Trump dwarfs his predecessors in the number of ultra-rich in his second White House, report shows

Trump dwarfs his predecessors in the number of ultra-rich in his second White House, report shows 1 of 4 | President Donald Trump speaks while meeting with Lebanese President Joseph Aoun in the Oval Office at the White House, Tuesday, July 21, 2026, in Washington. (AP Photo/Mark Schiefelbein) 2 of 4 | President Donald Trump speaks in the Oval Office of the White House, Thursday, Aug. 6, 2026, in Washington. (AP Photo/Alex Brandon) 3 of 4 | Commerce Secretary Howard Lutnick speaks during an event with President Donald Trump in the Oval Office of the White House, Thursday, Aug. 6, 2026, in Washington. (AP Photo/Alex Brandon) 4 of 4 | Small Business Administration Administrator Kelly Loeffler, Secretary of Education Linda McMahon and Treasury Secretary Scott Bessent applaud as President Donald Trump speaks at Wheeler High School, Wednesday, July 22, 2026, in Marietta, Ga. (AP Photo/Julia Demaree Nikhinson) 1 of 4 | President Donald Trump speaks while meeting with Lebanese President Joseph Aoun in the Oval Office at the White House, Tuesday, July 21, 2026, in Washington. (AP Photo/Mark Schiefelbein) 1 of 4 President Donald Trump speaks while meeting with Lebanese President Joseph Aoun in the Oval Office at the White House, Tuesday, July 21, 2026, in Washington. (AP Photo/Mark Schiefelbein) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share 2 of 4 | President Donald Trump speaks in the Oval Office of the White House, Thursday, Aug. 6, 2026, in Washington. (AP Photo/Alex Brandon) 2 of 4 President Donald Trump speaks in the Oval Office of the White House, Thursday, Aug. 6, 2026, in Washington. (AP Photo/Alex Brandon) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share 3 of 4 | Commerce Secretary Howard Lutnick speaks during an event with President Donald Trump in the Oval Office of the White House, Thursday, Aug. 6, 2026, in Washington. (AP Photo/Alex Brandon) 3 of 4 Commerce Secretary Howard Lutnick speaks during an event with President Donald Trump in the Oval Office of the White House, Thursday, Aug. 6, 2026, in Washington. (AP Photo/Alex Brandon) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share 4 of 4 | Small Business Administration Administrator Kelly Loeffler, Secretary of Education Linda McMahon and Treasury Secretary Scott Bessent applaud as President Donald Trump speaks at Wheeler High School, Wednesday, July 22, 2026, in Marietta, Ga. (AP Photo/Julia Demaree Nikhinson) 4 of 4 Small Business Administration Administrator Kelly Loeffler, Secretary of Education Linda McMahon and Treasury Secretary Scott Bessent applaud as President Donald Trump speaks at Wheeler High School, Wednesday, July 22, 2026, in Marietta, Ga. (AP Photo/Julia Demaree Nikhinson) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] Wealth, perhaps second only to loyalty, has been a prized attribute for Donald Trump during his second presidency.The number of people worth at least $100 million whom the Republican president has appointed to his administration is more than four times the combined total under the three previous presidents, according to a report from the consumer advocacy group Public Citizen.It’s the numbers for the Trump administration, in the context of previous administrations, that stand out in Public Citizen’s report, published on Monday. In all, 57 Trump officials are worth at least $100 million, including 17 ambassadors and the remaining 40 in senior posts across the executive branch. Look no further than Trump’s Cabinet. Eight of its 23 members fit the category, notably Treasury Secretary Howard Lutnick and Education Secretary Linda McMahon, both billionaires. Commerce Secretary Howard Lutnick speaks during an event with President Donald Trump in the Oval Office of the White House, Thursday, Aug. 6, 2026, in Washington. (AP Photo/Alex Brandon) Commerce Secretary Howard Lutnick speaks during an event with President Donald Trump in the Oval Office of the White House, Thursday, Aug. 6, 2026, in Washington. (AP Photo/Alex Brandon) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share Small Business Administration Administrator Kelly Loeffler, Secretary of Education Linda McMahon and Treasury Secretary Scott Bessent applaud as President Donald Trump speaks at Wheeler High School, Wednesday, July 22, 2026, in Marietta, Ga. (AP Photo/Julia Demaree Nikhinson) Small Business Administration Administrator Kelly Loeffler, Secretary of Education Linda McMahon and Treasury Secretary Scott Bessent applaud as President Donald Trump speaks at Wheeler High School, Wednesday, July 22, 2026, in Marietta, Ga. (AP Photo/Julia Demaree Nikhinson) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share The president, himself a billionaire, has described his inclination toward appointing the ultrawealthy as deference to financial success. And yet, Trump, who owes his White House comeback to support from middle-income, working Americans drawn to his pledge to lower everyday costs, now faces a midterm election electorate decidedly less keen on his handling of the economy. Presidents have long sought counsel from the nation’s wealthiest people and tapped some for high-profile administrative leadership roles. Likewise, presidents routinely reward wealthy and influential supporters with ambassadorships. 1 MIN READ 6 MIN READ 1 MIN READ Among the most notable examples is Andrew Mellon, the aluminum, oil and banking tycoon who was among the handful of the nation’s wealthiest people in the 1920s and served as treasury secretary for three presidents. The Trump officials worth at least $100 million include Deputy Secretary of Defense Stephen Feinberg and Small Business Administration Administrator Kelly Loeffler, who are also billionaires, and Treasury Secretary Scott Bessent and special envoy Steve Witkoff, both worth hundreds of millions of dollars. By comparison, Republican George W. Bush’s administration and Democrat Joe Biden’s each included five members worth $100 million or more. Democrat Barack Obama’s included three, the report states. A government populated by so many of the economic elite presents potential problems, the report’s authors said. “When the people holding the reins of government are drawn overwhelmingly from the ranks of the ultra-rich, it leads to misplaced incentives and corruption, and begs the question, ‘Whose interests they are truly serving?” said Lisa Gilbert, Public Citizen’s co-president. The list does not include Trump, whose net worth Forbes estimates at more than $6 billion. Nor does it include space and social media giant Elon Musk, who advised Trump last year on an effort to reduce the federal government’s size, scope and workforce and is the world’s wealthiest person, with a net worth Forbes estimates at about $860 billion.