{"id":1049962,"date":"2024-12-03T13:16:19","date_gmt":"2024-12-03T18:16:19","guid":{"rendered":"https:\/\/democrats.org\/?p=1049962"},"modified":"2024-12-03T13:16:20","modified_gmt":"2024-12-03T18:16:20","slug":"donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/","title":{"rendered":"Donald Trump Is Stacking His Cabinet With Out-of-Touch Billionaires"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Donald Trump\u2019s special interest billionaire Cabinet is the wealthiest in history, and they\u2019re ready to do whatever Trump wants to give themselves another tax handout at the expense of the American people. Working families deserve leaders who are looking out for them, but Trump and his Cabinet picks are more focused on Wall Street \u2013 not Main Street. <\/p>\n\n\n\n

Here\u2019s a look at the latest coverage of the out-of-touch billionaires Trump is stacking his administration with:<\/em><\/p>\n\n\n\n

Newsweek<\/a>: \u201cPresident-elect Donald Trump has nominated eight billionaires to his Cabinet, setting up one of the wealthiest presidential administrations in history.<\/strong> …<\/p>\n\n\n\n

\u201cMusk is estimated by Forbes as the wealthiest person in the world, with a net worth of more than $336 billion.<\/strong> Ramaswamy, who emerged as a conservative favorite following his campaign in the 2024 Republican presidential primary, is estimated to be worth at least $1.1 billion, according to Forbes.<\/strong> …<\/p>\n\n\n\n

\u201cOn Monday, Trump announced that he is appointing Warren Stephens, CEO of financial services firm Stephens Inc., as his ambassador to the United Kingdom. <\/strong>Forbes estimates that he is worth $3.4 billion.<\/strong> …<\/p>\n\n\n\n

\u201cTrump over the weekend announced that he plans to appoint Charles Kushner, father of Trump’s son-in-law Jared Kushner, to be his ambassador to France. Forbes estimates the Kushner family is worth more than $7 billion. <\/strong>Kushner is founder of real-estate company Kushner Companies. …<\/p>\n\n\n\n

\u201cLinda McMahon, Trump’s pick to lead the Department of Education, is a business executive and wife of billionaire Vince McMahon, who is worth an estimated $3 billion, according to Forbes. <\/strong>…<\/p>\n\n\n\n

\u201cTrump is appointing Howard Lutnick, CEO of financial services firm Cantor Fitzgerald, as his pick for commerce secretary. He joined the firm in 1983 and became its chief executive officer in 1991. …<\/p>\n\n\n\n

\u201cSteve Witkoff, real estate investor who is serving as co-chair for Trump’s inaugural committee, is set to serve as Trump’s envoy to the Middle East, a key position at a time when tensions in the region continue to escalate. …<\/p>\n\n\n\n

\u201cForbes estimates he is worth at least $1 billion. He owns 51 properties, including the Woolworth Building in Manhattan.<\/strong><\/p>\n\n\n\n

\u201cOutlets like Yahoo News and CBS News have reported that Scott Bessent, Trump’s pick to lead the Department of the Treasury, is likely a billionaire, though Forbes has not officially named him as such.\u201d<\/p>\n\n\n\n

New York Magazine<\/a>: \u201cThe first time Donald Trump was elected president, he assembled the wealthiest cabinet the country had ever seen, with a combined net worth of a little more than $6 billion. This time around, if all of Trump\u2019s cabinet nominees are confirmed,<\/strong> their combined wealth will easily surpass $9 billion, and could in fact be much higher.<\/strong> Add in Elon Musk and other members of the Trump 2.0 entourage who don\u2019t require Senate confirmation, and the combined net worth jumps past $340 billion. <\/strong>\u2026<\/p>\n\n\n\n

\u201cBoulos, the father-in-law of Trump\u2019s daughter Tiffany, is a Lebanese-American businessman who is the CEO of both Boulos Enterprises and the automobile conglomerate SCOA Nigeria<\/strong>, and has been involved in Christian political groups in Lebanon. He has been widely described in news reports as a billionaire, but his estimated net worth is not clear, and he is not included on Forbes\u2019 billionaire list. \u2026<\/p>\n\n\n\n

\u201cMehmet Oz has made a fortune as a TV doctor and shady health product pitchman.<\/strong> In 2022, according to the federal financial disclosure forms he filed during his Senate campaign in Pennsylvania, his net worth was somewhere between $100 million to $315 million.\u201d<\/strong><\/p>\n\n\n\n

U.S. News & World Report<\/a>: \u201cIs 1600 Pennsylvania Ave. the new Billionaires\u2019 Row?<\/strong><\/p>\n\n\n\n

\u201cThe total net worth of the billionaires in the Trump administration, as of the morning of Nov. 25, equals at least $344.4 billion \u2013 which is more than the GDP of 169 different countries. <\/strong>Since Musk and Ramaswamy won\u2019t be part of Trump\u2019s Cabinet, excluding them brings the net worth of Trump\u2019s Cabinet to at least $10.7 billion, <\/strong>assuming all nominees are approved in the Senate.<\/p>\n\n\n\n

\u201cThe figures are most likely significantly higher, <\/strong>but finding the net worth of Bessent, a known billionaire, is tricky, and therefore he\u2019s been left out of the above calculations.\u201d<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Donald Trump\u2019s special interest billionaire Cabinet is the wealthiest in history, and they\u2019re ready to do whatever Trump wants to give themselves another tax handout at the expense of the American people. Working families deserve leaders who are looking out for them, but Trump and his Cabinet picks are more focused on Wall Street \u2013 […]<\/p>\n","protected":false},"author":297,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1049962","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nDonald Trump Is Stacking His Cabinet With Out-of-Touch Billionaires - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-03T18:16:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-03T18:16:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\" \/>\n<meta name=\"author\" content=\"Kate Sosland\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kate Sosland\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/\",\"url\":\"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/\",\"name\":\"Donald Trump Is Stacking His Cabinet With Out-of-Touch Billionaires - Democrats\",\"isPartOf\":{\"@id\":\"https:\/\/democrats.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\",\"datePublished\":\"2024-12-03T18:16:19+00:00\",\"dateModified\":\"2024-12-03T18:16:20+00:00\",\"author\":{\"@id\":\"https:\/\/democrats.org\/#\/schema\/person\/1562a4c3e6e858be7d332dfa581c32d4\"},\"breadcrumb\":{\"@id\":\"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/#primaryimage\",\"url\":\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png\",\"contentUrl\":\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png\",\"width\":1500,\"height\":500},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/democrats.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Donald Trump Is Stacking His Cabinet With Out-of-Touch Billionaires\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/democrats.org\/#website\",\"url\":\"https:\/\/democrats.org\/\",\"name\":\"Democrats\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/democrats.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/democrats.org\/#\/schema\/person\/1562a4c3e6e858be7d332dfa581c32d4\",\"name\":\"Kate Sosland\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/democrats.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/514d23f251c482fc5a26e31eeaf1d5bad0bc20db87cfdf1e8975f83711e5f9f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/514d23f251c482fc5a26e31eeaf1d5bad0bc20db87cfdf1e8975f83711e5f9f8?s=96&d=mm&r=g\",\"caption\":\"Kate Sosland\"},\"url\":\"https:\/\/democrats.org\/news\/author\/soslandk\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Donald Trump Is Stacking His Cabinet With Out-of-Touch Billionaires - Democrats","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/","og_locale":"en_US","og_type":"article","og_site_name":"Democrats","article_published_time":"2024-12-03T18:16:19+00:00","article_modified_time":"2024-12-03T18:16:20+00:00","og_image":[{"url":"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024","type":"","width":"","height":""}],"author":"Kate Sosland","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Kate Sosland","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/","url":"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/","name":"Donald Trump Is Stacking His Cabinet With Out-of-Touch Billionaires - Democrats","isPartOf":{"@id":"https:\/\/democrats.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/#primaryimage"},"image":{"@id":"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/#primaryimage"},"thumbnailUrl":"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024","datePublished":"2024-12-03T18:16:19+00:00","dateModified":"2024-12-03T18:16:20+00:00","author":{"@id":"https:\/\/democrats.org\/#\/schema\/person\/1562a4c3e6e858be7d332dfa581c32d4"},"breadcrumb":{"@id":"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/#primaryimage","url":"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png","contentUrl":"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png","width":1500,"height":500},{"@type":"BreadcrumbList","@id":"https:\/\/democrats.org\/news\/donald-trump-is-stacking-his-cabinet-with-out-of-touch-billionaires\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/democrats.org\/"},{"@type":"ListItem","position":2,"name":"Donald Trump Is Stacking His Cabinet With Out-of-Touch Billionaires"}]},{"@type":"WebSite","@id":"https:\/\/democrats.org\/#website","url":"https:\/\/democrats.org\/","name":"Democrats","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/democrats.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/democrats.org\/#\/schema\/person\/1562a4c3e6e858be7d332dfa581c32d4","name":"Kate Sosland","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/democrats.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/514d23f251c482fc5a26e31eeaf1d5bad0bc20db87cfdf1e8975f83711e5f9f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/514d23f251c482fc5a26e31eeaf1d5bad0bc20db87cfdf1e8975f83711e5f9f8?s=96&d=mm&r=g","caption":"Kate Sosland"},"url":"https:\/\/democrats.org\/news\/author\/soslandk\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/posts\/1049962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/users\/297"}],"replies":[{"embeddable":true,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/comments?post=1049962"}],"version-history":[{"count":1,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/posts\/1049962\/revisions"}],"predecessor-version":[{"id":1049965,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/posts\/1049962\/revisions\/1049965"}],"wp:attachment":[{"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/media?parent=1049962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/categories?post=1049962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/tags?post=1049962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}