for changing positions on topics related to COVID-19 and sowing doubt on the Wuhan, China, lab leak theory — which the Energy Department determined in February 2023 to be the most likely cause of the disease's spread.
The disclosure, which was filed with the Office of Government Ethics, shows Fauci's assets have been spread between mutual funds, trust funds, and retirement accounts. Fauci, who was the highest-paid employee in the federal government, received $481,000 in 2022, up from $456,000 in 2021, records show.
Grady held $2.1 million in a Charles Schwab trust account and $111,000 in an IRA through Charles Schwab. Meanwhile, Fauci's account balances totaled $9.25 million.
Fauci also reported six gifts and travel reimbursements, including $2,500 in connection to a November 2022 dinner in honor of his portrait being installed in the National Portrait Gallery from the Smithsonian Institution and $1,500 from an award he received one month later from the Edward M. Kennedy Institute for the United States Senate, a Boston nonprofit group.
Moreover, Fauci's 2022 disclosure lists his up-to-$15,000 stake in the famous San Francisco restaurant Jackson-Fillmore, as well as "rents and royalties" from McGraw-Hill Publishers, Inc., which published an internal medicine volume in March by Fauci and other doctors.
In 2021, Fauci notably pocketed about $1 million in prizes from nonprofit groups across the world, Open the Books said, noting the Israel-based Dan David Foundation gave him $901,400 for "defending science" and "speaking truth to power" during the Trump presidency.
"During the COVID-19 pandemic, Americans lost their livelihoods and had their businesses shuttered by the nation’s highest-paid career bureaucrat, Dr. Tony Fauci," a spokesperson for the GOP-led Select Subcommittee on the Coronavirus Pandemic told the Washington Examiner, adding that the panel "will thoroughly investigate potential profiteering from pandemic celebrity" Fauci.
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The National Institute of Allergy and Infectious Diseases did not reply to a request for comment.
Grady also didn't respond to the Washington Examiner's request for comment.
Tags: Anthony Fauci, NIH, News, Biden Administration, Coronavirus, Healthcare
Original Author: Gabe Kaminsky
Original Location: Dr. Anthony Fauci and wife had $11 million net worth before he left government
