Wednesday, March 14, 2018

Disbursements From Offshore Trusts Directed to Charity

Throughout this campaign, JB has been transparent about his finances and today’s article only confirms what he has always said. First, generations ago there were trusts set up offshore by JB’s family and JB does not manage or oversee them. Second, as the Tribune details, any distributions made from those trusts are directed to charity and JB has never received a personal disbursement from any trust located offshore. Finally, JB’s statement of economic interest lists assets held not only by JB personally, but also by trusts and the Pritzker Family Foundation.

REALITY CHECK:

• JB Pritzker is a beneficiary of trusts that were set up decades ago. JB does not manage or oversee them.

• JB directs any distributions that have been made from those trusts, including $50 million in the past three years, to charity.

• From 2014 to 2016, JB’s trusts paid $24.95 million in Illinois taxes and $128.97 million in federal taxes.

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