Donald Trump promised to save the middle class. But his administration tells a different story. It’s packed with billionaires. Together, their wealth hits a staggering $383 billion—more than the GDP of 172 countries! Is the White House turning into Billionaires’ Row?
Billionaires at 1600 Pennsylvania Ave.
Trump, the real estate mogul turned president-elect, handpicked the rich and powerful to shape his administration. His lineup includes Elon Musk, Vivek Ramaswamy, Linda McMahon, Howard Lutnick, Doug Burgum, Scott Bessent, Jared Isaacman, Steven Witkoff, and Warren Stephens.
Musk and Ramaswamy won’t hold official Cabinet roles but will lead a special advisory body. The rest await Senate approval. If confirmed, Trump’s Cabinet will boast a combined net worth of $11.8 billion—dwarfing the $118 million of Biden’s team and the $6.2 billion of Trump’s first Cabinet.
For perspective, Obama’s second-term Cabinet was worth just $2.8 billion. Trump’s billionaire-filled administration is rewriting the rules.
The billionaire roster
Here’s a closer look at the ultra-wealthy players in Trump’s administration:
Donald Trump: $6.2 Billion
Trump built his fortune in real estate. His empire spans luxury hotels, office buildings, and golf courses worldwide. Add in his stake in Trump Media & Technology Group, and the former president’s net worth reaches $6.2 billion.
Elon Musk: $363.3 Billion
The Tesla and SpaceX CEO is Trump’s pick for the Department of Government Efficiency. Musk promises to slash $2 trillion from the U.S. budget. He aims to “send shockwaves through the system” by cutting government waste.
Warren Stephens: $3.4 Billion
Stephens, an investment banker, will serve as Trump’s ambassador to Britain. Trump called him a “respected leader” and a perfect fit to strengthen ties with America’s closest ally.
Linda McMahon: $3 Billion
The WWE co-founder will head the Department of Education. McMahon, who once donated $6 million to Trump’s campaign, supports Trump’s call to dissolve the federal education department and give states full control.
Jared Isaacman: $1.7 Billion
Isaacman, a credit card mogul and space enthusiast, will lead NASA. Known for his private spacewalks with SpaceX, Isaacman promises to push NASA into a bold new era of exploration.
Howard Lutnick: $1.5 Billion
The Cantor Fitzgerald CEO is Trump’s choice for Commerce Secretary. Lutnick backs tariffs on imports to boost American-made products. He calls balanced tariffs “the way forward” for U.S. industries.
Vivek Ramaswamy: $1 Billion
Ramaswamy will join Musk in cutting government costs. The two plan to “shrink the federal government down to size” and eliminate unnecessary spending.
Steven Witkoff: $1 Billion
Witkoff, a real estate tycoon and close Trump ally, will serve as a special envoy to the Middle East. Trump praised him as a “voice for peace” and a leader who strengthens communities.
Doug Burgum: $1.1 Billion
North Dakota’s governor will lead the Department of the Interior. Trump picked him to oversee federal lands and expand oil drilling. Burgum’s state is a top oil producer, aligning with Trump’s energy goals.
Scott Bessent: Wealth Unknown
Bessent, a hedge fund manager, is Trump’s pick for Treasury Secretary. He supports Trump’s tariff policies and promises to protect America’s industries. Though his exact wealth is unclear, Bessent is reportedly a billionaire.
Billionaire boom
Trump’s administration is packed with power and wealth. Critics argue it contradicts his promise to champion the middle class. Supporters say these billionaires bring expertise to fix the country’s biggest problems.
What’s clear is this: Trump’s White House is breaking records for wealth. Whether this strategy helps or hurts America remains to be seen.
