Expedia gives board of directors seat to Chelsea Clinton
By April Kirstin Chua
Travel site Expedia just named Hillary Clinton's daughter, Chelsea Clinton, as a member of its board on Thursday. Clinton will be paid in accordance with the company's standard compensation policies for board members.
Aside from her connection with Trump's strong presidential candidate rival, Chelsea Clinton is given the seat due to her experience in technology and cyber security field. According to an Expedia proxy statement from August, Clinton's new position will provide her $45,000 a year in cash, in addition to $250,000 a year in stocks for the next three years. Board members who served on various committees were paid an additional $10,000 to $20,000. But Expedia said in a filing that Clinton has not been appointed to serve as a member of any committee.
Expedia's chairman, Barry Diller, is a longtime ally of Hillary Clinton and a contributor to the political family, as well. During the 2016 presidential campaign, Diller and his wife, Diane von Furstenberg, hosted an event called "Conversation and Dinner with Hillary Clinton". Tickets were priced at $100,000 per couple proving the amassed wealth of the Expedia chairman.
Diller has also collected 54 percent of the voting share for Expedia, which means that he has the authority to alter the number of the board from 13 to 14 people. This leads to the eventual nomination of Clinton and this is not the first time Diller has done so. He is also the chairman of IAC Interactive, the company that owns websites that include Dictionary.com, About.com, Vimeo, Investopedia and The Daily Beast. It is also where the younger Clinton also served as Board. The position earned her almost $50,000 in cash and $249,936 in stocks.
The new Expedia Board of Director also sits on the Clinton Foundation's Clinton Health Access Initiative, the School of American Ballet, the Africa Center, and Weill Cornell Medical College. She is also the co-chairman of the advisory board for New York University's Of Many Institute as per CNNMoney.
Clinton started her career working at McKinsey & Company, a management consulting firm, as well as, investment firm Avenue Capital Group. Later she moved on to a reporting gig in NBC News, where she earned $600,000 while conducting hard news.