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Friday, December 2, 2016

Donald Trump has selected fellow billionaires - and a handful of millionaires too - for his administration's cabinet, making it the richest in modern history.

Bring on the billionaires! Donald Trump's cabinet is the richest in modern history - with a combined wealth of $10 BILLION (excluding the man himself)

  • Donald Trump's cabinet is being filled with like-minded billionaires and millionaires So far, the Trump cabinet is shaping up to be the most well monied in modern history , Additionally, he's chosen the daughter of a shipping magnate and a co-owner of the Chicago Cubs  

Donald Trump is assembling a team of like-minded billionaires and millionaires to be a part of his administration's cabinet. The members of his team are so wealthy that the Washington Post is already calling Trump's cabinet the richest in modern history.  Trump, who himself is worth an estimated $3.7billion according to Forbes - although he has said he is worth far more - has picked the daughter of a shipping magnate, the co-owner of the Chicago Cubs and some of the richest people in the US.

Donald Trump's choice for commerce secretary, Wilbur Ross, was ranked No. 232 on the Forbes 400 of richest people in the world

The Republican president-elect is following in the tradition of President Warren G. Harding, who appointed one of the country's wealthiest Americans, Andrew Mellon, to be his treasury secretary. Mellon would serve under three presidents overall. 
Many of Trump's picks come from family money, though some have gotten rich on Wall Street as well. 
Wilbur Ross: Trump's pick for the commerce department is ranked No. 232 on the Forbes 400 of richest people in the world. 
He's worth $2.5 billion. 
He spent 25 years heading Rothschild Inc's bankruptcy practice before striking it out on his own in 2000, creating the investment firm WL Ross & Co, according to Forbes. 
He holds degrees from Yale and Harvard.  

Donad Trump's treasury secretary pick Steven Mnuchin made his millions working for Goldman Sachs. He founded a hedge fund and has financed Hollywood films

Steven Mnuchin: Trump's treasury department pick has worked on both Wall Street and in Hollywood. The Yale-educated Mnuchin is a former Goldman Sachs executive, earning millions at the Wall Street bank over two decades. 
Todd Ricketts, chosen by Donald Trump to be deputy secretary of commerce is a co-owner of the Chicago Cubs 
Todd Ricketts, chosen by Donald Trump to be deputy secretary of commerce is a co-owner of the Chicago Cubs 
After that he worked for Democratic super donor George Soros at Soros Fund Management, before founding the hedge fund Dune Capital Management LP. 
He's also financed films with the merged company RatPac-Dune Entertainment. 
Recent hits produced by the venture include 'Gravity,' 'The Lego Movie' and 'Magic Mike XXL,' according to a profile on Mnuchin by Forbes. His net worth is estimated to be around $40million, most of which was earned during his tenure at Goldman. 
Todd Ricketts: Working under Ross at the commerce department, Ricketts is the co-owner of the Chicago Cubs, which won the World Series this fall. Ricketts' father founded TD Ameritrade and has a net worth of 1.73 billion. 
The senior Ricketts was a top donor to the Trump campaign.  
The junior Ricketts has worked for his family's financial firms. More recently, he was in charge of the family's political spending, according to the Wall Street Journal


Elaine Chao, is the daughter of a shipping magnate who received a large inheritance from her mother. Betsy DeVos (Below) and her husband Dick are worth $5.1 billion.

Betsy DeVos: Trump's pick for secretary of education is also among the well monied. She and her husband Dick are from a family worth $5.1 billion. 
Dick's father, Richard, is a co-founder of Amway and was ranked by Forbes as the 88th richest man in the world. 

Elaine Chao: The incoming secretary of transportation is the daughter of a shipping magnate who received millions of inheritance dollars upon the death of her mother in 2007. 
Thanks to her husband Mitch McConnell's Senate financial disclosure forms, the public can see that the couple is worth between $9.2 million and $36.5 million, according to a 2014 Washington Post story
McConnell, the Senate majority leader, was ranked the 10th richest senator in the body.  


Goldman Sachs President and COO Gary Cohn was also spotted at Trump Tower interviewing for a job. He reportedly brought in a salary of $22 million in 2014 

In addition to the already-named appointees, Trump could continue this trend by appointing Harold Hamm, No. 30 on the Forbes 400 list of wealthy Americans, with his net worth of 16.7 billion. 
Hamm's name has been floated for secretary of energy. 

Additionally, Andrew Puzder, an executive for the company that runs Hardee's and Carl's Jr., is being considered for labor secretary, reported the Washington Post.  And Trump has met with Goldman Sachs President and COO Gary Cohn, a registered Democrat, but a wealthy one.  In 2014, he was paid a $22 million salary, according to Vanity Fair. 

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