Republican’s wealth boosted by stake in company whose growth linked to China | Wisconsin | The Guardian

A close examination of Johnson’s financial disclosures and other public filings to the Securities and Exchange Commission, legal filings and other public records reveal that Johnson’s wealth was boosted by his company’s ties to another company that was owned and managed by his family, which in turn grew its business in China, acquired businesses in China, and reported having a loan worth tens of millions of dollars from the Bank of China.

In one case, the company run by Johnson’s family sued the US government to try to press for softer trade relations with Beijing, a position that Johnson himself adopted in a rare break with Trump administration policies.

Johnson sold his stake in Pacur in 2020, although documents show that an LLC owned by Johnson and his wife, Jane, still receives up to $1m annually through rent and royalties as owners of the building where Pacur operates.

Pacur was co-founded by Johnson and his brother-in-law in the 1970s. It was in effect closely tied to a larger company called Bemis, which was founded and run by Johnson’s father-in-law, Howard Curler.

Source: Republican’s wealth boosted by stake in company whose growth linked to China | Wisconsin | The Guardian