President-elect Donald Trump has chosen at least half a dozen billionaires and several other ultra-wealthy business leaders to serve in top administration roles.
FILE - Republican presidential nominee former President Donald Trump arrives for a roundtable, accompanied by Howard Lutnick, CEO of Cantor Fitzgerald, in Auburn Hills, Mich., Oct. 18, 2024.
Trump’s team of rivals stands in stark contrast to Biden’s Cabinet, which had a combined net worth of $118 million in the first year of his presidency, according to Forbes. Trump’s picks have not yet released their financial disclosures, but his 2025 Cabinet is likely to be even richer than the first Trump Cabinet, which had a combined net worth of $6.2 billion.
Trump-Vance Transition spokeswoman Taylor Rogers said in a statement that Trump has made “brilliant decisions” on picks for his second administration and cabinet. “All these Treasury secretaries, my point is, always end up being sort of Wall Street guys. Do I think that’s a great trend? Not really,” Hawley said.
Democrats have roundly criticized Trump’s choices. The Democratic Party on Tuesday put out a news release that said Trump was “stacking his Cabinet with out of touch billionaires.” Sen. Elizabeth Warren told The Washington Post that the choices suggest Trump’s presidency will “be one giveaway after another for the wealthy and well-connected.”
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