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Senate candidate Jon Ossoff of Georgia parlayed family wealth into media career
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How Senate candidate Jon Ossoff parlayed family wealth into an international media career
Michael Kranish, The Washington Post
Dec. 23, 2020
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Democratic candidate for Senate Jon Ossoff campaigns in Lilburn, Ga., on Dec. 7.Washington Post photo by Melina Mara.
Jon Ossoff was given a remarkable offer in 2013 when he was 26 years old. A longtime friend ran a small journalism company in London that produced films investigating corruption around the world. The friend wanted to step back from running the company and asked Ossoff to become CEO.
Ossoff, a former congressional aide, had no experience managing a company. But he had a sizable inheritance from his grandfather. He loaned $250,000 to the company, as did the friend, and Ossoff eventually invested an unspecified additional amount, making him CEO and majority owner.
Recent scrutiny has forced the issue of congressional stock trading into the limelight.
The potential conflict of interest is blatantly obvious. Lawmakers should focus on the most efficient legislation and not what might best serve their financial interests. Sure, some laws achieve both, but voters shouldn t have to worry if their Washington representatives stock portfolios would benefit from, or influence directly, their decisions as lawmakers.
A lawmaker who owns shares in America s big banks might have different views on banking deregulation, for example, said James Cox, professor of corporate and securities law at Duke University. We should be very concerned about the fact that if you re able to profit on individual stocks, it may impact the kind of decisions you ll make for your activities as a Senator, said Cox.
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