Ousted evangelical Jerry Falwell Jr., is out of a job but apparently in the money. Resigning from Liberty University will mean a windfall for the former president of the university. The Washington Post reports that “His contract entitles him to a $10.5 million severance package, Falwell, 58, told The Washington Post late Tuesday — in part because he is departing from the university without being formally accused of or admitting to wrongdoing.”
Falwell said he will receive $2.5 million over 24 months, equivalent to two years’ salary. He agreed not to work for a competing university during that time. After two years, he will receive around $8 million in retirement. Falwell said he signed a 20-page contract in July 2019 that outlined the terms.
Falwell told the paper “The board was gracious not to challenge that.”
A spokesman for Liberty didn’t respond to requests for comment, including about how much the school might owe Mr. Falwell in compensation following his resignation.
Falwell resigned this week after Reuters revealed that sFalwell’s wife, Becki Falwell, had sex with a business associate while her husband watched. After the story came out Falwell admitted his wife had an affair with Giancarlo Granda but alleged the man was trying to extort him. Granda has since released a statement disputing that claim, calling Falwell a “predator.” He also says Falwell sent him a picture of a Liberty University student exposing herself at Falwell’s farm.
