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Posted at 04:16 PM ET, 05/22/2013

Obama nominee Penny Pritzker’s $80 million mistake


President Obama nominated Penny Pritzker to head the Commerce Department earlier this month. (Andrew Harrer - BLOOMBERG)
Hey, these things happen: Penny Pritzker, President Obama’s nominee to lead the Commerce Department, understated her income by some $80 million and had to file a correction to her government-filed disclosures, Bloomberg is reporting.

That might sound like a lot of money, but it’s all relative. Pritzker, whose family founded the Hyatt hotel chain, is worth about $1.5 billion. So it’s easy to see how a few million — or 80 — could go missing.

Maybe she left it in the other purse?

A spokeswoman told Bloomberg that the $80 million was “a substantial amount” and that Pritzker’s advisers corrected the error as soon as they realized it.

Per Bloomberg: “Documents released last week show Pritzker received $32.2 million for a decade’s worth of consulting on the restructuring of domestic trusts,” but new filings indicated she made at least $80 million more than that.

By  |  04:16 PM ET, 05/22/2013

 
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