Billionaire megadonor and long-time companion Howard Lutnick is likely to be the novel commerce secretary of Donald Trump’s administration, accounts said Tuesday though the president-elect did not make any news. Lutnick was pursuing the US Department of Treasury, so this is not the role he played lobbying for. Elon Musk and Robert F. Kennedy Jr. officially supported Lutnick, who co-chaired the Trump change group.
The financial companies company Cantor Fitzgerald is led by Lutnick.
As the co-chair of the change team, Howard Lutnick was looking for applicants to complete Trump’s management, and he is now one of them. There were questions as to why he continued to work for companies that oversaw and control these businesses and why he kept working for himself.
When 658 of Lutnick’s staff and his sibling died in the World Trade Center invasion of 2001, Lutnick gained national attention. He practically completely rebuilt Cantor Fitzgerald.
Lutnick, 63, had been running for the position of Treasury secretary, but apparently Donald Trump had a problem because of infighting between Lutnick and other well-known people, including businessman Scott Bessent.
Lutnick accepted an ambassadorship offer, but he turned it down.
Fox Business reported that Lutnick accepted an ambassadorship offer, but he turned it down. that offer. “It’s a free for all for Treasury secretary and there’s a mad dash to find someone pro-tariff to lead the Treasury with Lutnic being tapped to lead the commerce department,” the report said.
In being tapped for Commerce, Lutnick edged out Robert Lighthizer, the US deal member during Trump’s first word, and Linda McMahon, an executive of the Small Business Administration from 2017 to 2019, for the position. According to CNN, both were informed that Lutnick was pursuing the position within the next day or so.
The move chair position was clearly in favor of McMahon and Lutnick, but Lighthizer started to make an appearance. And then, every report states that it is Lutnick.
McMahon expressed frustration with Trump last week when it became evident he was considering hiring Lighthizer and considering hiring her as an adviser. She was finally misinformed that the change co-chair was basically being hired by CNN.
