President-elect Trump has named a number of billionaires to prime roles in his subsequent administration — a mix value over $360 billion and that features the world’s richest individual.
Elon Musk, the Tesla CEO, brings the huge bulk of that wealth: a web value of greater than $346 billion, with that worth fluctuating daily. However even with out Musk, the remaining billionaires who’re value a mixed greater than $15 billion outpace Trump’s first administration, which on the time was the wealthiest in trendy historical past, at $6.2 billion. Trump himself is reportedly value an estimated $5.6 billion.
Listed below are the billionaires anticipated to inventory Trump’s subsequent administration.
Elon Musk
The richest individual on the planet was tapped to co-lead the “Department of Government Efficiency” (DOGE), an advisory board tasked with taking a look at find out how to lower authorities waste via reducing the federal workforce, authorities applications and laws.
Musk, who was on Capitol Hill on Thursday assembly with lawmakers, is value greater than $346 billion as of Friday. His web value fluctuates commonly based mostly on his enterprise ventures and the market; Musk is the CEO of Tesla, SpaceX, and X, previously often known as Twitter.
Vivek Ramaswamy
Vivek Ramaswamy is the opposite co-lead of DOGE. He ran for president within the 2024 GOP presidential major earlier than he dropped out and put his full assist behind Trump.
At 39 years previous, he’s value $1 billion and is among the 20 youngest billionaires within the U.S. The biotech entrepreneur based pharmaceutical firm Roivant Sciences in 2014 and it went public in 2021. He stepped down as CEO of Roivant in 2021 when he first turned to politics.
Scott Bessent
Trump appointed Scott Bessent to be Treasury secretary, a task different main businessmen have been jockeying for. Bessent, if confirmed by the Senate, would lead Trump’s financial group, together with being accountable for imposing his aggressive tariff and tax plans
The South Carolina-based businessman is the founder and CEO of the hedge fund Key Sq. Group, which reportedly managed billions of {dollars} and at instances has additionally struggled with losses. He beforehand was an govt with Soros Fund Administration, the agency of Democratic donor George Soros.
Howard Lutnick
Howard Lutnick, who’s the co-chair for Trump’s transition group, was picked for Commerce secretary after angling for the Treasury prime job.
Lutnick is value greater than $1.5 billion. He’s the CEO of Cantor Fitzgerald and gained nationwide prominence for overseeing the corporate’s response following the 9/11 assaults that killed greater than 600 of its workers working contained in the World Commerce Heart in New York.
Linda McMahon
Linda McMahon is the opposite co-chair of Trump’s transition and was picked by the president-elect to steer the Training Division.
McMahon co-founded World Wrestling Leisure along with her husband, Vince McMahon, who has a web value of $3 billion. The couple was accused in a lawsuit in October of understanding a couple of ringside announcer who allegedly abused younger boys for years and doing nothing about it.
Jacob Isaacman
Trump named Jacob Isaacman to steer NASA within the incoming administration, appointing a tech entrepreneur who lately labored with Musk when he helped fund a SpaceX flight he was aboard in September.
He has a web value of $1.7 billion. Isaacman is the CEO of the processing agency Shift4 Funds, which he based at 16 years previous in 1999. He then based protection agency Draken Worldwide in 2011 and later offered it to Blackstone.
Warren Stephens
Trump appointed Stephens to function U.S. ambassador to the UK, which might ship him to England for one of the crucial coveted diplomatic roles.
Stephens is value $3.4 billion. The Arkansas-based billionaire has been chair and CEO of his funding banking firm Stephens Inc., for 3 many years. The financial institution was based by his uncle and father and after Stephens turned CEO in 1986, he purchased out his cousins.
Stephen Feinberg
Stephen Feinberg was tapped to function deputy Protection secretary this week, whereas Trump’s alternative for Protection secretary, Pete Hegseth, has confronted rising scrutiny over sexual assault, mismanagement of funds and extreme consuming allegations.
Feinberg’s web value is $5 billion. He’s the co-founder of the non-public fairness agency Cerberus Capital Administration, which invests within the grocery chain Albertsons and controversially was invested within the gun producer that made the rifle used within the 2012 bloodbath in Sandy Hook, Conn.
Kelly Loeffler
Kelly Loeffler, a former Georgia senator, was named to function administrator of the Small Enterprise Administration (SBA) on Wednesday.
She is married to Jeffrey Sprecher, who’s value $1.1 billion. Sprecher is the CEO of the inventory trade operator Intercontinental Alternate. Earlier than serving within the Senate, Loeffler was CEO at digital asset firm Bakkt, which Intercontinental Alternate shaped. She was additionally a co-owner of the WNBA’s Atlanta Dream earlier than promoting the group in 2021.
Charles Kushner
Charles Kushner, the daddy of Trump’s son-in-law, Jared Kushner, was named the U.S. ambassador to France.
The actual property agency he based, Kushner Firms, has a market worth of almost $3 billion. Kushner beforehand served two years in jail after pleading responsible in 2004 to prices of tax evasion, mendacity to the Federal Election Fee and retaliating in opposition to a federal witness. Trump pardoned him in the course of the closing month of his first time period in 2021.
