A Trump oligarchy is moving to DC, snatching expansive real estate

Washington sees an influx of billionaires in prominent roles within the Trump administration, signaling a deeper connection between money and political power.

Trump administration’s billionaire lineup

The Trump administration’s cabinet and advisory roles include at least a dozen billionaires. Elon Musk, the world’s richest man with a net worth of $429 billion, is among them. Former President Donald Trump himself, worth an estimated $6.8 billion, joins this extraordinary concentration of wealth.

Impact on real estate and policy

Washington’s luxury real estate market is booming due to the arrival of wealthy newcomers. Properties in neighborhoods like Georgetown and Kalorama are setting records, driven by demand from these new elites. Beyond housing, the influence of billionaires extends to policy decisions in areas such as energy, antitrust, and banking oversight.

Prominent figures and their influence

Elon Musk is expected to co-lead a new government efficiency initiative from an office near the White House. Other billionaires, such as Vivek Ramaswamy and Howard Lutnick, are also taking on influential roles. Their presence highlights a shift in how wealth intersects with government decision-making.

Changes in Washington’s elite culture

Traditionally, Washington’s elite culture was defined by political influence rather than wealth. However, the arrival of tech and finance billionaires has reshaped this dynamic. Real estate agents and analysts note a departure from old-line elites to a new meritocracy shaped by substantial financial resources.

The global reach of American billionaires

Some of the administration’s billionaires are taking on diplomatic roles abroad. Charles Kushner, Warren Stephens, and Tilman Fertitta are set to serve as ambassadors to France, Britain, and Italy, respectively. These appointments underline the international scope of their influence.