Public Service Is Worth More Than a Billion: Keith Krach

Bloomberg News
April 23, 2020, 7:30 AM PDT

To the Editor:

Re Ben Stupples’s story, “State Department Official Becomes Billionaire on DocuSign Stake” (April 17):

The article says that as the former CEO of DocuSign and current Undersecretary of State, I had become a billionaire as a result of DocuSign’s recent runup in stock price and “benefited from a pandemic that’s left millions of Americans unemployed.” To be clear: it simply is not true. From my experience, Bloomberg reporters are among the finest in the world but occasionally even the best make mistakes. I divested my entire stake in DocuSign and my other holdings as a condition of joining the federal government, meaning I profited in no way. These divestments all took place during the last calendar year and were publicly disclosed.

While my policy has always been to not comment about my net worth, seeing the multitude of outraged commentary and spinoff articles from around the globe made me realize that this is much more than just an inaccurate representation of my integrity. This misstatement jeopardizes the mission and credibility of my worldwide team as we feverishly respond to the myriad issues spawned by the pandemic. It has the potential to undermine the work of thousands of civil servants and foreign service officers who are giving their all every day to keep America and the world safe, healthy and running, and it undercuts our ability to operate with the trust necessary to accomplish the mission.

We’ve repatriated more than 60,000 Americans who were stranded overseas by this pandemic. We’re working directly to accelerate supply chains for PPE and other vital supplies to safeguard the lives of our health-care workers, their patients, and American families. Our team’s undertakings overseas and here at home are crucial to combating the economic implications of the most profound global health crisis in a century.

The dedication, professionalism and selflessness of our public servants makes me proud to serve by their side. There is no other place on earth I would rather be than right here, right now. This is a defining moment for our nation and the world. We are all in this pandemic together, and together is the best way to get through it. Millions of dedicated health-care workers, first responders and, yes, public servants, are digging deep and giving their all to help. If you want to serve, we are hiring.

Keith Krach
Undersecretary of State
U.S. State Department
Washington, D.C.
April 23, 2020