Trump dwarfs his predecessors in the number of ultra-rich in his second White House, report shows
Summary
President Donald Trump has appointed more people worth at least $100 million to his administration than the last three presidents combined, with 57 such officials serving in his current term. This group includes ambassadors, cabinet members, and senior officials, many of whom are billionaires.Key Facts
- 57 members of President Trump’s administration are worth at least $100 million.
- This number is more than four times the combined total under the three previous presidents.
- Among them, 17 are ambassadors and 40 hold senior executive branch positions.
- Eight cabinet members, including Treasury Secretary Howard Lutnick and Education Secretary Linda McMahon, are billionaires.
- Other wealthy officials include Deputy Secretary of Defense Stephen Feinberg and Small Business Administration Administrator Kelly Loeffler.
- President Trump himself is a billionaire and prefers appointing billionaires as a sign of respect for financial success.
- Previous presidents have also appointed wealthy individuals, but not in numbers as large as Trump’s.
- Trump’s wealthy appointments contrast with his support from working and middle-income Americans.
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