President-elect Donald Trump’s picks for his administration could make his Cabinet one of the wealthiest in US history — and that may have been by his own design.
On the third leg of his “Thank You” tour Thursday in Des Moines, Iowa, Trump defended his selection of millionaires and billionaires to join his administration, likening his picks to rich athletes.
Trump has nominated billionaire investor Wilbur Ross as his commerce secretary; Betsy DeVos, a billionaire activist, as his education secretary; and Wall Street banker Steve Mnuchin as his Treasury secretary.
Both Mnuchin and Ross have backgrounds in the financial industry and have worked for Goldman Sachs.
Trump’s picks are particularly interesting as he vowed during his campaign to “drain the swamp” of Washington insiders and lobbyists who he said profited at the expense of hardworking Americans.
Here is a selection of Trump’s incoming cabinet and the extreme wealth they command.
Secretary of Commerce
Net Worth: $2.9 billion
Wilbur Louis Ross, Jr. is an American investor, and former banker, known for restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles. He specializes in leveraged buyouts and distressed businesses. As of August 2014, Forbes magazine lists Ross as one of the world’s billionaires with a net worth of $2.9 billion.