A billionaire presidential administration? Who Trump plans to nominate so far
President-elect Donald Trump, who ran a reelection campaign promising to put the working class first, has so far invited five likely billionaires to join his administration.
Trump himself is the country's richest president, with an estimated net worth of $5.6 billion, according to Forbes. Having named a majority of traditional cabinet department heads and tapped tech entrepreneurs Elon Musk and Vivek Ramasway, to lead a new proposed "Department of Government Efficiency," he is setting up the wealthiest presidential administration in U.S. history.
If the U.S. Senate confirms his picks, he will easily beat his own record. His first cabinet had one billionaire, Education Secretary Betsy DeVos, and a combined net worth of about $2 billion, according to Business Insider.
When Trump ran in 2016, he campaigned on the idea he would run the country like a business. Many of his picks this year, while controversial, line up with that approach and his rhetoric promising to "drain the swamp" in Washington.
Several potential members of his second administration face criticism for a lack of bureaucratic expertise relevant to the department they would oversee. They have instead thrived in the private sector and experienced entrepreneurial success.
Here is a look at the ultra-wealthy people Trump has tapped for his second administration so far:
Doug Burgum
Trump said he would nominate North Dakota Gov. Doug Burgum to lead the U.S. Department of the Interior, overseeing federal land including national parks and commitments involving native tribes.
The two-term Republican governor and businessman got rich in tech after selling software company Great Plains to Microsoft for more than $1.1 billion in 2001. He continued to sell Microsoft stock until he left the company in 2007 and has made several lucrative business deals since, according to Forbes, but his exact net worth today is unlisted.
In an April appearance on Fox News, Burgum said billionaires should support Trump if they care about their shareholders and family.
Howard Lutnick
Trump named his new commerce secretary, tapping his transition team co-chair and Cantor Fitzgerald CEO Howard Lutnick for the role.
Lutnick's net worth is estimated to exceed $1.5 billion, according to Bloomberg, and is due in large part to his majority ownership of Cantor Fitzgerald, a financial services firm.
Linda McMahon
Trump plans to nominate former Small Business Administration head and former wrestling executive Linda McMahon to lead the U.S. Department of Education.
She shares an estimated $2.5 billion net worth with her husband Vincent McMahon, according to Forbes. Together, they founded World Wrestling Entertainment, or WWE.
Elon Musk
Trump said he intends to tap tech CEO Elon Musk to co-lead the new "Department of Government Efficiency," or DOGE.
Forbes labels Musk the richest person in the world and estimates his net worth at $315.7 billion as of Nov. 21. Musk's constellation of multibillion-dollar businesses include SpaceX, Tesla, Neuralink, X, xAI, and The Boring Company.
Vivek Ramaswamy
Biotech entrepreneur Vivek Ramaswamy will join Musk to help lead DOGE, Trump announced in a statement the week after his victory.
Trump's proposed tax breaks: Trump wooed middle class Americans with tax breaks. What are they and are they realistic?
Forbes reported Ramaswamy was worth more than $1 billion in early November. Other estimates place his net worth between $800 million and $1 billion. Ramaswamy made his fortune through investments and a stake in Roivant Sciences, a pharmaceutical company he founded in 2014.
Reach Rachel Barber at rbarber@usatoday.com and follow her on X @rachelbarber_
This article originally appeared on USA TODAY: Trump sets up wealthiest presidential administration ever
