Inside the Financial Profiles of Trump's Cabinet Members Worth Almost $12 Billion - Cryptochud haven

The new administration assembled by President Donald Trump boasts a combined net worth of at least $11.8 billion. The collective wealth of the potential 2024 cabinet is unprecedented for The Cabinet of the United States. Senate confirmation hearings are currently underway in Washington, D.C. — and the potential conflicts of interest for these cabinet members are a fraught topic. We dived into the financial reports and investing strategies of this new administration to understand their financial backgrounds and what this could mean for potential conflicts of interest and insider trading while in office.

Findings

Crypto Enthusiasts

One finding is that President Trump's nominees are crypto enthusiasts. Data on the stock portfolios of Trump's cabinet nominees tells us that almost half of them have significant crypto holdings. Among the greatest is Sean Duffy, Trump's nominee for Secretary of the Department of Transportation, who holds up to $1.1 million in Bitcoin.

Media Wealth

The second, and less startling finding is that the wealth of the nominees is disproportionately from roles in media. Nominated Secretary of the Department of Defense Pete Hegseth made over $4 million in the past two years as a FOX News Host, based on a recent Office of Government Ethics filing. Nominee Tulsi Gabbard earned over $1 million this year from book advances and speeches — most of which for the Republican Party.

Notable Members and Controversies

Robert F. Kennedy Jr — Health and Human Services Secretary (confirmed)

• Nominated in November for the position of health secretary

• Cleared the Senate by a razor‐thin 14–13 vote

• Net worth is about $15 million

• Controversial views scrutinizing the efficacy of vaccines

• Received backlash for ties to Wisner Baum, an LA-based personal injury law firm

• Holds a Bitcoin position worth over $5 million

• Opposition from the scientific and medical communities persists

Pete Hegseth — Secretary of Defense

• High-profile figure and Fox News co-host of "Fox and Friends"

• Received over $4.6 million from Fox News as an annual salary across the past two years

• Holds between $5,000 and $15,000 in Bitcoin income

• Controversies for financial mismanagement and accusations of sexual misconduct

Tulsi Gabbard — National Intelligence (nominated)

• Earnings in the past year have exceeded $1.2 million

• Passed the Senate committee vote last week, approving her nomination

• Main source of income: speaking fees and book royalties related to the Republican party

• Nearly $300,000 from an advance on her 2024 book "For Love of Country: Leave the Democratic Party Behind"

Pam Bondi — Attorney General (confirmed)

• Net worth of $18 million

• Worked with the Trump administration for several years

• Made more than $3 million from the recent merger of Trump's Truth Social platform

• Disclosed owning between $2 million and $10 million in shares of Trump Media & Technology Group stock

Scott Bessent — Secretary of the Treasury (confirmed)

• Net worth of at least $500 million

• Wealth originates from years in hedge fund management

• Holds over $50 million in ETFs and investments in major currencies

• Holds between $250,000 and $500,000 in Bitcoin

Linda McMahon — Secretary of Education (nominated)

• Estimated worth upwards of $3 billion

• Earnings from co-founding World Wrestling Entertainment (WWE)

• Holds significant investments in TKO Group Holdings and bonds supporting universities

Doug Burgum — Interior Secretary (confirmed)

• Earned over $2 million last year from businesses and investments

• Significant investments in technology stocks including Netflix, Alphabet, Apple, and Adobe

Sean Duffy — Secretary of Transportation (confirmed)

• Recently pledged to divest from investments in technology stocks

• Numerous investments in cryptocurrency, including up to $500,000 in Bitcoin

Howard Lutnick — Commerce Secretary (nominated)

• Net worth of $2 billion

• CEO of Cantor Fitzgerald and BGC Group

• Holds over 800 separate positions across various companies

• Vocal supporter of cryptocurrency, particularly Tether

Where to Look Next

Public disclosure of funds allows us to examine the financial profiles for the new cabinet of the United States. Looking at the potential cabinet members holistically, it is apparent that they are united by holding large amounts of wealth. Some of this wealth, of course, will have to be divested if taking office. The Office of Government Ethics requires officials to divest from funds which may pose a conflict of interest — a move which many of Trump's nominees will see as costly.

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