President-elect Donald Trump, who rallied populist voters by vowing to “drain the swamp” of the Washington elite, is filling his Cabinet with people who share a familiar trait: They’re very rich.
On Wednesday, Trump announced Steve Mnuchin, a former Goldman Sachs executive who served as his campaign finance chairman, as his choice for treasury secretary and Wilbur Ross, a private equity investor, as his pick for secretary of commerce.
According to Forbes, Ross has
Todd Ricketts, whose family owns the Chicago Cubs and
Tom Price, Trump’s pick for health and human services secretary, is an orthopedic surgeon turned six-term Republican congressman from Georgia. Price’s net worth:
Elaine Chao, Trump’s choice for transportation secretary, was labor secretary under former President George W. Bush and is married to Senate Majority Leader Mitch McConnell. Chao’s net worth:
That’s chump change in comparison to Trump’s choice for education secretary, Betsy DeVos, former chair of the Michigan Republican Party and a major GOP donor whose family’s net worth is
Other candidates Trump is reportedly considering for cabinet posts are even richer.
Harold Hamm, an oil-and-gas magnate and rumored pick for secretary of energy, has
Goldman Sachs President Gary Cohn, who Trump is
Texas Rep. Michael T. McCaul, a candidate for secretary of homeland security, is
And Mitt Romney, said to be among the finalists for secretary of state, is
Andrew Mellon, the banker from the wealthy Mellon family who was appointed treasury secretary in the 1921, was one of the richest people in America during his decade in the White House.
And the Cabinets of recent presidents have had plenty of rich members.
Henry Paulson, a former Goldman Sachs chairman who served as treasury secretary under President George W. Bush, had
Between his stints as defense secretary for Presidents Gerald Ford and George W. Bush, Donald Rumsfeld amassed a financial portfolio worth an estimated $50 million. And Secretary of State Colin Powell reported at least $24.5 million in assets.
Perhaps not surprisingly, W.’s Cabinet was dubbed
President Obama’s, too, had its share of rich people.
Secretary of State John Kerry, whose wife, Teresa Heinz Kerry, is an heiress to the Heinz ketchup fortune, is said to be worth close to $200 million. His predecessor, Hillary Clinton, had
And Penny Pritzker, Obama’s secretary of commerce, has a net worth of $2.4 billion.