Donald Trump's upcoming cabinet worth over $450B: Meet the members
What's the story
US President-elect Donald Trump has put together a second-term team that beats his own record for wealth. The net worth of his appointees and nominations exceeds a jaw-dropping $450 billion, way more than the $11 billion net worth of his first administration's cabinet in 2016. This wealthy administration includes members such as Frank Bisignano, Steve Witkoff, Jared Isaacman, Elon Musk, and Stephen Feinberg.
Cabinet profiles
Bisignano and Ramaswamy
Among the prominent appointees is Fiserv CEO Frank Bisignano, who will head the Social Security Administration. His fortune, estimated at $1 billion by Bloomberg News, largely stems from his Fiserv stock holdings and executive pay. Biotech entrepreneur and Roivant founder Vivek Ramaswamy has been appointed to co-head the Department of Government Efficiency with Musk. Ramaswamy's net worth is around $1 billion, according to Forbes.
Additional appointees
Real estate mogul and space enthusiast join Trump's team
Real estate mogul Steve Witkoff will be Trump's Middle East Envoy. Witkoff, a friend of Trump since the 1990s, is worth over $1 billion, according to Forbes. Jared Isaacman, founder of Shift4 and Draken International, is Trump's pick to lead NASA. A space enthusiast who has been involved in SpaceX missions, Isaacman is worth around $1.7 billion.
High-profile nominations
Meet Lutnick and Stephens
Howard Lutnick, CEO of Cantor Fitzgerald, has been tapped as Commerce Secretary. Lutnick's wealth is estimated at $2.2 billion by Bloomberg News. Meanwhile, Warren Stephens, CEO of Stephens Inc, has been nominated as Ambassador to the United Kingdom. Stephens's net worth stands at approximately $3.4 billion according to Forbes.
Billionaire appointees
Musk is the wealthiest individual in Trump's circle
Stephen Feinberg will be the Deputy Defense Secretary. Feinberg co-founded Cerberus Capital Management and is worth roughly $5 billion, according to Forbes. Musk, who heads a number of high-profile companies including Tesla and SpaceX, is the richest person in Trump's circle with a net worth of about $448 billion, as per Forbes.