Mitch McConnell is the powerbroker of the US Senate, but he’s also a guy whose in-laws own a major shipping company that buys container ships from a Chinese Government company. The in-laws make money from carrying goods back and forward in deals with Chinese State Owned companies.
McConnell’s wife is a Chinese-American and also happens to be The Transportation Secretary of the US Government (!). Since Elaine Chao took up that job four years ago, her fathers company has expanded rapidly and has added 40 percent more ships. Her father, James Chao, is a shipping magnate that gave his daughter and her husband McConnell a gift of at least $5 million in 2008. That’s the conservative estimate — it might have been worth as much as $25 million dollars. (Nice in-laws if you can get them.) The largess was legally disclosed. The net worth of the political couple went from $3m in 2004 to something between $9 and $36m by 2018.
The Chinese Ship building company is called CSSC Holdings. McConnell’s wife’s family is so close to it that both her father and her […]
January 4, 2021 at 12:37PM