The billionaires who bought our government
The ranks of Trump’s second administration is on track to be the wealthiest in history, with billionaires tapped to lead the most important U.S. agencies. Just the Commerce, Education, and Small Business Administration nominees alone are worth a combined $5 billion. Meanwhile, the median net worth of all Americans is just $192,000.
Several of Trump’s cabinet picks are also some of his biggest donors, not least among them Elon Musk, who is now the largest political donor in the United States. He and other nominees donated millions to Trump’s campaign and pro-Trump groups. The average American, with only $250 of discretionary income per month, could afford to give roughly $3,000, at most, during the 2024 election cycle. The majority of people are simply priced out of democracy in a system where the top one percent can donate unlimited money to super PACs, buy entire social media platforms to spread propaganda, and then be rewarded with the most powerful positions in federal government.
Some of Trump’s cabinet picks include:
Elon Musk was chosen to serve as co-chair of “Department” of Government Efficiency (which is not an actual government agency). His net worth is over $300 billion. He spent $277 million, or roughly one-tenth of a percent of his total wealth, on boosting Trump during the 2023-2024 cycle. Since the election, his net worth increased by $70 billion—a 25,000% return on the money he donated to pro-Trump causes.
Vivek Ramaswamy was chosen to serve as co-chair of “Department” of Government Efficiency. His net worth is roughly $1 billion, primarily derived from Roivant Sciences, a pharmaceutical company he founded in 2014.
Howard Lutnick was nominated to serve as secretary of the Commerce Department. His net worth is $2 billion, derived from his position as chairman of investment firm Cantor Fitzgerald. Lutnick has been a consistent Trump donor for years, including hosting a fundraiser for Trump in 2019 that raised $5 million.
Scott Bessent was nominated to serve as secretary of the Treasury Department. His net worth is unknown but estimated to be over $1 billion. This election cycle, he donated over $1 million to Make America Great Again Inc., and another $676,000 to Trump’s campaign and affiliated committees. Bessent also held multiple fundraisers that raised over $50 million for Trump’s campaign.
Linda McMahon, nominated to serve as head of the Department of Education, has a net worth of $3 billion. She donated over $20 million to Make America Great Again Inc., and nearly $1 million to Trump’s campaign and affiliated committees.
Jared Isaacman, nominated to head NASA, is worth $1.9 billion.
Doug Burgum was nominated to the interior secretary position. He is worth at least $100 million.
Chris Wright, nominated to head the Energy Department, is worth $171 million.
Kelly Loeffler was nominated to serve as Small Business administrator. She is worth $1.1 billion.
David Sacks, chosen to serve as the “AI and crypto czar,” a made-up position, is estimated to be worth up to $2 billion.
Top donors
Elon Musk’s America PAC, a super PAC created in July 2024 to support Trump’s campaign, raked in money from the uber-wealthy during the final months of the election. The PAC spent heavily on canvassing, text message-based get-out-the-vote efforts, and digital advertising, as well as funding the cash giveaway promoted by Musk.
Musk himself gave just under $239 million to the PAC.
Antonio Gracias, CEO of Valor Equity Partners with a net worth of $1.4 billion, gave $1 million.
Kenneth Howery, a co-founder of PayPal and partner of Peter Thiel’s venture fund, with a net worth of $1.5 billion, gave $1 million.
Douglas Leone, a venture capitalist worth $8.5 billion, gave $1 million.
Lonsdale Enterprises, owned by Palantir co-founder Joe Lonsdale, who is worth $425 million, gave $1 million.
James Liautaud, founder of Jimmy Johns with a net worth of $2.4 billion, gave $1 million.
Joe Craft, CEO of coal company Alliance Resource Partners with a net worth of $1.4 billion, gave $1 million.
John Hering, a venture capitalist whose company has $5 billion in assets, gave $500,000.
Shaun Maguire, a venture capitalist whose company manages $85 billion in assets, gave $500,000.
Troy Link, CEO of Jack Links and owner of WCM Investments with a net worth of $500 million, gave $500,000.
Tyler and Cameron Winklevoss, cryptocurrency investors of Facebook fame, each worth $2.7 billion, each gave $250,000.
Michael Thompson, a former executive at Cintas Corp. with a net worth of $55 million, gave $200,000.
Make America Great Again Inc., a super PAC staffed by former Trump staffers, raised over $300 million during the 2024 election cycle. The PAC ran ads that Kamala Harris is soft on crime, focusing on Pennsylvania.
Timothy Mellon, a banking heir whose family is worth over $14 billion, gave $150 million.
Linda McMahon, WWE co-founder and Trump’s nominee to head the Department of Education, with a net worth of $3 billion, gave over $20 million.
Diane Hendricks, co-founder of building products distributor ABC Supply Co. with a net worth of $21 billion, gave $15 million.
Robert Bigelow, a hotel entrepreneur worth $1 billion, gave over $14 million.
Richard and Elizabeth Uihlein, founders of shipping supply company Uline with a net worth of $6 billion each, gave $10 million.
Anthony Pratt, an Australian businessman worth over $11 billion, gave $15 million (you may remember Pratt: he’s the billionaire that Trump shared nuclear secrets with at Mar-a-Lago).
Patricia Duggan, ex-wife of billionaire venture capitalist Bob Duggan, gave over $6 million.
Howard Lutnick, a financial firm CEO and Trump’s nominee for Commerce Secretary, with a net worth of $2 billion, gave nearly $9 million.
John Addison, former CEO of a multi-level marketing company with a net worth of at least $31 million, gave $5 million.
Paul Singer, a hedge fund manager who is worth $6 billion, gave $5 million.
Kelcy Warren, CEO of fossil fuel company Energy Transfer Partners with a net worth of over $7 billion, gave $5 million.
Timothy Dunn, CEO of fossil fuel company CrownQuest with a net worth of $2 billion, gave $5 million.
The Right for America PAC is a super PAC led by Sergio Gor, Trump’s pick to run the White House Presidential Personnel Office. It raised over $72 million this election cycle, spending money on ads attacking Harris over immigration and grocery prices.
Anthony Lomangino, chairman of a waste management company, gave nearly $8 million.
Ike Perlmutter, financier and former chairman of Marvel Entertainment, and his wife Laura, gave $5 million. Their net worth is nearly $5 billion.
David Millstone, the co-CEO of industrial conglomerate Standard Industries, whose family is worth over $19 billion, gave $5 million.
Robert Book, co-Vice Chairman of the Board of Axxes Capital with a net worth of roughly $500 million, gave over $4 million.
The Preserve America PAC is a super PAC founded by the late Sheldon Adelson, the CEO of casino company Las Vegas Sands, and his wife, Miriam, in 2020. This election cycle, Miriam gave $100 million to the PAC, which used the money to produce and run advertisements attacking Kamala Harris in swing states.
Author’s note: Expect fewer posts than normal this month as I focus on getting projects set up for next year. Primarily, I’m working on making a spreadsheet tracking which of Project 2025’s goals are enacted and getting /r/47chaos set up.