Donald Trump’s Cabinet Is The Richest In History
Donald Trump took a working class tone on his campaign trail, pledging to stand for those abandoned by the elite – but his choices for cabinet show he may now be singing a different tune.
So far, his choices include the co-owner of the Chicago Cubs, a woman who married into a retail dynasty and a multi-millionaire banker.
And democrats have been quick to attack.
Trump’s worth is estimated at $3.7bn (£3bn) by Forbes magazine – though he has said he is worth much more – with more than 500 businesses in his empire.
But he might not be the richest member of his team. Here’s a look into what is already being dubbed as the richest cabinet in modern U.S. history.
Betsy DeVos – Education Secretary
Daughter-in-law of Richard DeVos, who founded the Amway retail giant, is an heiress of Former Prince Corporation. Together, Betsy and her husband are worth an estimated $5.1 billion according to Forbes.
Wilbur Ross – Commerce Secretary
Forbes puts the wealth of Ross – known as the ‘King of Bankruptcy’ – who headed Rothschild Inc’s bankruptcy practice before starting an investment firm, at $2.5 billion.
Steven Mnuchin – Treasury Secretary
After 17 years at Goldman Sachs, he founded a hedge fund and later bought a bank that became known for seizing the homes of borrowers who fell behind on mortgage payments.
Reports put his worth at $40 million, although the Wall Street Journal puts him in at 12.5 times higher than that at $500 million.
The worth of these three cabinet members alone are worth 126 times the combined wealth of Obama’s entire 15 member cabinet in 2009 – or 26.5 times the entire wealth of George W. Bush’s entire cabinet.
Todd Ricketts – Deputy Commerce Secretary
Ricketts is the co-owner of the Chicago Cubs baseball team and the son of Joe Ricketts, a businessman who has an estimated wealth of $1.75bn. The Ricketts family was listed by Forbes as the 66th wealthiest in America in 2015.
Elaine Chao – Transportation Secretary
Married to Senate Majority Leader Mitch McConnell, Chao is the daughter of a shipping magnate. The couple is worth between $9.2 million and $36.5 million, according to a 2014 Washington Post story.
Ben Carson, frontrunner for the housing portfolio, and Tom Price, who will head health and human services, are also reported to be multi-millionaires, the BBC reports.
In addition to the already-named wealthy appointees, Trump could continue this trend by appointing Harold Hamm, who has a net worth of $16.7 billion as secretary of energy.
Andrew Puzder, an executive for the company that runs Hardee’s and Carl’s Jr., has also been considered for a spot next to Trump. The Washington Post reports his name has been floating around for labor secretary.
Trump has also met with Goldman Sachs President and COO Gary Cohn. In 2014, he was paid a $22 million salary, according to reports.