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- Feb 16, 2016
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The Remarkable Rags-to-Riches Story of Stacey Abrams
The Remarkable Rags-to-Riches Story of Stacey Abrams
By her own admission, Stacey Abrams has made a number of
By her own admission, Stacey Abrams has made a number of "personal financial missteps” in her career. Despite a history marked by bill collectors, tax liens, and ethics investigations, the Georgia politician and Democratic Party activist has managed to amass a small fortune – while working most of her career in the not-for-profit sector.
Financial records show that when she first entered statewide politics in 2018, she reported a net worth of less than $109,000. By 2022, the last year she had to publicly file a financial report, it had grown to more than $3.2 million. Abrams is probably even better off than that, thanks to her latest venture: Rewiring America, which uses federal funds to provide low-income people with free electric appliances.
The green-energy startup hired Abrams as senior counsel in 2023 after she helped secure federal funding for the nonprofit by putting together an umbrella group that applied for and won grants totaling $1.9 billion from the Biden Environmental Protection Agency, according to a podcast interview she gave last year. Those funds were frozen last month by the Trump administration while it investigates the grant application and award process along with Congress.
t’s just the latest in a string of investigations involving Abrams, who has presidential ambitions, and nonprofits she’s launched. Last month, Georgia lawmakers announced a special probe into her New Georgia Project and its fundraising arm, which failed to report millions of dollars in contributions and spending tied to Abrams’ first gubernatorial bid. She's also been accused by ethics watchdogs of personally misusing political donations raised for her campaigns.
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Tax filings and personal financial disclosures reveal some of her newfound wealth has come from nonprofit organizations she's started, including more than $750,000 through the Southern Economic Advancement Project and at least $427,500 from two New Georgia Project-tied nonprofits, where she worked part-time.
But that doesn’t account for all of it. Income from several book deals – several works of nonfiction and eight “romantic suspense novels” – also contributed to her wealth. The total value of those contracts is not public, but according to her 2022 disclosure, she owed her publishers advances totaling $800,000 against future royalties. Abrams has been accused of tapping public resources to drum up sales for her books. In 2018, Perry’s government watchdog group filed a complaint alleging she used her campaign staff and travel budget to promote her memoir “Minority Leader,” whose publisher gave her a $150,000 advance, according to a personal financial disclosure she filed in her bid for Georgia governor.
“It is illegal for the candidate to utilize campaign contributions and resources to promote and sell the candidate’s book,” wrote Perry, who now heads Georgia Ethics Watchdogs, in a complaint filed with the state’s campaign finance commission. “And this is precisely what Abrams has done."
Commentary:
It is not just Abrams, she is the tip of the iceberg. A nation with $37 trillion of national debt doesn't get that way without wholesale and utter contempt of the American taxpayer, perpetrated over a number of years by members of both parties.
A search of USAID records may reveal where Ms. Abrams has amassed her millions/billions as an NGO.
That's is unless like the Epstein files everyone wants to see haven't been destroyed before Trump was elected....
Meanwhile, DSA Marxist Democrats view her as a viable part of the parties future. The party is now at it's lowest popularity in nearly a century and they have little to no trust outside of their core party members. Making a public repudiation of Abrams and Menendez might begin to improve their reputation, but frankly I don't see that likely happening.
To understand: Democrats, or any other variety of totalitarian, are not incompetent; they are calculating, tireless, and ruthlessly malicious. Fiscal collapse has been their goal for over a century, since Woodrow Wilson unconstitutionally unilaterally declared the 16th and 17th Amendments "ratified." Their hope is that when the collapse comes it will be one of their administrations, and they will use the "emergency" (which, naturally, they caused) as an excuse to destroy the Constitution and eliminate the objective rule of law - to be replaced with "whatever they say." Welcome to the Huxley's "Brave New World", or if you like Orwell's "1984" come true.
