President Trump’s pick for Army secretary had to take a pass on the prestigious position due to the difficulty of distancing himself from his many holdings as a billionaire entrepreneur.
Vincent Viola, who is a West Point graduate and a retired Army Major, started up an electronic trading firm called Virtu Financial and also owns a hockey team called the Florida Panthers.
According to Forbes Magazine, Viola’s company is headquartered in Hong Kong and is worth an estimated $2.4 billion and his own wealth is estimated at $1.8 billion, putting him in the top 400 of America’s wealthiest people.
As Army secretary, Viola would have needed to sell off some of his business holdings to avoid conflicts of interest but found the task of removing himself from companies he spent the last 35 years creating to be an impossible one.
Viola told The Military Times, “I am deeply honored to have been considered for this post, and appreciate the confidence President Trump showed in me. I offer my continued support for President Trump and his administration, and look forward to re-doubling my efforts to support the Army and its veterans as a private citizen.”
Related News: U.S. Army Has New Sidearm
If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).
To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.
Sign up to get breaking news alerts from Dennis Michael Lynch.