Trump Cabinet average net worth: 616x higher than average American household

Today, Americans for Tax Fairness released a new report revealing the vast wealth and potential conflicts of interest among President-elect Trump’s cabinet nominees and transition team officials. The document profiles several appointees and transition team members with a history of supporting economic policies that benefit themselves or large corporations at the expense of ordinary citizens. It also highlights their past and current potential conflicts of interest.

The report reveals that the combined wealth of President-Elect Trump’s wealthiest nominees and transition team officials amounts to over $313 billion. In contrast, President Biden’s cabinet was estimated to have a combined net worth of $118 million. Even excluding Elon Musk—the world’s richest man and Trump’s Co-Director of the Department of Government Efficiency—the average net worth of Trump’s Cabinet reaches $616 million. This figure is almost 616 times higher than that of the average American household.

“Since becoming President-Elect, Trump has wasted no time appointing his billionaire and millionaire cronies to key positions controlling our economy and government,” said David Kass, ATF’s Executive Director. “These appointments clearly show the incoming administration will be run by and for the ultra-wealthy. They’ve already announced plans to spend trillions of dollars to renew the Trump tax bill, to further enrich large corporations and wealthy elites like themselves while advocating for cuts to vital programs that working and middle-class Americans depend on.”

This report will be the first in a series of reports covering up-to-date information on the incoming Trump Administration’s appointments.