President Donald Trump’s cabinet is worth an estimated $14 billion, which is by far the most of any presidential cabinet in history. Looking more closely at the members of Trump’s team reveals a collection of business executives and even a famous doctor.
Don’t be afraid to take a guess on who could possibly appear on this list. Trust me, there are some names you will definitely recognize.
With how much some of these appointees are worth (#8 and #3 especially), it’s hard to believe there are no conflicts of interest at play. Why else would people worth so much take low-paying, stressful public service jobs?
8. Todd Ricketts ($5.3 Billion)
Despite growing up poor, the Ricketts family has amassed a lot of wealth. The family made their estimated $5.3 billion from the brokerage service Ameritrade, which was founded by Todd’s father. Ricketts is also co-owner of the Major League Baseball franchise the Chicago Cubs. He has been appointed President Trump’s deputy commerce secretary.
7. Betsy DeVos ($5.1 Billion)
DeVos, Trump’s education secretary, is from an extremely well-known conservative billionaire family. The family made their fortune through the multilevel marketing company Amway. The company recorded $9.5 billion in profits last year, which was a 12 percent decline from the previous year. However, the DeVos family continues to hold a massive fortune.
6. Wilbur Ross ($2.5 Billion)
Wilbur Ross is the chairman of WL Ross & Co., and is President Trump’s pick for commerce secretary. Ross was one of Trump’s top surrogates during the presidential campaign, appearing on a number of business news programs to discuss his positions. Ross is also the owner of the Sago Mine in West Virginia where a dozen miners lost their lives in a 2006 explosion.
5. Linda McMahon ($1.6 Billion)
Linda McMahon, the former CEO of World Wrestling Entertainment (WWE) was chosen by President Trump to run the Small Business Administration. Her husband is WWE promoter Vince McMahon. Linda is estimated by Forbes at $1.16 billion. During President Trump’s presidential campaign, she donated $7 million to pro-Trump super PACs.
4. Steve Mnuchin ($40 Million)
Steve Mnuchin was chosen by President Trump to be treasury secretary. Mnuchin is a former Goldman Sachs banker and film financier who backed movies like Mad Max: Fury Road and American Sniper. Mnuchin does have some critics from his role at OneWest Bank Group, where he served as co-founder, due to his aggressive foreclosure policies.
3. Ben Carson ($26 Million)
Ben Carson is a former neurosurgeon and was chosen by President Trump as housing secretary. Carson is worth an estimated $26 million, according to Forbes. Carson has made a lot of his wealth from his time as a writer and public speaker after he retired from his medical career as a surgeon.
2. Elaine Chao ($22.8 Million)
Elaine Chao is married to Senate majority leader Mitch McConnell from Kentucky. Chao is worth an estimated $22.8 million. A significant chunk of her fortune came from an inheritance after her mother passed. Her father founded Foremost Maritime, a major shipping company. Chao also sat on a number of corporate boards where she earned a significant income.
1. Andy Puzder ($25 Million)
Andy Puzder was chosen as President Trump as labor secretary and is best known from his time as the CEO of CKE Restaurants. After the company was purchased by private equity firm Apollo Global Management in 2010, Puzder made $25.1 million. Puzder has a number of critics due to his stance against raising of the minimum wage.
Were you shocked by some of these names? Who would have thought Todd Ricketts and Betsy DeVos were worth over $5 billion a piece? Did you think Linda McMahon, a former wrestling CEO, would be in the administration?
When taking away the political aspect and simply looking at the history of the administration, it’s difficult to not be intrigued.
Don’t be afraid to like or share this post or leave us a comment below telling us who your favorite (or least favorite) member of this list is. We would love to hear your comments and see a healthy debate below.