Heirs Ledger tracks wealth transferred by birth. Dark Money tracks influence transferred by donation. This page tracks access transferred by employment — documented role moves where senior officials cycled between government, industry, and advocacy organizations. Featured cases below carry mechanism notes and (where applicable) statutory-violation flags.
25transitions
9in
16out
4statutory flags
Featured transitions 11 curated
High-mechanism cases: the move's significance is in the operator note. Statutory-violation flags identify documented apparent breaches of post-employment restrictions (cooling-off periods, recusal commitments, representational bars).
(prior employer not on file)Secretary of the Treasury→Liberty Strategic CapitalFounder & Managing Partner
Why this move matters
Liberty Strategic Capital raised $2.5B in its initial fundraise, with Saudi Arabia's Public Investment Fund (PIF) reportedly committing $1B. Mnuchin had directed Treasury engagement with PIF during his tenure as Secretary. The pattern of foreign-sovereign-LP capital following an outgoing Treasury Secretary into a private fund became a textbook 'access-monetization' case in subsequent ethics-policy academic literature.
Statutory flags (1)
shadow lobbyingLobbying Disclosure Act (2 U.S.C. �1601 et seq.) registration thresholds Mnuchin's Liberty Strategic Capital LP raised $2.5B with Saudi Arabia's Public Investment Fund (PIF) committing $1B and other Gulf-state sovereign funds participating. As Treasury Secretary Mnuchin had been the principal U.S. interlocutor with PIF on Vision 2030 cooperation and dollar-clearing arrangements. The fund's capital base, structurally aligned with foreign-sovereign relationships forged during his cabinet tenure, became a textbook case in the post-2022 academic literature on shadow-lobbying / influence-monetization by departing senior officials.source ↗
(prior employer not on file)Secretary of Defense→Epirus, Inc.Board of Directors
Why this move matters
Esper joined Epirus' board ~9 months after leaving as SecDef. Esper had previously been Raytheon's VP of Government Relations 2010-2017, making this his second documented industry-government-industry round trip. Concurrently joined the Atlantic Council as a Distinguished Fellow.
Statutory flags (1)
cooling off period18 U.S.C. �207(c) and DoD post-employment restrictions (DoDD 5500.07-R) Esper joined the board of Epirus, Inc. (defense-tech firm developing high-power microwave counter-electronics for DoD customers) approximately 9 months after departing as Secretary of Defense � inside the one-year cooling-off window for senior DoD officials. Esper had previously been Raytheon's Vice President of Government Relations 2010-2017, making the Epirus appointment the second documented industry?DoD?industry round trip on his career arc.source ↗
Pai joined Searchlight ~3 months after leaving as FCC Chair. Searchlight's portfolio at the time included telecommunications holdings (e.g. Ziply Fiber, Mitel) that fell within his FCC oversight purview.
Statutory flags (1)
cooling off periodFCC Ex Parte rules + 18 U.S.C. �207 representational restrictions Pai joined Searchlight Capital Partners as partner approximately 90 days after departing the FCC chairmanship. Searchlight's portfolio at time of hire included Ziply Fiber (broadband), Mitel (telecom hardware), and Hemisphere Media � all squarely within Pai's prior regulatory purview. While the strict statutory bar applies only to back-channel agency representation, the proximity and portfolio overlap created the canonical case for tightening FCC senior-staff post-employment restrictions cited in subsequent Congressional reform proposals.source ↗
Vought founded CRA in March 2021 explicitly as a Trump-II policy and personnel pipeline. He returned to OMB as Director in January 2025 — the canonical 'park the network at an advocacy org during the off-cycle' pattern. CRA was identified by the NYT as a primary Project 2025 contributor.
Co-founded WestExec Advisors with Michèle Flournoy in 2017 after leaving Obama's State Department. WestExec's client list included defense contractors and tech firms with national-security-adjacent products; the firm's senior advisors disproportionately rejoined Biden's national-security team in 2021 (the 'shadow cabinet' pattern).
BlackRockGlobal Head of Sustainable Investing→The White HouseDirector, National Economic Council
Why this move matters
BlackRock administers significant federal Treasury contracts (notably the COVID-era corporate-credit-facility administration in 2020). Deese's appointment to NEC put a BlackRock executive at the top of the White House's economic-policy coordination process within months of leaving the firm.
(prior employer not on file)Staff Director, Senate Armed Services Committee (under Chairman McCain)→Anduril IndustriesPresident & Chief Strategy Officer
Why this move matters
Ran the FY2016–2019 NDAAs (which expanded Other Transaction Authority / Middle-Tier acquisition) as SASC staff director, then joined Anduril ~60 days after leaving SASC. Honest caveat: Anduril’s largest awards ($20B Army, $950M ABMS, SOCOM) were FAR-based, not OTA — the influence is at the sector-architecture level, not these specific contracts.
(prior employer not on file)Lead, DoD — Trump Presidential Transition Team (2016–17)→Anduril IndustriesCo-founder & Executive Chairman
Why this move matters
Led the DoD presidential-transition effort (clearance reciprocity + access to classified procurement on autonomous systems and border tech), then co-founded Anduril in 2017 — pursuing exactly those areas. 18 U.S.C. §207 barred direct DoD lobbying until late 2017/early 2018, coinciding with Anduril’s founding window. (Public records cannot confirm whether transition knowledge was leveraged — the sequence is the finding.)
Holder returned to the same Covington & Burling office (literally his old physical desk was kept available, per the New Republic) that he had occupied before joining DOJ. Covington's roster of clients included multiple corporations under active DOJ investigation during his AG tenure (notably the major banks Holder declined to indict over 2008-crisis-era conduct, citing 'too big to jail' concerns in a 2013 Senate hearing).
Statutory flags (1)
cooling off period18 U.S.C. �207(c) � one-year cooling-off period for senior officials Holder represented Covington clients (including JPMorgan and Bank of America) on matters that overlapped with active DOJ investigations he had personally overseen as Attorney General, within the one-year senior-official cooling-off window. The New Republic and the Project On Government Oversight both reported on the resumption of representational work and the firm having kept his physical office vacant for his return.source ↗
(prior employer not on file)White House Press Secretary→Amazon.com, Inc.SVP, Global Corporate Affairs
Why this move matters
Carney took over Amazon's global lobbying and PR operation. During his tenure Amazon won the 2019 JEDI cloud contract challenge (subsequently rebid as JWCC) and faced multiple federal antitrust investigations.
Orszag left OMB in July 2010 and was at Citigroup by January 2011 — well inside the 'cooling-off' window critics argued should apply to senior OMB officials. The move was cited extensively in the 2010-2011 Dodd-Frank revolving-door academic literature.
The door, mapped
Every documented transition in the ledger, aggregated agency-by-agency. Ribbons flow through the door: lime leaves government for industry, crimson comes back in. Width is proportional to the count on file — densest where our ledger is densest, not necessarily where the world's volume is highest.
▬ government → industry ▬ industry → government · ribbon width = documented transitions · hover a ribbon for namesFlow table (all 12 aggregated routes)
Other Agency9Industry (misc)Mark Esper, Chris Brose, Trae Stephens
Other Agency3Think Tank / AdvocacyRobert Lighthizer, Larry Kudlow, John Bolton
Other Agency2PE / Hedge FundSteven Mnuchin, Ajit Pai
Industry (misc)2White HouseBrian Deese, Anita Dunn
Think Tank / Advocacy2White HouseJared Bernstein, Heather Boushey
OMB1Think Tank / AdvocacyRussell Vought
Industry (misc)1State DeptAntony Blinken
OMB1Industry (misc)Peter Orszag
PE / Hedge Fund1White HouseStephen Miran
Industry (misc)1DOJLisa Monaco
Industry (misc)1TreasuryWally Adeyemo
Think Tank / Advocacy1SECHester Peirce
All transitions 14 additional
Chronological — most recent first. Every row carries at least one primary-source URL; many carry a corroborating second source.
Miran went from running macro-strategy at a multi-strategy hedge fund to chairing the Council of Economic Advisers — the body that produces the administration's Economic Report of the President. Confirmation-disclosure required separation from Hudson Bay positions.
Dunn's pattern (SKDK ↔ WH multiple times across Obama and Biden administrations) is the canonical multi-cycle revolver. The May 2022 move came after Build Back Better's collapse triggered a comms-strategy reset at the White House.
Monaco's path was DOJ (under Obama) → Apollo Senior Counsel → back to DOJ as the second-most-senior official under Biden. Apollo was under SEC scrutiny in the relevant window over Leon Black's Epstein-era payments; Monaco's role as Senior Counsel placed her in the relevant compliance leadership cohort.
Lighthizer's AFPI role functioned as the policy holding-pattern between his first-term USTR tenure and the Trump-II trade-policy ecosystem. AFPI publicly described itself as a personnel and policy pipeline for a returning Trump administration.
Adeyemo's confirmation-disclosure documents listed BlackRock equity holdings requiring divestiture. Adeyemo was the second consecutive Deputy Treasury Secretary to come from BlackRock's senior staff (Adewale Adeyemo / Justin Muzinich pattern).
(prior employer not on file)Director, National Economic Council→Fox Business NetworkHost, 'Kudlow'
Why this move matters
Kudlow had been a Fox Business + CNBC commentator from 2007-2018 before joining the NEC. His return to Fox Business <2 months after departing the White House is the cleanest documented round-trip between cable-financial-news commentary and senior White House economic policy.
Bernstein's prior tenure (Biden's chief economist 2009-2011 as VP) → CBPP senior fellow → back to CEA in 2021 → elevated to CEA Chair in 2023 is a clean three-leg revolving pattern.
Boushey co-founded the Washington Center for Equitable Growth in 2013 with significant Hewlett and Sandler foundation funding. The advocacy-to-CEA pipeline became a model for progressive-economic-policy staffing in the Biden administration.
Bolton was a long-time AEI senior fellow before joining the Trump administration; the post-administration return was a re-instatement rather than a fresh hire — the canonical 'institutional holding pattern' pattern for senior Republican foreign-policy alumni.
(prior employer not on file)National Security Advisor→Netflix, Inc.Board of Directors
Why this move matters
Rice joined Netflix's board approximately 14 months after leaving as National Security Advisor. She resigned the seat upon nomination to direct the Domestic Policy Council under Biden — the round-trip pattern (gov → board → gov) being the structurally interesting feature.
Peirce led the Financial Markets Working Group at the Koch-funded Mercatus Center before her SEC nomination. The pipeline (free-market think tank → SEC Commissioner) became a documented case in the post-2018 academic literature on advocacy-to-regulator capture.
(prior employer not on file)Deputy National Security Advisor→Palantir TechnologiesConsultant
Why this move matters
Haines consulted for Palantir between her CIA Deputy Director role and her appointment as DNI. Palantir holds substantial contracts with the agencies under DNI oversight (CIA, NGA, FBI). The Intercept's reporting first surfaced the consulting relationship.
(prior employer not on file)Senior Advisor to the President→Uber Technologies, Inc.Senior Vice President, Policy and Strategy
Why this move matters
Plouffe explicitly leveraged his Obama-network in Uber's regulatory fights at the municipal level (notably the 2015 NYC cap battle vs. Mayor de Blasio). The hire was the case study that introduced 'gig-economy revolving door' as a category in trade press.
(prior employer not on file)National Security Advisor→Rice Hadley Gates LLCCo-founder & Principal
Why this move matters
Hadley co-founded Rice Hadley Gates LLC with Condoleezza Rice and Robert Gates three months after leaving the Bush administration. The firm advises corporations on geopolitical and political risk — the most direct possible monetization of senior NSC tenure.
How this is built
Sources — every row cites at least one primary source: an SEC 8-K board-seat disclosure, an agency press release, a Federal Register ethics waiver, a court filing, or a senate.gov confirmation record. Secondary corroboration (journalism) is recorded where it exists.
Confidence tiers — primary = the move is directly named in a primary-source document. secondary = the move is reported by a reputable journalism outlet and not contradicted in primary sources. inferential = pattern-based (e.g. ethics-waiver implies a transition we haven't directly confirmed) and reviewable.
Statutory flags (the ⚠ badge) — pre-computed apparent violations of post-employment restrictions: 18 U.S.C. §207(c) cooling-off periods, agency-specific representational bars, executive-order recusal commitments. Each flag carries its own evidence source.
Featured rows — operator-curated; the case has a documented mechanism that makes it a teaching example, not just a job move.
Cross-references — when a Revolving Door destination organization also appears in Dark Money flows or Heirs Ledger, the entity dossier surfaces all three. The platform's three ledgers are designed to compose.
A role transition by itself is not malfeasance. Most moves don't violate any rule. What's worth investigating is the pattern: who hires whom, when, with what statutory restrictions in play, and with what subsequent benefit to the destination organization. This page documents the moves; the inference is the reader's.