According to The Washington Post, President Trump has assembled what it described as “the richest administration in American history,” consisting of 12 billionaires, not including Trump himself.
Beyond Elon Musk, who spent more than $294 million supporting Trump and Republican candidates during the 2024 election cycle, other billionaire members of the administration collectively contributed over $52 million to Trump and the Republican Party last year.
White House spokesperson Liz Huston previously said the administration’s members are “patriots who do not come from the traditional political class,” adding that they take pride in serving the country after decades of success in the private sector.
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President Donald Trump
When Trump took office for his first term in 2017, Forbes estimated his net worth at approximately $3.5 billion, a figure that later declined partly due to weaker returns from Midtown Manhattan real estate.
Since then, Trump’s net worth has risen to more than $5 billion, driven largely by ventures outside real estate, including cryptocurrency investments and the social media platform Truth Social.
Commerce Secretary Howard Lutnick
Before his appointment as Commerce Secretary, Howard Lutnick served for many years as CEO of the financial services firm Cantor Fitzgerald. He is estimated to be worth around $3.2 billion.
Lutnick and his wife donated $550,000 to Trump and Republican committees in 2020, followed by $8.8 million during the 2024 campaign. The family has also contributed funds this year toward the construction of a White House ballroom.
Education Secretary Linda McMahon
Linda McMahon, along with her husband Vince McMahon, amassed billions through World Wrestling Entertainment (WWE). She now leads the Department of Education, an agency President Trump has said he intends to dismantle.
McMahon has acknowledged that congressional approval is required to abolish the department but has already begun taking steps aligned with Trump’s agenda. Since 2015, the McMahons have donated more than $47 million to Trump and pro-Trump political committees. She previously headed the Small Business Administration during Trump’s first term and was part of his 2024 transition team.
Special Envoy Steve Witkoff
Steve Witkoff, a longtime friend of Trump since 1986, is a real estate billionaire with an estimated net worth of $2 billion. His family also invests in cryptocurrency.
Witkoff currently serves as Trump’s peace envoy and has drawn attention for his involvement in ceasefire talks between Israel and Hamas, as well as negotiations aimed at ending the war in Ukraine. During the 2024 campaign, he was frequently tasked with outreach to skeptical Republicans, including Georgia Governor Brian Kemp and former U.S. ambassador to the United Nations Nikki Haley.
Small Business Administration Head Kelly Loeffler
Kelly Loeffler, whose net worth is estimated at $1.3 billion, and her husband Jeff Sprecher have been strong Trump supporters. Their contributions rose from less than $100,000 in 2016 to $1.9 million in 2020 and $7.1 million in 2024.
They also donated $1 million for Trump’s inauguration and an additional $5 million to a pro-Trump committee in June, along with further contributions toward the White House ballroom project.
Members of the Department of Government Efficiency (DOGE)
Elon Musk, the world’s richest individual with a net worth of approximately $342 billion, previously led DOGE as a special government employee before a reported falling-out with Trump. It remains unclear whether Musk will continue his large-scale financial support for Republicans.
Other billionaire DOGE members include Joe Gebbia, worth about $8.3 billion, who worked on modernizing the federal pension system and now serves as U.S. government design director, and Antonio Gracias, worth roughly $2.2 billion, who oversaw Social Security initiatives and donated $1 million to Trump’s committee ahead of the inauguration.
U.S. Ambassadors
Billionaire Tilman Fertitta, the U.S. ambassador to Italy and San Marino, is worth $11.3 billion, largely from his hospitality and entertainment empire. He and his wife donated $1 million to Trump’s 2024 campaign and another $1 million to the inauguration.
Melinda Hildebrand, worth $7.7 billion, was appointed ambassador to Costa Rica in February. Her family also contributed $1 million to Trump’s inauguration.
U.S. ambassador to the United Kingdom Warren Stephens, worth $3.4 billion, initially opposed Trump in 2016 but later became a major supporter, donating $8.6 million in 2024 and $4 million toward Trump’s inauguration.
Deputy Defense Secretary Stephen Feinberg
Billionaire Stephen Feinberg, with an estimated net worth of $5 billion, submitted a record-breaking 1,800-page financial disclosure upon joining the administration. Although he contributed little in 2024, he previously donated $2.1 million in 2016 and $1.7 million in 2020 to Trump’s campaigns.
SEC Chairman Paul Atkins
Paul Atkins, chairman of the U.S. Securities and Exchange Commission, has a net worth of approximately $1.2 billion. He and his wife contributed more than $100,000 to Trump-backed campaigns in both 2020 and 2024.