Republicans wealth boosted by stake in company whose growth linked to China – The Guardian US
The Wisconsin Republican senator Ron Johnson, a vocal critic of Beijing who has vowed to launch investigations into the Biden familys alleged relationships with Chinese businesses, declared $57m in income in his first 10 years in office in connection to his ownership stake in a company whose growth has closely been linked to China.
Financial disclosures show the senators wealth has sharply increased during his years running for and serving in the Senate thanks to his holding in Oshkosh-based Pacur, a plastics maker where Johnson previously served as top executive.
Johnson is seeking re-election for a third term in a tough contest against Democrat Mandela Barnes, who polls show has a slight edge over the Republican incumbent.
During his first run for public office before his 2010 election, Johnson portrayed himself as a successful businessman who knew how to create jobs. An advertisement he used in both his successful 2010 and 2016 campaigns showed the 67 year-old standing in front of a white board, touting his own record as a manufacturer, a fact that he said made him stand out in a sea of lawyers who serve in the Senate.
A close examination of Johnsons financial disclosures and other public filings to the Securities and Exchange Commission, legal filings and other public records reveal that Johnsons wealth was boosted by his companys 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 Johnsons 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 Johnsons father-in-law, Howard Curler.
SEC documents show that, from about 1998 to 2010, Bemis paid tens of millions of dollars to Pacur, which was a supplier to Bemis. Johnson also personally owned Bemis stock, valued at between $1m and $5.2m on financial disclosure forms. The stock was later gifted to the senators family foundation, called the Grammie Jean Foundation.
A spokesperson for Johnson said the senator had no beneficial interest in the foundation.
Bemis, records show, had a steady and growing presence in China under the leadership of Jeffrey Curler, Howard Curlers son and Ron Johnsons brother-in-law. The company has plants in China and in 2013, records show, appear to have acquired tens of millions of dollars in Chinese debt in connection to a Chinese acquisition. SEC filings show that Bemis also disclosed in 2016 that it had a $50m Bank of China loan.
Bemis was sold to Australia-based Amcor in 2018 in a deal valued at $6.8bn. The Guardian reached out to Amcor for more details about the $50m loan, which appeared in Bemis filings before Amcor acquired the company. A spokesperson for Amcor said Amcor was not involved in the loan and did not have insights into the transaction.
Bemis was also active on issues related to trade during Johnsons Senate tenure.
In two cases, the group filed suit against the US governments policies on trade in China, including one suit in 2018. In the legal action brought by Bemis and Rollprint Packaging Products, the plaintiffs sued the United States to contest a finding by the International Trade Commission in support of tariffs on China. The lawsuit did not appear to proceed beyond the complaint. At the same time, Johnson was a vocal critic of US trade policy against China, marking a rare disagreement with Trump.
Johnson has also made speeches in the Senate that criticized financial transactions by the presidents son Hunter Biden, which he claimed were tied to Communist China and meant that Joe Biden was probably compromised on China.
The Biden familys vast web of foreign financial entanglements, Johnson alleged, had serious implications, and Johnson said he and fellow Republican senator Chuck Grassley of Iowa would continue to investigate them.
Our challenge is the deep state does not give up its secrets easily, Johnson said in a speech on the Senate floor in March.
A recent investigation by the Washington Post found that CEFC China Energy, a Chinese energy conglomerate, paid nearly $5m to entities controlled by Hunter Biden and his uncle. But it did not find evidence that Joe Biden personally benefited or knew about the transactions, which occurred after Biden left the vice-presidency and before he announced his presidential run.
Alexa Henning, a spokesperson for Johnson, denied that Johnson had any connections to his own family companys previous business interactions with Chinese companies.
He never had any managerial involvement in, or knowledge of the management actions taken by Bemis Company and had no connection to China or conflict of interest there.
Until your inquiry, he had no knowledge of Bemiss business holdings in China or any legal action Bemis was involved in. The Bemis company was one of many customers Senator Johnsons business sold plastics to, Henning said.
She also defended Johnsons position on tariffs. His belief is politicians in both parties have used Chinas trade abuses to demagogue against their political opponents without enacting effective solutions.
Henning also denied that Johnson accrued $57m in income in connection to Pacur from 2009 to 2020, because she claimed some of the funds were designated as gross receipts even though they are listed in financial disclosure forms as income.
Gross receipts are the amount of business that an organization reports before stripping out expenses. When asked by the Guardian to explain why Johnson had listed the funds as income in his financial disclosures, and what the gross receipts referred to, Henning did not respond.
Got a tip? You can contact the reporter at Stephanie.Kirchgaessner@theguardian.com
See the article here:
Republicans wealth boosted by stake in company whose growth linked to China - The Guardian US
- Marjorie Taylor Greene hints that she might be finished with the GOP: I dont know if the Republican Party is leaving me - The Independent - August 3rd, 2025 [August 3rd, 2025]
- A war is brewing over the future of the Republican Party. Its getting messy. - Politico - August 3rd, 2025 [August 3rd, 2025]
- By the Numbers: Harmful Republican Megabill Takes Food Assistance Away From Millions of People - Center on Budget and Policy Priorities - August 3rd, 2025 [August 3rd, 2025]
- Is Sydney Sweeney a Registered Republican? What We Know - Newsweek - August 3rd, 2025 [August 3rd, 2025]
- Guns, Jeans, and Republican: How Syndey Sweeney became MAGA's new muse and a Conservative icon - Times of India - August 3rd, 2025 [August 3rd, 2025]
- 2028 Presidential election candidates: Full list of Republican hopefuls eyeing the White House - Mint - August 3rd, 2025 [August 3rd, 2025]
- Sydney Sweeney revealed to be Republican after eugenics row - The Telegraph - August 3rd, 2025 [August 3rd, 2025]
- Is Sydney Sweeney a Republican? Fact-checking the viral claim amid the 'controversial' Euphoria actor's A - Times of India - August 3rd, 2025 [August 3rd, 2025]
- After The Whole American Eagle Backlash, It's Emerged That Syndey Sweeney Is Indeed A Republican - Yahoo Home - August 3rd, 2025 [August 3rd, 2025]
- The Republican campaign to stop the U.S. EPA from protecting the climate - Yale Climate Connections - August 3rd, 2025 [August 3rd, 2025]
- Elon Musk gave $15 million to Republican allies just before announcing his own America Party - CNN - August 1st, 2025 [August 1st, 2025]
- 'Time to go!': Republican slammed by voters at town hall over MAGA policies - MSNBC News - August 1st, 2025 [August 1st, 2025]
- Texas map would add five safe Republican seats. What it means for the midterms. - The Washington Post - August 1st, 2025 [August 1st, 2025]
- VP Vance visits Ohio to tout the Trump/Republican One Big Beautiful Bill Act - Ohio Capital Journal - August 1st, 2025 [August 1st, 2025]
- Republican Town Hall Goes Off the Rails as Hes Showered in Boos - The New Republic - August 1st, 2025 [August 1st, 2025]
- Republican congressman suffers broken rib from horse kick - The Washington Post - July 30th, 2025 [July 30th, 2025]
- Republican Suffers Broken Rib After Being Kicked By Horse: What To Know - Newsweek - July 30th, 2025 [July 30th, 2025]
- More than $5M in excess Republican National Convention funds donated to local orgs - Milwaukee Record - July 30th, 2025 [July 30th, 2025]
- Chad Prather to headline annual Wells County Republican Party Reagan Rally - Bluffton News-Banner - July 30th, 2025 [July 30th, 2025]
- Republican Party calls for Alachua County School Board members resignation over Hulk Hogan comment - WCJB - July 30th, 2025 [July 30th, 2025]
- Rep. Deborah Ross on the Republican mega-bill, the war on public broadcasting, and the Epstein files - NC Newsline - July 28th, 2025 [July 28th, 2025]
- Republican Rep. Nancy Mace says shes definitely leaning towards running for South Carolina governor next year - Fox News - July 28th, 2025 [July 28th, 2025]
- Episode 35: Trump Clears the Field in Republican Primaries and Dems Get Their Pick in N.C. - Cook Political Report - July 28th, 2025 [July 28th, 2025]
- Tapper, Republican Senator Markwayne Mullin spar on the effort to release the full Epstein files - CNN - July 28th, 2025 [July 28th, 2025]
- Food and faith converge at Ukrainian Seminary Day in Primrose - Republican Herald - July 28th, 2025 [July 28th, 2025]
- The Republican Disaster Relief Disaster and the Democratic Path Forward - Washington Monthly - July 28th, 2025 [July 28th, 2025]
- Rock Hill congressman becomes 4th Republican to enter SC governors race - South Carolina Daily Gazette - July 28th, 2025 [July 28th, 2025]
- Republican Con Artist From Queens Reports to Prison - Mother Jones - July 27th, 2025 [July 27th, 2025]
- Federal utility assistance program on the chopping block, but this Kentucky Republican has glowing reviews - WUKY - July 27th, 2025 [July 27th, 2025]
- Guess Which Texas Republican Was Just Accused of Paying for Abortions? - Yahoo Home - July 27th, 2025 [July 27th, 2025]
- Pa. Republican House members office vandalized with vulgar graffiti - PennLive.com - July 27th, 2025 [July 27th, 2025]
- Red River Republican Women hear from 8 Republican Congress candidates - Clarksville Now - July 27th, 2025 [July 27th, 2025]
- Here are the likely Democratic and Republican contenders for Wisconsin governor in 2026 - Milwaukee Journal Sentinel - July 24th, 2025 [July 24th, 2025]
- 'Shirts and Skins': How one Republican bridged the gap to pass Trump's 'big, beautiful bill' - Fox News - July 24th, 2025 [July 24th, 2025]
- This Republican senator wants Congress to have more oversight of D.C. - The Washington Post - July 24th, 2025 [July 24th, 2025]
- An Inland Empire Republican lawmaker wants to update rules for immigrant workers. Will Trump listen? - CalMatters - July 24th, 2025 [July 24th, 2025]
- RAW: Republican Rep. Comer plans to move "quickly" with issuing subpoena to DOJ on Epstein, Clintons - WAAY 31 News - July 24th, 2025 [July 24th, 2025]
- Congressman Flood named chair of the Republican Main Street Caucus in Congress - KTIV - July 24th, 2025 [July 24th, 2025]
- House Republican introduces companion bill to end China's buying of American farmland - Fox News - July 24th, 2025 [July 24th, 2025]
- Its really theft: the Republican plan to redraw Texas maps and grab more power - The Guardian - July 22nd, 2025 [July 22nd, 2025]
- Trump Flips Out at Republican Lawmaker Exposing the Party on Epstein - Yahoo Home - July 22nd, 2025 [July 22nd, 2025]
- Republican divide over Fed renovation grows - Semafor - July 22nd, 2025 [July 22nd, 2025]
- Opinion | Heres the most baffling part of the Republican budget bill - The Washington Post - July 22nd, 2025 [July 22nd, 2025]
- Exclusive | NY Young Republican Club urges Congress to disqualify Mamdani from NYC mayoral race accuses him of giving US enemies aid and comfort -... - July 22nd, 2025 [July 22nd, 2025]
- A Fourth Candidate, And First Republican, Ruth Bittner, Joins The Race To Fill Late Rep. Hortmans Vacant House Seat - Patch - July 22nd, 2025 [July 22nd, 2025]
- Republican Rep. Slams Mike Johnson Over Epstein Files As House Is Shut Until September To Block Vote - Latin Times - July 22nd, 2025 [July 22nd, 2025]
- Hernando County Republican Blaise Ingoglia sworn in as Florida CFO - Creative Loafing Tampa Bay - July 22nd, 2025 [July 22nd, 2025]
- Trump Flips Out at Republican Lawmaker Exposing the Party on Epstein - The New Republic - July 22nd, 2025 [July 22nd, 2025]
- Sarah McBride's first bill just passed Congress & not one Republican voted against it - Yahoo Home - July 22nd, 2025 [July 22nd, 2025]
- Pallone slams Republican cuts to beach replenishment funding: 'Theyre pulling the sand out from under us' - Insider NJ - July 22nd, 2025 [July 22nd, 2025]
- Murray, UW Medicine & Harborview CEOs Sound Alarm on How Republican Medicaid Cuts Will Devastate Hospitals, Threaten Specialty Care People in... - July 22nd, 2025 [July 22nd, 2025]
- DAVID MARCUS: Stephen Colberts character is the latest never-Trump Republican to fall - Fox News - July 20th, 2025 [July 20th, 2025]
- Inside the House Republican-led plot to defy Trump on the Epstein files - Axios - July 20th, 2025 [July 20th, 2025]
- One WA Republican chisels at the MAGA wall on immigration - The Seattle Times - July 20th, 2025 [July 20th, 2025]
- Republican rumblings: on Trump and the Epstein files - The Hindu - July 20th, 2025 [July 20th, 2025]
- What Musk's fracture with Trump means for GOPs future: Beating heart of the Republican Party - Fox News - July 20th, 2025 [July 20th, 2025]
- Whats in the Republican bill cutting $9 billion from public broadcasting and foreign aid - Hot Springs Sentinel Record - July 20th, 2025 [July 20th, 2025]
- Republican Miller, Democrat Berry discuss priorities ahead of Aug. 5 special election for 20th House district - Bay to Bay News - July 20th, 2025 [July 20th, 2025]
- Letters to the editor: Republican debt solution, response to Epstein - Macomb Daily - July 20th, 2025 [July 20th, 2025]
- Republican lawmakers trying to repeal governor's 400-year funding veto - WKOW - July 20th, 2025 [July 20th, 2025]
- Jill Biden aide invokes Fifth to decline testimony in Republican investigation - ABC News - July 20th, 2025 [July 20th, 2025]
- Tensions over Epstein files complicate Republican plan to vote on cuts bill - The Guardian - July 18th, 2025 [July 18th, 2025]
- Jill Biden aide invokes Fifth to decline testimony in Republican investigation - AP News - July 18th, 2025 [July 18th, 2025]
- 2004 to 2024, Part Two: When Each State Was at its Most Republican - Center For Politics - July 18th, 2025 [July 18th, 2025]
- Republican Scott Jensen to run for governor again in 2026, says state budgeting has been 'irresponsible' - 5 EYEWITNESS NEWS - July 18th, 2025 [July 18th, 2025]
- What's in the Republican bill cutting $9 billion from public broadcasting and foreign aid - yourvalley.net - July 18th, 2025 [July 18th, 2025]
- They took it to the next level: Emmer breaks down the Republican crypto rebellion - Semafor - July 18th, 2025 [July 18th, 2025]
- Whats in the Republican bill cutting $9 billion from public broadcasting and foreign aid - WOWK 13 News - July 18th, 2025 [July 18th, 2025]
- Republican Tax Bill Is a Losing Deal for Gamblers - The New York Times - July 18th, 2025 [July 18th, 2025]
- Mike Johnson Reacts to Republican Blowback Over Jeffrey Epstein - Newsweek - July 18th, 2025 [July 18th, 2025]
- JD Vance urges Republican voters to 'talk to your friends' about the 'big, beautiful bill' - NBC News - July 18th, 2025 [July 18th, 2025]
- Key Senate Republican thinks deal in the offing over FBI HQ location dispute - Politico - July 16th, 2025 [July 16th, 2025]
- Georgia's Raffensperger calls for return of donations after Republican donor accused of Ponzi scheme - Colorado Newsline - July 16th, 2025 [July 16th, 2025]
- Three Republican senators break with Trump to vote against codifying DOGE spending cuts - The Independent - July 16th, 2025 [July 16th, 2025]
- Moore taps Carroll County Republican, Army vet to head veterans department - Maryland Matters - July 16th, 2025 [July 16th, 2025]
- Key Senate Republican to meet with Trump on funding clawback request - Politico - July 16th, 2025 [July 16th, 2025]
- Gov. Kelly Ayotte vetoes Republican-backed bill aimed at banning certain books in schools - WMUR - July 16th, 2025 [July 16th, 2025]
- The Republican senators to watch on cutting PBS, NPR and foreign aid funding - Axios - July 16th, 2025 [July 16th, 2025]
- This small House Republican caucus held US stablecoin bill hostage until Trump cracked the whip - CryptoSlate - July 16th, 2025 [July 16th, 2025]
- Why more of Hobbs Arizona agency director nominees won Republican approval this year - KJZZ - July 16th, 2025 [July 16th, 2025]