NEW REPORT: Donald Trump’s Billionaire Cabinet Raises Concerns About Conflicts of Interest

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 — not an out-of-touch Cabinet with ethical conflicts across the board who are only focused on their own pocketbooks.

Here’s a look at new reporting on Trump’s out-of-touch, ethically conflicted billionaire Cabinet:

Washington Post: “Trump has assembled an uber-wealthy Cabinet, raising risks of ethics conflicts”

“A month after securing the White House with populist promises to working class voters, 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.

“Trump’s 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’s picked billionaires to serve as commerce secretary and education secretary, and he has tapped other ultra-wealthy leaders for treasury and interior. He’s also offered noncabinet positions, including NASA director and deputy defense secretary, to billionaires.

“Throughout the transition, Elon Musk, the world’s richest man, has been by Trump’s side, serving as ‘first buddy’ and establishing the nongovernmental ‘Department of Government Efficiency.’ On Thursday night, Trump tapped tech investor David Sacks — who made his fortune in part through the $1.2 billion sale of the software company Yammer to Microsoft — to serve as his artificial intelligence and cryptocurrency czar. …

“Trump’s picks have not yet released their financial disclosures, but his 2025 Cabinet is likely to be even richer than the first Trump Cabinet, which had a combined net worth of $6.2 billion. …

“Wealthy Americans who have had successful careers in business have long served in government, but watchdog groups say the high concentration of ultra-wealthy picks for roles in Trump’s Cabinet presents distinct conflict of interest risks and could work against promises Trump — a billionaire himself — made on the campaign trail. …

“Watchdog groups are concerned about the new conflicts of interests that Trump’s nominees could present. Trump’s 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. …

“Trump 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’s 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.”