Trump’s Commerce Nominee Howard Lutnick Reveals $800M in Assets and 800+ Business Ties
2025-01-24
2025-01-24

Howard Lutnick, the Wall Street executive tapped by President Trump to lead the Department of Commerce, has revealed a jaw-dropping web of financial interests. In disclosures filed ahead of his confirmation hearing next week, Lutnick reported holding at least $800 million in assets and executive roles in more than 800 companies.

Lutnick, who made his fortune in brokerage, real estate, and financial services, also disclosed earning over $300 million in income, bonuses, and distributions in the last two years alone. His portfolio includes a lavish Washington, D.C., mansion once owned by Fox News anchor Bret Baier.

While Lutnick has pledged to divest stakes in his brokerage and real estate firms, his extensive business ties could spark concerns about potential conflicts of interest. As Commerce Secretary, he would oversee policies affecting businesses and markets, raising questions about whether his decisions could benefit former partners or clients.

The Commerce Department plays a key role in shaping U.S. trade policies, managing a budget of $11 billion and a workforce of 51,000. Lutnick would be tasked with implementing Trump’s trade agenda, which includes imposing tariffs and boosting domestic industries like broadband and semiconductor manufacturing.

Lutnick’s career spans decades on Wall Street. He gained national attention after the 9/11 attacks, when he led Cantor Fitzgerald, a firm that lost hundreds of employees in the World Trade Center. Today, he serves as CEO and chairman of Cantor Fitzgerald, BGC brokerage, and Newmark Group, a commercial real estate giant.

In his disclosures, Lutnick committed to resigning from these roles and avoiding government matters that could impact his family or close business associates. The Senate will hold his confirmation hearing on Wednesday, where lawmakers are expected to scrutinize his vast financial network.


Trump’s Commerce Nominee Howard Lutnick Reveals $800M in Assets and 800+ Business Ties
https://www.99newz.com/posts/howard-lutnick-commerce-nominee-business-ties-2443
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99newz.com
Published at
2025-01-24
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CC BY-NC-SA 4.0