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Photo: Alex Wong/Getty Images

Jerry Falwell Jr. confirmed to the Washington Post Wednesday that he'll receive $10.5 million from Liberty University after resigning following a Reuters story alleging that he and his wife had a years-long intimate relationship with business partner Giancarlo Granda.

What he's saying: Falwell told WashPost Liberty's board was "gracious not to challenge" his severance package of $2.5 million over the next two years, during which he can't work for a rival institution, and a further $8 million in retirement, per his 2019 contract.

The state of play: Liberty University said it accepted the resignation of Jerry Falwell Jr. on Tuesday effective immediately, following a Reuters story alleging that he and his wife had engaged in a years-long intimate relationship with business partner Giancarlo Granda.

  • The university said in a statement to news outlets including Axios that Falwell sent a resignation letter late Monday night after first agreeing to resign and then reversing course.
  • Liberty's Board of Trustees unanimously voted to affirm Falwell's resignation on Tuesday morning, the university said in a statement. The board plans to meet in Lynchburg to form a search committee for a new president.

Of note: Liberty said Monday that Falwell agreed to resign as its president and from its board of directors, but "following media reports about the resignation, withdrew it."

  • The university said since the evangelical leader and outspoken Trump ally had taken an "indefinite leave of absence" over an earlier incident "additional matters came to light that made it clear that it would not be in the best interest of the University for him to return from leave and serve as President."
  • Falwell "responded by agreeing to resign immediately," the statement continued, "but then instructed his attorneys to not tender the letter for immediate resignation."

The big picture: Falwell had agreed to the indefinite leave of absence on Aug. 7 after posting a photo of himself with unzipped pants and an arm around a woman on social media.

  • The Reuters report, which came after Falwell claimed he was extorted by former pool attendant Granda over his wife's affair, only intensified calls for his resignation.
  • Falwell also faced criticism for his controversial political statements and decision to bring students back to campus in March, despite the threat of the coronavirus.

Editor's note: This article has been updated with the latest details on Falwell's resignation and the fallout from the Reuters report.

Go deeper

Updated 1 hour ago - Politics & Policy

Facebook paying up to $14M to settle employment discrimination claims

Photo: T.J. Kirkpatrick/Bloomberg via Getty Images

Facebook has agreed to pay up to $14.25 million to settle allegations that it discriminated against American workers by reserving positions for temporary visa holders, the Justice Department announced on Tuesday.

Why it matters: The settlement represents the largest civil penalty and monetary award that the Civil Rights Division has recovered in the 35-year history of the Immigration and Nationality Act's anti-discrimination provision.

Updated 3 hours ago - World

Mapping repression in China's Xinjiang region

Data: © Mapbox, © OpenStreetMap; Map: Will Chase/Axios

A sweeping new report released today by an Australian research organization reveals new details about how the Chinese Communist Party — and specifically who within the party — is carrying out its campaign of repression in Xinjiang.

Why it matters: Uncovering the actual offices and individuals implementing the Chinese government's genocide and forced labor policies in Xinjiang can bring accountability and help international companies delink supply chains in compliance with U.S. and EU forced labor laws.

Report: U.S. Latinos near 50% homeownership rate

Real estate broker Alex Betances sits in front of a home in Reading, Pa. Photo: Ryan McFadden/MediaNews Group/Reading Eagle via Getty Image

Latinos increased their homeownership rate to nearly 50% in 2020, according to a report from a group monitoring U.S. Hispanic wealth creation.

Why it matters: The Hispanic Wealth Project found that the homeownership rate grew despite the lack of diversified financial assets among Latinos and around 15% who still live below the federal poverty line ($26,500 for a family of four).