Republican presidential nominee Donald Trump has revealed his newly formed economic council. All 15 members are men, six are called Steve, one is a hotdog vendor and two are actual economists.
“I am pleased that we have such a formidable group of experienced and talented individuals that will work with me to implement real solutions for the economic issues facing our country. For too long we have watched as President Obama and Hillary Clinton have ruined our economy and decimated the middle class,” Trump said in a statement. “I am going to be the greatest jobs president our country has ever seen. We will do more for the hardworking people of our country and Make America Great Again.”
The team of “top economists” from across the country consists of a handful of billionaires and a number of people Trump has come across in negotiations as well as in the courtroom.
John Paulson
- Qualifications: Paulson, 60, is the president and manager of a hedge fund that bears his name. Famously – or notoriously – he made billions by betting against the housing market prior to the 2008 economic crisis. Trump himself loves a housing crisis. “I sort of hope that happens because then people like me would go in and buy” property and “make a lot of money”.
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Education: Master in business administration
- Link: Trump is an investor in Paulson’s fund
- Net worth: $9.8bn
Tom Barrack
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Qualifications: Founder and executive chairman of Colony Capital, a private equity firm, served as deputy undersecretary of the interior under Reagan
- Education: JD (doctor of jurisprudence)
- Link: Barrack spoke at the Republican national convention this year. He and Trump were supposed to work together to develop the Old Post Office in Washington DC into a a luxury hotel. Trump was later said to be reconsidering the partnership and Barrack ultimately pulled out of the project.
- Net worth: At one point, Barrack made it onto Forbe’s Billionaires list but he has now dropped off. Loser!
Andy Beal
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Qualifications: Founder and chairman of Beal Bank, CSG Investments, Loan Acquisition Corporation, and CLG Hedge Fund, LLC
- Education: College dropout
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Link: Beal and investor Carl Icahn tried to take control of Trump Entertainment Resorts Inc in bankruptcy courts six years ago. Beal endorsed Trump back in February and said there were “no hard feelings”. Clearly he was right.
- Net worth: $10.5bn
Stephen M Calk (Steve #1)
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Qualifications: Founder, chairman and chief executive officer of Federal Savings Bank and National Bancorp Holdings.
- Education: Master in business administration. He is a graduate of the United States Army Aviation School and has served as a combat tactical helicopter pilot.
Dan DiMicco
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Qualifications: Executive chairman of the Nucor Corporation, a steel manufacturer; served on the board of the United States Manufacturing Council; author of the book American Made: Why Making Things Will Return Us To Greatness (sound familiar?)
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Education: Master of science in metallurgy and materials science
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Link: Trump’s adviser on trade
- Net worth: In 2012, DiMicco earned $8.65m as Nucor’s chairman and former CEO
Steven Feinberg (Steve #2)
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Qualifications: Co-founder and chief executive officer of Cerberus Capital Management. A reclusive Bronx-born billionaire whose firm owns Freedom Group, one of the US’s largest gun makers.
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Education: Bachelor of arts and science
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Link: Feinberg helped raise money for Trump in June
- Net worth: $1.24bn
Harold Hamm
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Qualifications: Oil billionaire, chief executive officer of Continental Resources, “fracker-in-chief”.
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Education: High school graduate
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Link: Hamm endorsed Trump a while back, saying that he will restore America to its rightful place as energy leader of the world. “Every time we can’t drill a well in America, terrorism is being funded,” Hamm said. Trump has been rumored to consider Hamm for the post of energy secretary if he is elected
- Net worth: $7.4bn
Dan Kowalski
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Qualifications: Deputy staff director of the Republican staff of the Senate budget committee; director of budget review for the Republican staff of the House budget committee
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Education: Master in public policy
- Link: Deputy director of policy for Trump’s campaign
Howard Lorber
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Qualifications: President and chief executive officer of Vector Group Ltd; chairman of Douglas Elliman Realty, LLC; And, in news that may make Democrat-leaning New Yorkers choke on their weiners, executive chairman of Nathan’s Famous Inc, New York’s famous hotdog vendor.
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Link: When asked for the names of his best friends, Trump named Lorber. Lorber’s son also once appeared as a judge on the Apprentice
- Net worth: $42.5m
David Malpass
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Qualifications: Served as deputy assistant Treasury secretary under President Reagan, deputy assistant secretary of state under President George W Bush, founder of Encima Global
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Education: Master’s in business administration
- Link: Trump’s economic adviser
Steven Mnuchin (Steve #3)
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Qualifications: Chairman and chief executive officer of Dune Capital Management, former Goldman Sachs partner, executive producer of American Sniper, Mad Max: Fury Road and Suicide Squad
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Education: Bachelor’s degree from Yale
- Link: Mnuchin is the finance chairman for Donald J Trump for President. Mnuchin previously teamed up with John Paulson to buy a troubled bank in 2008. He also previously did business with Trump, who at one point sued a group of investors that included Dune Capital
Stephen Moore (Steve #4)
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Qualifications: Chief economist at the Heritage Foundation and founder of Club for Growth.
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Education: Master of arts in economics
- Link: Trump has sought Moore’s help in rewriting of his tax plan. Back in November 2015, Moore disagreed with Trump when the Republican nominee said US wages were too high.
Peter Navarro
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Qualifications: Professor of economics and public policy at the Paul Merage School of Business at the University of California-Irvine.
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Education: PhD in economics from Harvard
- Link: Navarro has been advising Trump for months and has previously insisted that Trump’s presidency will not lead to a recession.
Steven Roth (Steve #5)
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Qualifications: Roth is the chairman and chief executive officer of Vornado Realty, a real estate investment trust that owns real estate in select US cities
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Education: Master’s of business administration
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Link: Trump and Roth co-own two buildings: one in San Francisco and one in New York. With 30% stake, Trump is a minority partner
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Net worth: $1.02bn
Stephen Miller (Steve #6)
Miller is Trump’s national director of policy and he will be working closely with Trump’s economic council. He is often described as Trump’s warm-up act.
