Donald Trump leads the richest US government in history
As he awaits the inauguration on 20 January, Donald Trump is still finalising the puzzle that will make up his new US government cabinet, which is on track to be the richest in history.
With seven billionaires in his ranks, including himself, Donald Trump enters the history books as the head of government with the Executive whose wealth is the largest in history: 348 billion dollars.
The figure of the new occupant of the White House has always been associated with wealth. So much so that, on numerous occasions, Trump has stated that he prefers to be remembered as a successful businessman rather than his role as President of the United States.
The idyll between fortune and Donald Trump is such that even Barak Obama, former president of the United States between 2008 and 2016, referred to Trump as ‘the reincarnation of success’. The presence of billionaires is not new in an administration led by the New York magnate. Billionaires such as Wilbur Ross, CEO of the investment fund WL Ross & Co. and Steve Mnuchin, former head of Goldman Sachs bank, are some of the rich who have already been part of the Republican cabinet.
Unlike in 2016, Trump counts among his ranks the world's richest person, Elon Musk, who amasses a net worth of 323.2 billion dollars. Alongside the CEO of Space X, Tesla and social network X are Howard Lutnick, Vivek Ramaswamy, Steve Witkoff, Scott Besant and Linda Mc Mahon.
Elon Musk
Elon Musk is the wealthiest person to ever work for Trump, with a net worth of 323.2 billion dollars. Musk, co-chair of Trump's Government Efficiency Commission, will work with conservative businessman Vivek Ramaswamy outside the federal government in the ‘Department of Government Efficiency Management’ and both have stated that they want to cut more than 2 trillion dollars from the federal budget.
Vivek Ramaswamy
Founder of Reuvant Sciences, Ramaswamy has earned more than 1.1 billion dollars from the sale of pharmaceuticals and biotechnology products. In addition, the company, which went public in 2021, has a market value of 9 billion dollars. It currently holds 10% of the company's shares.
In the Trump administration, he will be responsible, together with Elon Musk, for reducing public spending by 2 billion dollars through the Department of Government Efficiency Management.
Steven Witkoff
Steven Witkoff is expected to serve as Trump's special envoy to the Middle East. Witkoff is a real estate developer and owns at least 1 billion dollars through his stake in the real estate development company Witkoff Group, which deals in luxury flats, hotels and office space across the country.
Scott Besant
Trump's pick for Treasury secretary is hedge fund manager Scott Besant. Besant worked twice for George Soros and was involved in two of the financier's most successful bets: shorting sterling and the Japanese yen. In 2017, he founded his own company, Key Square. Although he has supported Democrats in the past, Picent is now fully aligned with Trump.
This one’s a throwback, been saying this for a long time. Honored that President Trump has given us the opportunity to fix it. pic.twitter.com/n3AGaesmln
— Vivek Ramaswamy (@VivekGRamaswamy) November 17, 2024
Linda Mc Mahon
After Elon Musk and Donald Trump, Linda Mc Mahon will be the fifth richest member of the government. With a fortune of 3.5 billion dollars, Linda is the current CEO of the WWE, and for the past few years has led the America First Policy Institute movement.
After Trump's victory in the elections on 5 November, Linda will be appointed Secretary of Education. A position for which Ms. Mc Mahon has no previous experience. The appointment follows Lutnick's confirmation as Commerce Secretary, a post previously earmarked for Linda.
Howard Lutnick
With a fortune in excess of 3.9 billion dollars and more than 35 years of experience as CEO of Cantor Fitzgerald and chairman of the Newmark Group. In the words of the Republican candidate, Lutnick is ‘the most qualified person for the position of US Secretary of Commerce’. In addition, the US tycoon will oversee 13 agencies, including the Patent and Trademark Office and the Census Bureau.
