What is Howard Lutnick's net worth? Donald Trump picks the CEO as Commerce Secretary
Trump continues to fill out the Cabinet for his second White House administration. He has tapped Billionaire Howard Lutnick to be US Commerce Secretary.
It’s been exactly two weeks since the 2024 US elections and this time around Donald Trump is moving much faster to staff his second Cabinet than after his first successful run in 2016. So far, he’s put forward some names that have even bewildered his Republican colleagues like Matt Gaetz as Attorney General.
But his picks so far are loyalists to the incoming 47th president-elect that worked diligently to get him elected once again. On Tuesday, Trump announced his latest pick Howard Lutnick, CEO of Cantor Fitzgerald, to be the secretary of the US Department of Commerce.
The move to tap the billionaire investment banker and co-chair of the Trump transition team came as a bit of a surprise reports CNN, as Linda McMahon had been the front-runner until last week. That’s when Robert Lighthizer moved into pole position for the job. Both had served in the first Trump administration. Furthermore, people close to Trump’s ear like Elon Musk had been gunning for Lutnick to become the treasury secretary.
What is Howard Lutnick’s net worth? Donald Trump picks the CEO as Commerce Secretary
Lutnick began working for Cantor Fitzgerald in 1983 right out of Haverford College, Pennsylvania. In 1991 he became the President and CEO and chairman five years later. Over the years, he acquired an ever-greater share of the firm’s equity to the point where today he is the sole stockholder of Cantor Fitzgerald Group Management.
He is also the chairman and chief executive of investment firm BGC Group, an offshoot of Cantor Fitzgerald, and executive chairman of real estate brokerage Newmark Group. According to Celebrity Net Worth, he has a fortune of $2 billion.
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