What Dr. Anthony Fauci's Financial Disclosures Reveal

Dr. Anthony Fauci clashed with Senator Roger Marshall on Tuesday during a hearing of the Senate health committee when the Republican lawmaker pressed Fauci on his salary and financial records.

During a tense exchange, Fauci, director of the National Institute of Allergy and Infectious Diseases, told the Kansas senator that his financial disclosures were available. He was later caught in a hot mic moment calling Marshall a "moron."

The senator insisted that his office could not find Fauci's financial disclosures. Although it appears that the NIAID director's 2021 disclosure is not available to the public, his 2020 disclosure can be accessed online.

The Center for Public Integrity, a nonprofit investigative journalism organization, has uploaded the 42-page document to documentcloud.org. It is also readable as a PDF.

The financial disclosure report—OGE Form 278e—lists Fauci's investments such as mutual funds and 2019 transactions for his contributory IRA, revocable trust and defined benefit plan.

It also includes information for his spouse's contributory IRA, revocable trust and defined benefit plan.

Although there are significant redactions in the document, particularly when it comes to figures, the form shows that the 81-year-old had invested in equity funds, bond funds and money markets.

The bulk of the document consists of information from Fauci's Schwab One Trust Account with financial services company Charles Schwab. Schwab describes this type of account as helping "prepare the way for easier management and protection of the assets within your trust account after your passing."

It also lists unrealized gains or losses from investments in 2019.

The form details investments in equity funds such as Tweedy, Browne Global Value (now Tweedy, Browne International Value Fund), Vanguard Small-Cap Index and CIBC Atlas Disciplined Equity Fund.

The longest section of the form consists of lists of transactions for the NIAID director's contributory IRA, revocable trust and defined benefit plan, along with the same accounts for Fauci's wife, Christine Grady.

These transactions include bank interest, cash dividends from various investments, share reinvestments and money spent on new investments.

The documents also list Fauci as an editor and associate at McGraw-Hill Publishers, beginning in 1983, and rents and royalties paid to him by the company for editing Harrison's Principles of Internal Medicine. According to the 2020 filing, those royalties amounted to between $100,001 and $1,000,000.

Fauci also had an investment in an Italian restaurant, Jackson Fillmore, valued at between $1,001 and $15,000.

The information in OGE Form 278e, which Fauci signed on April 21, 2020, is available to anyone online but the form for the following year does not appear to be accessible to the public at this time.

Conservative group Judicial Watch filed a Freedom of Information Act lawsuit in October last year seeking Fauci's 2021 OGE Form 278e, among other documents.

Fauci told Marshall on Tuesday: "My financial disclosure is public knowledge and has been so for the last 37 years or so."

When Marshall said he had been unable to find it, the NIAID director said it was "totally accessible to you if you want it."

The senator's line of questioning appeared to suggest that Fauci had personally profited from his role as director of the NIAID, though there is no evidence of this. Fauci has been the subject of repeated criticism from Republican lawmakers during the COVID pandemic, most notably Senator Rand Paul of Kentucky.

Anthony Fauci Answers Senators' Questions
Dr. Anthony Fauci responds to questions from Sen. Rand Paul (R-KY) at a Senate hearing on Capitol Hill on January 11. Fauci clashed with another GOP senator, Roger Marshall, over his financial records during the hearing. Greg Nash-Pool/Getty Images