President Trump is known to be fond of surrounding himself with advisers who are also business savvy – and that expertise is serving some of his Cabinet members – and their bank accounts – very well.
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While most of his team has had their financials publicly revealed, details pertaining to three officials – Education Secretary Betsy DeVos, Treasury Secretary Steven Mnuchin and Commerce Secretary Wilbur Ross – have not been officially released. Typically, disclosures are filed in the spring.
However, Politico received details from each official’s respective agency, and reported this week that each raked in tens of millions of dollars in 2017.
Here’s a breakdown of what the trio of administration members made, as reported by Politico:
Education Secretary Betsy DeVos
DeVos and her husband reported earnings of $59.4 million in 2017.
She divested more than 100 assets before assuming her spot with the administration.
Three new investments last year brought DeVos and her husband as much as $1 million.
Treasury Secretary Steven Mnuchin
In 2017, Mnuchin netted more than $41.6 million.
According to the report, some of Mnuchin’s profits came from selling his stake in Seritage Growth Properties – a real estate investment trust that was spun off of bankrupt retailer Sears. Seritage has been buying now-vacant Kmart and Sears store locations.
The Treasury secretary also had investments in ESL, the hedge fund owned by Sears chairman Eddie Lampert.
Mnuchin divested his Seritage assets, as requested by Congress, netting the former banker as much as $10 million. Sales of interest in ESL generated up to $150,000.
Commerce Secretary Wilbur Ross
Ross, who built a lucrative career as a private equity impresario, brought home about $47 million last year, including $6.1 million from giving away his stock options at Invesco – where he previously worked – and $5 million from selling stock in the company.
He also received a bonus worth more than $970,500 when he left the company.