Newtie’s empire
by digby
“… a soft spot for its has-beens, even those who gave up power in defeat or disgrace.”
Former House speaker Newt Gingrich transfigured himself from a political flameout into a thriving business conglomerate. The power of the Gingrich brand fueled a for-profit collection of enterprises that generated close to $100 million in revenue over the past decade, said his longtime attorney Randy Evans.
Among Gingrich’s moneymaking ventures: a health-care think tank financed by six-figure dues from corporations; a consulting business; a communications firm that handled his speeches of up to $60,000 a pop, media appearances and books; a historical documentary production company; a separate operation to administer the royalties for the historical fiction that Gingrich writes with two co-authors; even an in-house literary agency that has counted among its clients a presidential campaign rival, former senator Rick Santorum (R-Pa.).
Separate from all of that was his nonprofit political operation, American Solutions for Winning the Future. Before it disintegrated this summer in Gingrich’s absence, American Solutions generated another $52 million and provided some of the money that allowed the former speaker to travel by private jet and hired limousine.
Along the way, Gingrich has become a wealthy man, earning $2.5 million in personal income last year, according to his financial disclosure form.
As unforgiving as Washington can be, it has long had a soft spot for its has-beens, even those who gave up power in defeat or disgrace.
There is a well-trodden path from Capitol Hill to downtown law and lobbying firms, where former members of Congress can earn a far better living than they did when they were on the taxpayer’s dime — and still have afternoons free for golf.
But that would be a narrow and confining existence for a man who has always considered himself a transformational figure, and even a historic one.
“He just had a vision for being a great citizen,” said Evans, who set up Gingrich’s business operation and served as its chairman. “He looked for ways to participate in the dialogue that was going on.”
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