All together, the billionaires tapped for the Trump administration are worth at least $383 billion – higher than the GDP of 172 countries.
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| Illustration by USN&WR | Source: Getty Images President-elect Donald Trump has chosen billionaires to help shape his administration. |
Is 1600 Pennsylvania Avenue becoming the new Billionaires’ Row?
President-elect Donald Trump, who frequently campaigned on promises to “rescue our middle class” and champion the average American, is now turning to billionaires to help shape his administration. This move has sparked both curiosity and criticism, as the wealthiest of the wealthy prepare to take on key roles in the White House.
The Billionaire Lineup
Trump’s picks for his administration read like a who’s who of the ultra-rich. Among them are:
Elon Musk (Tesla CEO) – Net worth: $200 billion
Vivek Ramaswamy (Entrepreneur) – Net worth: $1 billion
Linda McMahon (Former WWE CEO) – Net worth: $1.6 billion
Howard Lutnick (Wall Street executive) – Net worth: $2.1 billion
Doug Burgum (North Dakota Governor) – Net worth: $1.1 billion
Scott Bessent (Money manager) – Net worth: Undisclosed (but confirmed billionaire)
Jared Isaacman (Entrepreneur) – Net worth: $2.4 billion
Steven Witkoff (Real estate tycoon) – Net worth: $1.2 billion
Warren Stephens (Investment banker) – Net worth: $3.7 billion
While Musk and Ramaswamy are set to serve on an advisory body called the Department of Government Efficiency, the rest will need Senate confirmation to officially join Trump’s Cabinet or senior positions.
A Cabinet of Billionaires
The combined net worth of Trump’s billionaire picks, as of December 10, stands at a staggering 11.8 billion, assuming all are confirmed.
To put this into perspective:
President Joe Biden’s Cabinet had a combined net worth of about $118 million.
Trump’s first Cabinet totaled around $6.2 billion.
Former President Barack Obama’s second-term Cabinet was worth approximately $2.8 billion.
The Bigger Picture
Trump’s reliance on billionaires to fill key roles raises questions about the influence of wealth in government and whether this aligns with his campaign promises to prioritize the middle class. While some argue that these individuals bring unparalleled expertise and success to the table, others worry about the potential for conflicts of interest and a disconnect from the everyday struggles of average Americans.
As the Senate prepares to confirm these nominees, one thing is clear: the Trump administration is shaping up to be one of the wealthiest in U.S. history. Whether this translates into effective governance or further widens the gap between the rich and the rest remains to be seen.
Here’s a closer look at the billionaires shaping Trump’s administration, their estimated net worth, and their plans for their roles—because when it comes to this White House, it seems money talks louder than ever.
