Tillerson’s $400m global empire
Trump’s pick for secretary of state discloses far-flung assets in federal ethics filing, including $300m in Exxon Mobil interests
Washington/Chicago — Rex Tillerson, US president-elect Donald Trump’s pick for secretary of state, disclosed assets worth as much as $400m in a federal ethics filing that reflected investments spanning more than a dozen nations. If confirmed by the US Senate, Tillerson will recuse himself for a year from government decisions involving Exxon Mobil, where he served as chairman and CEO until January 1, according to a separate filing posted by the Office of Government Ethics on Wednesday. Because the company explores for oil and natural gas on six continents, he may have a lot of recusing to do. Tillerson stood to receive a payout of about $180m from Exxon in lieu of restricted stock awards that had yet to vest, the company said on Tuesday. Irrevocable Trust In his ethics filing, Tillerson said money would be placed in an irrevocable trust that would be managed by an independent trustee. In all, Tillerson’s disclosures reflect more than $300m in Exxon interests and pension benefits and ...
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