1

Deirdre Fulton – Trump’s Cabinet Wealthier Than One-Third of US Households Combined

Besides comprising the wealthiest administration in modern U.S. history, President-elect Donald Trump’s 17 ultra-rich cabinet-level picks thus far have a combined wealth that surpasses that of the 43 million least wealthy American households combined.

That’s according to a Quartz analysis published Thursday, based on data from the 2013 Survey of Consumer Finances. It shows that the $9.5 billion held by Trump’s cabinet or cabinet-level nominees is greater than that of 43 million U.S. households combined—over one-third of the 126 million households total in the United States. (Other analyseshave shown the Trump administration to have an even higher combined wealth.)

“Even if we just compare the wealth of Trump’s cabinet to the median household, it is still an impressive concentration of riches,” Dan Kopf wrote for Quartz. “It would take about 120,000 households with the United States median net worth of about $83,200 to match the wealth of just the four richest members of Trump’s cabinet—Betsy DeVos, Wilbur Ross Jr., Linda McMahon, and Rex Tillerson.”

Read more