Dec 16, 2016 04:00 AM EST

US President-Elect Donald Trump’s Treasury and Commerce Picks ‘Opportunists’ And ‘Dealmakers’; Elite Cabinet Makes More Than A Third Of American Households

By JC Santos

US President-Elect Donald Trump's picks include former Goldman Sachs partner Steve Mnuchin and Bankruptcy Dean, WL Ross & Co, and ex-Rothschild Banker Wilbur Ross. The list of possible Trump cabinet picks have earned more money in individual trades and businesses than the combined income of a third of American families. Most of the candidates have much in common with Trump's perceived personality as "opportunists."

The US President-Elect Donald Trump picked Steve Mnuchin and Wilbur Ross as Treasury and Commerce Secretaries respectively likely because the two are some of America's finest "dealmakers." According to Politico Magazine, the two are "swashbuckling deal honchos" that can - at America's economic opportunity - find "hidden" deals that most businessmen and politicians fail to notice. The magazine said they "have the ability to sniff out opportunities in other people's distress."

Steve Mnuchin made his name after he saw an opportunity to become the firm's partner in 1994. As the company was losing money and partners, Mnuchin stepped in and made his investment, which saved the company. Analysts see him similar to Trump's risk-taking personality.

Eighty-years-old Wilbur Ross is regarded a top adviser of bankruptcy and understood opportunities to help clients find recovery despite a tight outlook. He made risky investments in Rothschild that he aced because of his mastery of the bankruptcy code and reading lender's minds under immense pressure. Upon building the WL Ross & Co investment firm, the tech bubble collapse elevated him to the ranks of American elite.

Elite may be a proper term for US President-Elect Donald Trump's cabinet picks. Trump himself had said that he wants people who had made a fortune because "they are investing for [America], OK?" Indeed, the figure income of his cabinet collectively can make up 30% of America's economy.

According to The Hill, citing reports from Quartz, candidate for Education Secretary Betsy DeVos is worth $5.1 billion. Wilbur Ross himself is worth $2.9 billion. US Secretary of State pick former Exxon Mobil boss Rex Tillerson is probably the relatively lowest in the 17 cabinet picks with a net worth of $150 million.

Get the Most Popular Jobs&Hire Stories in a Weekly Newsletter
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.
TRENDING ON THE WEB

Join the Conversation

Real Time Analytics