America’s Gold Plated Cabinet

Courtesy of: Visual Capitalist

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When President Trump was elected to the Oval Office with a net worth in the billions, it was clear that this presidency would be unique.

Not only did he himself come a successful business background, but he wanted the people surrounding him to have similar backgrounds as well.

In 2016, the newly elected Trump was quoted as saying he wanted to have people in his cabinet that “made a fortune”, also stating that he was putting together “one of the great cabinets that has ever been assembled in the history of our nation.”

Comparing First-Term Cabinets

Today’s chart, which also appears on the back cover of Politico Magazine (web version found here), shows the wealth of initial cabinets put together by the last three presidents: Trump, Obama, and Bush.

Here’s how they stack up, in terms of aggregate wealth:

Administration Start of Initial Term Cabinet Net Worth
Trump 2017 $2.33 billion
Obama 2009 $67 million
Bush 2001 $355 million

Trump’s cabinet is worth a cool $2.33 billion – about 35x the size of Barack Obama’s initial cabinet, and 7x the size of George W. Bush’s first.

Interestingly, the top four people (in terms of wealth) are all in Trump’s:

Richest cabinet members

Betsy DeVos ($1.1 billion) sits atop as the wealthiest person in all three initial cabinets – and Wilbur Ross ($506.5 million), Rex Tillerson ($294.5 million), and Steve Mnuchin ($252.0 million) round out the other top spots.

Meanwhile, Donald Rumsfeld ($151.9 million) was the richest person outside of Trump’s cabinet.

Obama’s Second Term

While the comparisons in the chart are all for initial cabinets, it is worth noting that Obama’s second cabinet was not so modest.

He elected to bring in Penny Pritzker as the U.S. Secretary of Commerce, who was worth $2.2 billion – almost the combined net worth of Trump’s cabinet today!

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6 Comments
zigzag
zigzag
March 10, 2018 3:11 pm

Worry not, citizens,… our billionaire government leaders are in it for the little guy !!

( dripping with sarcasm ).

Anonymous
Anonymous
March 10, 2018 3:28 pm

A big oil/oil oligarch operative, a complete criminal cockroach corporate/pension fund raider/ bankster and all around gangster, a GS bankster stooge, a Dutch mafia billionaire that owns their own black-ops army, and a screen/reality actor with much more talent to fool people than I ever gave him credit.

Not just gold, triple gold with a gold plated platinum cherry on top.

22winmag - refugee from ZeroHedge who just couldn't take the explosion of doom porn and the avalanche of near-hourly Bitcoin stories
22winmag - refugee from ZeroHedge who just couldn't take the explosion of doom porn and the avalanche of near-hourly Bitcoin stories
March 10, 2018 6:59 pm

Even with the current crop of billionaires in the Cabinet, you still get John McCain-foreign policy.

David
David
March 10, 2018 9:24 pm

People who are already rich, as opposed to people who go into government to get rich from that.

Roberto de Medici
Roberto de Medici
March 11, 2018 3:58 am

i know they can feel my pain because they told me they could
B S

jamesthedeplorablewanderer
jamesthedeplorablewanderer
March 11, 2018 3:26 pm

“you’d better put some ice on that” – W. J. Clinton to Juanita Broaddrick