•Donald Trump and Elon Musk
Former President Donald Trump has once again drawn from the ranks of America’s billionaires for key positions in his next administration.
From tech moguls to financial titans, these billionaires are poised to shape major policies and initiatives under Trump’s leadership, reports AFP.
Here’s the full list:
Trump and billionaires in his cabinet
1. Elon Musk – Department of Government Efficiency
Valuation: $337.3 billion
The Tesla and SpaceX founder has cemented himself as one of Trump’s closest advisors. Musk, alongside biotech entrepreneur Vivek Ramaswamy, is slated to lead the newly created Department of Government Efficiency. This advisory board will focus on dismantling bureaucratic inefficiencies, cutting wasteful expenditures, and restructuring federal agencies—a cornerstone of Trump’s promise to streamline government operations.
2. Warren Stephens – UK Ambassador
Valuation: $3.4 billion
A longtime Trump donor and influential figure in investment banking, Warren Stephens has been tapped to serve as the U.S. ambassador to the UK. As head of Stephens Inc., the Arkansas-based investment bank that played a pivotal role in Walmart’s IPO, Stephens brings decades of financial acumen to the diplomatic stage.
3. Linda McMahon – Secretary of Education
Valuation: $3 billion
The former WWE CEO and staunch Trump ally has been nominated to helm the Department of Education. McMahon previously served as the administrator of the Small Business Administration during Trump’s first term and later chaired the America First Policy Institute. Her business-minded approach to education is expected to echo Trump’s emphasis on efficiency and results-driven policies.
4. Jared Isaacman – NASA Administrator
Valuation: $3 billion
Jared Isaacman, CEO of Shift4 Payments and founder of defense firm Draken International, is Trump’s pick to lead NASA. With a background in innovation and private-sector space exploration, Isaacman is poised to further the administration’s ambitions in space exploration and technology development.
5. Howard Lutnick – Secretary of Commerce
Valuation: $1.5 billion
Cantor Fitzgerald CEO Howard Lutnick, who co-chaired Trump’s transition team, is slated to lead the Department of Commerce. Lutnick is renowned for rebuilding Cantor Fitzgerald after the tragic loss of 658 employees during the 9/11 attacks and is expected to bring his resilience and expertise to the nation’s economic strategy.
6. Vivek Ramaswamy – Co-Lead, Department of Government Efficiency
Valuation: $1 billion
Biotech entrepreneur and political newcomer Vivek Ramaswamy joins Elon Musk in spearheading the Department of Government Efficiency. As the founder of Roivant Sciences, Ramaswamy built a reputation for innovation in the pharmaceutical industry and is expected to tackle regulatory excess with the same zeal.
7. Kelly Loeffler – Small Business Administration
Valuation: $1.1 billion
Former Georgia senator Kelly Loeffler will lead the Small Business Administration. Married to billionaire Jeff Sprecher, Loeffler’s experience in both politics and business positions her as a strong advocate for small businesses—integral to Trump’s economic agenda.
