{"id":1050188,"date":"2024-12-06T14:08:35","date_gmt":"2024-12-06T19:08:35","guid":{"rendered":"https:\/\/democrats.org\/?p=1050188"},"modified":"2024-12-06T14:08:36","modified_gmt":"2024-12-06T19:08:36","slug":"new-report-donald-trumps-billionaire-cabinet-raises-concerns-about-conflicts-of-interest","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-report-donald-trumps-billionaire-cabinet-raises-concerns-about-conflicts-of-interest\/","title":{"rendered":"NEW REPORT: Donald Trump\u2019s Billionaire Cabinet Raises Concerns About Conflicts of Interest"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" height=\"341\" width=\"1024\" src=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png?w=1024\" alt=\"\" class=\"wp-image-1038290\" srcset=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png 1500w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png?resize=300,100 300w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png?resize=768,256 768w, https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png?resize=1024,341 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Donald Trump is growing his special interest billionaire Cabinet by the day, trying to stack his administration with loyalists who will give themselves tax handouts on the backs of working families. The American people deserve leaders who will look out for them \u2014 not an out-of-touch Cabinet with ethical conflicts across the board who are only focused on their own pocketbooks.<\/p>\n\n\n\n<p><em>Here\u2019s a look at new reporting on Trump\u2019s out-of-touch, ethically conflicted billionaire Cabinet:<\/em><\/p>\n\n\n\n<p><a href=\"https:\/\/www.washingtonpost.com\/politics\/2024\/12\/06\/trump-billionaires-cabinet-ethics\/\">Washington Post<\/a>: <strong>\u201cTrump has assembled an uber-wealthy Cabinet, raising risks of ethics conflicts\u201d<\/strong><\/p>\n\n\n\n<p>\u201cA month after securing the White House with populist promises to working class voters, <strong>President-elect Donald Trump has chosen at least half a dozen billionaires and several other ultra-wealthy business leaders to serve in top administration roles.<\/strong><\/p>\n\n\n\n<p><strong>\u201cTrump\u2019s Cabinet is on track to be one of the richest in modern history, on par only with the team of millionaires and billionaires he assembled during his first term. He\u2019s picked billionaires to serve as commerce secretary and education secretary, and he has tapped other ultra-wealthy leaders for treasury and interior. He\u2019s also offered noncabinet positions, including NASA director and deputy defense secretary, to billionaires.<\/strong><\/p>\n\n\n\n<p>\u201cThroughout the transition, Elon Musk, the world\u2019s richest man, has been by Trump\u2019s side, serving as \u2018first buddy\u2019 and establishing the nongovernmental \u2018Department of Government Efficiency.\u2019 On Thursday night, Trump tapped tech investor David Sacks \u2014 who made his fortune in part through the $1.2 billion sale of the software company Yammer to Microsoft \u2014 to serve as his artificial intelligence and cryptocurrency czar. \u2026<\/p>\n\n\n\n<p>\u201cTrump\u2019s picks have not yet released their financial disclosures, but <strong>his 2025 Cabinet is likely to be even richer than the first Trump Cabinet, which had a combined net worth of $6.2 billion. <\/strong>\u2026<\/p>\n\n\n\n<p>\u201cWealthy Americans who have had successful careers in business have long served in government, but <strong>watchdog groups say the high concentration of ultra-wealthy picks for roles in Trump\u2019s Cabinet presents distinct conflict of interest risks and could work against promises Trump \u2014 a billionaire himself \u2014 made on the campaign trail. <\/strong>\u2026<\/p>\n\n\n\n<p><strong>\u201cWatchdog groups are concerned about the new conflicts of interests that Trump\u2019s nominees could present. Trump\u2019s first-term commerce secretary, Wilbur Ross, violated an ethics agreement by improperly reporting his stock holdings and faced scrutiny for his financial dealings while in office. <\/strong>\u2026<\/p>\n\n\n\n<p>\u201cTrump himself has not promised to divest from any of his businesses, which have now soared and include a cryptocurrency business and a stake in a social media company. And with Trump\u2019s own party controlling both chambers of Congress and a Cabinet packed with his allies and loyalists, he can expect little oversight over his finances, Bookbinder said.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donald Trump is growing his special interest billionaire Cabinet by the day, trying to stack his administration with loyalists who will give themselves tax handouts on the backs of working families. The American people deserve leaders who will look out for them \u2014 not an out-of-touch Cabinet with ethical conflicts across the board who are [&hellip;]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1050188","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NEW REPORT: Donald Trump\u2019s Billionaire Cabinet Raises Concerns About Conflicts of Interest - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/new-report-donald-trumps-billionaire-cabinet-raises-concerns-about-conflicts-of-interest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-06T19:08:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-06T19:08:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png?w=1024\" \/>\n<meta name=\"author\" content=\"Adrianna Tomasello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrianna Tomasello\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-report-donald-trumps-billionaire-cabinet-raises-concerns-about-conflicts-of-interest\/\",\"url\":\"https:\/\/democrats.org\/news\/new-report-donald-trumps-billionaire-cabinet-raises-concerns-about-conflicts-of-interest\/\",\"name\":\"NEW REPORT: Donald Trump\u2019s Billionaire Cabinet Raises Concerns About Conflicts of Interest - 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