Paul Atkins, nominated by President-elect Donald Trump for the role of chairman of the Securities and Exchange Commission (SEC), has a notable financial background intertwined with one of the country’s wealthiest families.
Atkins, 66, has previously served as an SEC commissioner from 2002 to 2008 during the administration of former President George W. Bush. He is recognized as a proponent of cryptocurrency regulations, praised by Trump for his leadership in striving for sensible regulatory measures. However, it is Atkins’ personal associations that draw significant interest.
His wife, Sarah Humphreys Atkins, is the granddaughter of E.L. Craig, the founder of Tamko Building Products, a major player in the U.S. roofing industry. Established in 1944, Tamko has grown to become the nation’s fourth-largest manufacturer of roofing shingles, boasting a revenue of $1.2 billion last year.
The Humphreys family holds a 75% stake in Tamko, while a 25% stake was sold to the Carlyle Group in 2019. Despite tempting offers, the family maintains substantial ownership, reportedly turning down offers to sell the business at a valuation of up to $3.5 billion. Their involvement further extends to the board, where Paul and Sarah Atkins, along with other family members, play key roles.
David Humphreys, Sarah’s brother, serves as the president and CEO of Tamko, continuing the legacy after their father. Despite political differences, particularly with Trump, David has made significant donations to conservative causes.
Sarah Atkins herself is an influential figure, contributing millions to political and charitable foundations. She presides over the J.P. Humphreys Foundation, focusing her contributions on conservative think tanks.
Paul Atkins complements his wife’s profile with his own career achievements. He founded Patomak Global Partners, a consulting firm advising financial companies on compliance. Additionally, both he and Sarah have influenced offshore ventures linked to the Humphreys family, though these entities are now inactive.
Their lifestyle mirrors their wealth, with properties in Virginia and Florida. As part of a broader trend, Atkins joins several other wealthy nominees in Trump’s administration. His nomination highlights the blend of personal wealth and public service under the new administration.
Paul Atkins’ nomination to head the SEC underscores a recurring theme of wealthy individuals assuming government roles, reflecting both business acumen and intricate family connections.
Source: Forbes
