Dupage Policy Journal

Rep. Deanne Mazzochi (R-Westmont) is calling for transparency following a recent Better Government Associate (BGA) report that found the blind trust set up to manage Gov. J.B. Pritzker’s portfolio had bought stock in health insurance giant – and state contractor – Centene Corp. in 2020.

In a Feb. 25 news conference regarding the BGA report, Mazzochi referenced the state’s conflict of interest statute, which prohibits any person holding elective office from having any direct pecuniary interest in any contract that will be even partially satisfied by the payment of funds appropriated by the general assembly.

“Despite Gov. Pritzker’s promises to not invest in companies, he did invest in Centene Corporation who has received billions of dollars in state contracts for Medicaid services,” Mazzochi said in the conference.

“Today we know that despite his legal advice, the governor's not-so-blind trust actually did get an ownership interest in a company that was awarded the state contract worth billions of dollars,” Mazzochi said. “The time has come for the governor to come clean with the residents of Illinois and be open, honest and fully transparent about his financial interest during his tenure including what he owns, what got bought, what got sold.”

According to the BGA report, the purchase of stock in Centene was made on behalf of the governor by trustees at Northern Trust, appointed by Pritzker to manage his portfolio and separate investment decisions from his role as governor. Mazzochi highlighted comments by Pritzker’s campaign attorney Mark Elias stating Illinois law prohibits Pritzker and his immediate family from having a direct financial interest in any contract that is funded by state dollars. 

Similarly, he said, no company in which Pritzker or his immediate family have ownership interests may enter into a contract with the state. 

Mazzochi said it is unknown if he has investments from other companies that have state contracts.

"The investment in Centene — which collected more than $2.6 billion from state Medicaid contracts in the first half of 2021 alone — demonstrates the pitfalls of a blind-trust arrangement that still leaves the nation’s richest governor open to potential conflicts of interest,” the BGA report states. 

A report by FOX 23 Chicago highlighted comments from Pritzker’s lawyers, stating the governor receives no information regarding potential investments and that he had no knowledge of the trust's current assets. 

According to Forbes, Pritzker has a net worth of $3.6 billion, making him the richest politician in the U.S.