Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Top News
Top News
Politics

Trump's Wealthy Cabinet Picks Raise Concerns

President-elect Donald Trump's Cabinet picks, other nominees and appointments, pose for a photo at the National Gallery of Art in Washington, Saturday, Jan. 18, 2025. First row from left, Elise Stefan

President Donald Trump's administration is shaping up to be a reflection of his Mar-a-Lago lifestyle, with extremely wealthy Americans taking on key roles. From overseeing government efficiency to leading education and commerce departments, here's a closer look at some of Trump's picks and what they could mean:

Elon Musk

With a net worth estimated above $400 billion, Musk is chairing the new Department of Government Efficiency, tasked with slashing federal spending. Questions have been raised about potential conflicts due to his businesses' ties to the government.

Linda McMahon

McMahon, worth at least $3 billion, is Trump's pick for secretary of education. She and Trump support expanding school choice programs and withholding federal money from schools that do not meet certain demands.

Doug Burgum

The North Dakota governor, with an estimated net worth of $1.1 billion, could become the interior secretary. He aims to implement Trump's promise of making it easier for energy companies to tap fossil fuel resources.

Scott Bessent

Bessent, a veteran hedge fund manager worth many hundreds of millions, is set to be the treasury secretary. He will play key roles in implementing Trump's tax policies and tariffs on imports.

Howard Lutnick

Lutnick, with an estimated net worth of $1.5 billion, is nominated for secretary of commerce. He will be at the forefront of Trump's trade wars with various nations and oversee agencies like the Census Bureau.

Kelly Loeffler

Loeffler, the Georgia businesswoman leading the Small Business Administration, was the wealthiest senator during her tenure. She faced ethics complaints over alleged insider trading but was later cleared of any wrongdoing.

Jared Isaacman

Isaacman, a financial services billionaire, is set to lead NASA. His selection underscores Trump's preference for wealthy individuals in key roles, as private sector billionaires like Musk and Bezos now compete in the space sector.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.