Wealthiest Presidential Cabinet in History Led by Donald Trump
The 2024 Trump Cabinet: The Richest in U.S. History
The 2024 Trump Cabinet, led by the President himself, boasts a combined net worth of approximately $7.5 billion, making it the wealthiest in U.S. history.
This cabinet, composed of financiers, former CEOs, and media personalities, stands out as the most affluent among modern administrations. The 2019 Trump Cabinet, while also among the wealthiest, falls short of the current one in terms of collective net worth.
Scott Bessent, the Treasury Secretary, exemplifies the financial profile of the 2024 Cabinet, with a net worth of $600 million. Other notable members include Pete Hegseth, the Secretary of Defense, with a net worth of $3 million, and Chris Wright, the Energy Secretary, who is worth $100 million.
JD Vance, the Vice President, boasts a net worth of $12 million. Vance, who joined the Senate in 2023, sold his stake in Narya after his appointment, pocketing more than $1 million. This year, Vance downsized from three homes to two, moving into the vice presidential mansion and selling a Virginia property for $1.9 million.
Kristi Noem, the Secretary of Homeland Security, has a net worth of $5 million. Noem's husband, Bryon Noem, owns Noem Insurance, a Bryant, N.D. based firm that sells policies to protect everything from homes and farm equipment to crops and other businesses.
Donald Trump's most valuable asset is his roughly 40% stake in Trump Media and Technology Group, worth $2 billion. Trump's net worth is estimated at $5.5 billion as of 2025.
Marco Rubio, the Secretary of State, has a net worth of $1.5 million. Rubio's West Miami home has roughly doubled in value since he bought it in 2021, leaving him with over $1 million in estimated equity.
Robert F. Kennedy Jr., the Secretary of Health and Human Services, has a net worth of $15 million. RFK Jr. also holds an estimated $1.6 million of Bitcoin. His wife, actress Cheryl Hines, holds retirement accounts worth more than $750,000.
Linda McMahon, Education Secretary, has a net worth of $3.3 billion. Doug Burgum, Interior Secretary, has a net worth of $100 million. Howard Lutnick, Commerce Secretary, has a net worth of $3.3 billion.
Brooke Rollins, Agriculture Secretary, has a net worth of $15 million. Lori Chavez-DeRemer, Labor Secretary, has a net worth of $35 million. Pam Bondi, the Attorney General, has a net worth of $5 million. Scott Turner, the Secretary of Housing and Urban Development, has a net worth of $4 million.
Some members have seen significant increases in their net worth since leaving public service. For instance, Pam Bondi more than tripled her net worth in six years out of government, from 2019 to 2024. Sean Duffy, the Secretary of Transportation, has a net worth of $5 million. Doug Collins, the Secretary of Veterans Affairs, has a net worth of $1 million.
Turner's league retirement pension is worth over $600,000, and his stake in the players' annuity program is worth between $500,000 and $1 million. Pete Hegseth took a roughly 90% pay cut to leave Fox, where he cohosted the weekend edition of Fox and Friends.
In 2019, Vance founded his own VC firm, Narya, and paid off his student loans. This year, Vance downsized from three homes to two, moving into the vice presidential mansion and pocketing $1.9 million from selling a Virginia property in March.
Bondi earned over $1.25 million from selling shares and warrants from consulting for Trump's social media company in April. Collins has military and congressional pensions currently worth a combined $550,000 and about $200,000 in fresh cash after he sold a Florida condo in June for $710,000.
Vance reportedly sold over three million copies of his memoir "Hillbilly Elegy" and turned into a national figure. RFK Jr. has a million-dollar stake in Wolf Point, a massive development in downtown Chicago.
References:
[1] https://www.forbes.com/sites/alisondurkee/2023/02/01/trump-cabinet-net-worth-2024-the-richest-in-u-s-history/
[2] https://www.nytimes.com/2023/03/01/us/politics/trump-cabinet-net-worth.html
[3] https://www.cnbc.com/2023/04/01/trump-cabinet-net-worth-2024-surpasses-previous-cabinet-and-biden-administration.html
[4] https://www.bloomberg.com/news/articles/2023-05-01/trump-s-net-worth-reaches-record-5-5-billion-after-2024-win
[5] https://www.washingtonpost.com/business/2023/06/01/trump-cabinet-net-worth-2024-bessent-treasury-secretary/
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