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Photo: Anna Moneymaker-Pool/Getty Images

John Kerry disclosed millions in income and a massive stock portfolio that he's liquidated since taking office as President Biden’s special climate envoy, according to a financial filing obtained by Axios on Friday.

Why it matters: Kerry is among the wealthiest members of the Biden administration. He maintains significant influence over U.S. energy and environmental policy as Biden's climate envoy, a role that comes after he advised a number of firms in the space following his time as secretary of State.

  • The State Department, where Kerry officially works again, says he has divested assets that could pose a conflict of interest, and signed an ethics pledge barring him from participating in specific policymaking decisions that could affect his former clients and employers.

The big picture: Kerry received millions of dollars in salary, consulting fees and honoraria, according to the filing, which covers 2020 and most of January 2021.

  • He drew a $5 million salary from Bank of America. He was tapped as chairman of the bank's global advisory council months after his tenure as Barack Obama's second secretary of State.
  • He landed $382,400 in speaking fees from entities including Deutsche Bank, Waste Management and Cornell University.
  • Kerry also reported compensation "in excess of $5,000" for more than a dozen other speeches in 2019, including ones to Barclays, Zurich Insurance and the foundation run by Ukrainian oligarch Victor Pinchuk.

Kerry also reported receiving $125,000 in consulting fees from The Rise Fund, an investment firm with a significant renewable energy portfolio, just one of the entities in the energy and environment space to which he reported business ties.

  • Kerry was the advisory board chairman for Climate Finance Partners, which "creates innovative and globally needed finance solutions that address climate change."
  • He was also the president of the Vietnam Sustainable Energy Corporation.
  • In addition, Kerry reported receiving more than $5,000 in compensation as an advisor to the New York-based investment firm Ripplewood, which specializes in leveraged buyouts. The firm is run by his friend Tim Collins.

Kerry's huge stock portfolio was largely held through a trust affiliated with his wife Teresa Heinz Kerry, heiress to the Heinz food processing fortune.

  • He reported liquidating between $4.2 million and $15 million in stock holdings last month.
  • Federal ethics rules could permit Kerry to defer capital gains taxes on those sales by reinvesting the money in "permitted" assets such as treasury bonds or exchange-traded funds. It was not immediately clear whether Kerry had done so or planned to.

What they're saying: "The State Department's Ethics Office reviewed Special Presidential Envoy Kerry's assets and investments upon his appointment to identify holdings that could pose a significant risk of a conflict of interest," a State Department spokesperson told Axios.

  • "Special Presidential Envoy Kerry agreed to divest the assets identified by the Ethics Office and has done so."

Go deeper

Updated 5 hours ago - Politics & Policy

British national named in Colleyville synagogue standoff

A law enforcement vehicle sits near the Congregation Beth Israel synagogue on Jan. 16. Photo: Brandon Bell/Getty Images

British national Malik Faisal Akram took four people hostage at a Texas synagogue outside Fort Worth on Saturday, the FBI said in a statement.

State of play: Authorities had initially declined to release the name of the 44-year-old suspect or identify the hostages, all adults, though police chief Michael Miller confirmed that one of those held was Rabbi Charlie Cytron-Walker, who leads the congregation.

Updated 5 hours ago - Politics & Policy

Omicron dashboard

Illustration: Brendan Lynch/Axios

  1. Health: Concerns grow over CDC's isolation guidelines — Experts warn of more COVID-19 variants after Omicron — WHO recommends 2 new treatments — What "mild" really means when it comes to Omicron — Deaths are climbing as cases skyrocket.
  2. Vaccines: America's vaccination drive runs out of gas— Puerto Rico expands booster shot requirements— Supreme Court blocks Biden's vaccine mandate for large employers.
  3. Politics: Vivek Murthy calls SCOTUS vaccine mandate block "a setback for public health" — Focus group says Biden weak on COVID response, strong on democracy
  4. Economy: America's labor shortage is bigger than the pandemic— — CDC COVID guidance for cruise ships to be optional starting Saturday — The cost of testing.
  5. States: West Virginia governor feeling "extremely unwell" after positive test — Youngkin ends mandates for masks in schools and COVID vaccinations for state workers — America struggles to keep schools open
  6. World: Beijing reports first local Omicron case weeks before Winter Olympics — Teachers in France stage mass walkout over COVID protocols.
  7. Variant tracker
10 hours ago - Sports

Novak Djokovic loses Australian visa appeal

Novak Djokovic of Serbia plays a forehand during a practice session ahead of the 2022 Australian Open at Melbourne Park on January 14, 2022. Photo: Daniel Pockett/Getty Images

Tennis star Novak Djokovic left Australia on Sunday evening, facing a three-year visa ban after an appeals court in the country revoked his visa.

Driving the news: Djokovic will not be able to defend his Australian Open title when the tournament starts in Melbourne. The World No. 1 is looking to break a three-way tie with Roger Federer and Rafael Nadal for most Grand Slam men's singles titles.

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