Election has been good for the Ricketts
January 24th, 2017
The Chicago Cubs’ championship win has been savored by the Ricketts family, which owns the team. But it’s the presidential election that’s turned out to be especially sweet.
According to Forbes, the Ricketts have gained an estimated $700 million since Election Day.
The publication says that’s thanks to climbing shares of brokerage giant TD Ameritrade, which was founded by J. Joe Ricketts. The Nebraska businessman is the father of Tom Ricketts, who runs the team with his siblings.
Forbes says a “hope for deregulation” has helped boost TD Ameritrade 34 percent since Trump’s election. Competing companies have seen shares rise, too.
Forbes puts the family’s net worth at an estimated $5.6 billion.
It’s an interesting turn of events.
Joe Ricketts early in the presidential campaign poured $5 million into an anti-Trump political action committee. Trump answered with a threat on Twitter, writing, “They better be careful, they have a lot to hide!”
As the primaries wound down, the Ricketts changed their tune and funneled $1 million into Trump’s campaign. (Except Laura Ricketts, who supported Hillary Clinton.)
Trump offered a thank you in naming Todd Ricketts (Tom’s brother) deputy secretary for the Commerce Department.