- President Donald Trump’s Cabinet is the wealthiest of recent administrations.
- Populated by former executives, bankers, and public figures, Trump’s cabinet represents some of the most elite groups in the country.
When Trump raised eyebrows by announcing the select group of executives, bankers, and media-made millionaires, he defended his choices as deliberately searching for successful people, likening the future department heads to wealthy athletes.
„I want people that made a fortune because now they’re negotiating with you,“ Trump said in December 2016. „It’s not different than a great baseball player or a great golfer.“
Though there have been a bevy of staff changes over the past two years, Trump’s Cabinet has remained full of high earners.
Secretary of Education Betsy DeVos: $1.1 billion
Both the education secretary and her husband, Amway heir Dick DeVos, hailed from wealthy and powerful Michigan families.
When it comes to all of her assets, the public disclosure form indicated DeVos raked in an income between $53,962,468 and $134,894,706 between January 2016 and Spring 2017.
Though the secretary is considered a Level 1 member of the executive branch, and therefore qualified to receive a base pay of $207,800, DeVos said at her confirmation hearing that she would like to take home a salary of $1.
Secretary of Commerce Wilbur Ross: $506.5 million
Ross spent decades working with a bankruptcy advisory business before starting a private equity firm, WL Ross & Co., in 2000, which he later sold for around $375 million.
The secretary has been the subject of controversy after insisting, but not being able to prove, that he was worth $2 billion. He has also faced multiple allegations of referencing phony transactions and embezzling money going back years.
In 2017, Ross’s assets were estimated to be worth between $326 and $687 million.
Secretary of the Treasury Steve Mnuchin: $252 million
Mnuchin spent 17 years at Goldman Sachs before a stint working with billionaire George Soros, which led to Mnuchin founding his own hedge fund.
His other business interests in recent years include funding movies such as „Mad Max: Fury Road“ and „American Sniper.“
In 2017, Mnuchin’s assets were estimated by the New York Times to be valued between $154 and $350 million.
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Source: business insider