LOS ANGELES — Former President Bill Clinton has been known to make some questionable decisions, but investing in supermarkets was not one of them.
The potential future First Husband stands to gain $20 million from his investment in Yucaipa Cos., based here, thanks to the sales last year of Pathmark Stores and Wild Oats Markets, according to a report in the Wall Street Journal last week.
Clinton, said to be a friend of Yucaipa Chairman Ron Burkle, joined the investment firm in 2002. The two Yucaipa funds he was involved with made “hundreds of millions” in profits from the two deals, the Journal said, triggering an incentive package for Clinton estimated at about $20 million.
The former president ended his role as an advisor to Yucaipa last year, but he did not settle his payout until after the deals closed, allowing him to reap the profits, the Journal explained.