The names chosen or nominated by Donald Trump, who was elected the 47th president of the USA, to his new term working team attract attention with their wealth as well as their policies.
Trump, who will officially begin his duty at the White House on January 20, includes the country’s billionaires and multimillionaires among the names he has selected for important positions in his new government.
It is a matter of debate that in the Trump administration, policies that will affect the lives of middle-class Americans will be taken by the rich.
Some circles criticize Trump’s appointments as a clear incentive to pursue economic policies that will make the rich even richer.
TOTAL WEALTH OF TRUMP’S TEAM IS CLOSE TO 400 BILLION DOLLARS
According to the information compiled by the AA reporter from Americans for Tax Fairness, Forbes and Bloomberg Billionaires Index data, it is noteworthy that the total wealth of himself and Vice President JD Vance, as well as the names Trump has chosen or nominated for his new administration, is close to 400 billion dollars.
If the names nominated by Trump receive Senate approval, the total wealth of the members of the cabinet to be formed is expected to exceed 9 billion dollars.
Considering that the total wealth of the members of the cabinet he formed in his first term is 6 billion dollars, Trump is expected to create one of the wealthiest administrations in US history with his new team.
In contrast, the total net worth of US President Joe Biden’s cabinet is estimated to be 118 million dollars.
THE RICHEST PERSON IN THE WORLD IS IN TRUMP’S TEAM
It seems that the richest member of billionaire Trump’s team is Elon Musk, who is also the richest person in the world.
Even excluding Musk, who will lead the newly created Department of Government Efficiency, the average wealth of Trump’s team exceeds $600 million.
It is noted that this figure is hundreds of times higher than the average wealth of a typical American family, which is slightly more than $1 million.
Names such as Elon Musk, Stephen Feinberg, Warren Stephens, Charles Kushner, Linda McMahon, Howard Lutnick, Jared Isaaccman and Vivek Ramaswamy are among the prominent names in Trump’s “rich” team with their billion-dollar fortunes.
ELON MUSK
Elon Musk, who was elected co-director of the Department of Government Efficiency, is the most wealthy person in Trump’s team with a fortune of over $ 360 billion.
It is noteworthy that Musk’s wealth increased with the rapid appreciation of Tesla shares after the election.
On the other hand, it is stated that Musk did not pay federal income tax in 2018 and paid only 10 percent of his wealth increase in 2021. However, it is stated that the average American family pays approximately 15 percent tax on their income in 2021.
Musk’s savings plan, which has promised to cut $2 trillion from federal public services such as social security, Medicare, Medicaid, other health services, education, national defense, food aid and housing, is causing reactions as there is no action to make the “ultra-rich” pay more taxes. .
On the other hand, Musk stands out among the people who will benefit most from the tax cuts that Trump plans to implement.
STEPHEN FEINBERG
Stephen Feinberg, who Trump thinks of as “Pentagon’s number two”, draws attention with his fortune of $5 billion.
It is considered that Feinberg’s appointment to this position may lead to conflicts of interest, as Cerberus Capital Management, of which he is the top manager, invests in military aircraft training and maintenance and has a majority stake in a military vehicle manufacturer.
WARREN STEPHENS
Trump describes Warren Stephens, the chief executive of the financial services company Stephens, whom Trump nominated for the London Ambassadorship, as “one of the best business people” in the country.
Stephens, who was selected for a prestigious diplomatic role, is among the business people who donated large amounts to Trump’s election campaign in this year’s presidential election.
Warren Stephens’ net worth is estimated at $3.4 billion.
CHARLES KUSHNER
It is stated that Charles Kushner, a businessman of Jewish origin who was nominated by Trump to be the US Ambassador to Paris, has a fortune of $2.9 billion.
Charles Kushner, father of Jared Kushner, who is married to Ivanka Trump, owns a real estate company called Kushner Companies.
LINDA MCMAHON
Trump’s candidate for Minister of Education, former World Entertainment Wrestling (WWE) CEO Linda McMahon, is estimated to have a total wealth of $2.6 billion along with her husband.
McMahon, who previously served as administrator of the Small Business Administration in the Trump administration between 2017 and 2019, has been criticized for the working conditions of WWE wrestlers.
-Howard Lutnick
Howard Lutnick, Chief Executive Officer (CEO) of financial services company Cantor Fitzgerald, who was nominated for the Ministry of Commerce, also stands out with his wealth in Trump’s possible cabinet.
Lutnick, who has assets of approximately $2 billion, is known as one of the big supporters of Trump’s plan to increase customs duties on foreign goods.
Lutnick, who has been accused of using his position as co-chairman of Trump’s transition committee to promote his own private business interests, denies the allegations.
JARED ISAACMAN
Entrepreneur Jared Isaacman, who was nominated for the position of Director of the US Aeronautics and Space Administration (NASA), has a fortune of $1.7 billion.
Isaacman owns a payment processing company called Shift4 Payments, which he founded in 1999 when he was just 16 years old.
Businessman Isaacman, who has gone into space twice before, is known for his closeness to Elon Musk.
VIVEK RAMASWAMY
Vivek Ramaswamy, who was elected as the other co-director of the Department of Government Efficiency, stands out as a “billionaire” member of Trump’s team.
Ramaswamy, who is also one of the Republican candidates in the 2024 Presidential Elections, is remembered for his proposal to replace the current tax system with a 12 percent flat tax and not allow any deductions in the election race.
In addition to billionaires, Trump’s management team includes other members with hundreds of times the wealth of the average American family.
