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The Economics of Being a U.S. Ambassador
Key Excerpts from Article on Website of Bloomberg Businessweek


Bloomberg Businessweek, December 13, 2012
Posted: December 18th, 2012
http://www.businessweek.com/articles/2012-12-13/the-economic...

To land a high-profile ambassadorship, it helps to have raised a ton of money for a successful presidential candidate and know how to throw a good party. Thats one reason why President Obama is considering Vogue editor-in-chief Anna Wintour as the next U.S. ambassador to the Court of St. Jamess in the U.K. Wintour raised more than $500,000 for Obama and inspired the Runway to Win fashion line that brought in upwards of $40 million for his campaign. But thats just the price of admission. The funds embassies receive from the U.S. Department of State dont begin to cover the high costs of the frequent parties and dinners ambassadors are expected to host. Some wind up paying more than $1 million a year out of their own pockets, according to one of the presidents top donors who requested anonymity. This is why the high-profile postings to places like France and Italy typically go to wealthy donors, rather than career diplomats. The current ambassador to the U.K., Louis Susman, a former Chicago investment banker, holds three to four social events a week, says an embassy spokeswoman, who declined to give a cost estimate for these soirees. In exchange, appointees get perksbeginning with the sought-after title of ambassador. In some Western European countries, they live in sprawling estates such as Londons Winfield House. Its 12-and-a-half acres of private gardens are exceeded only by those of Buckingham Palace. The ambassador to Italy can avail himself of a three-story, 5,000-bottle wine cellar at the Villa Taverna in Rome.

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