How much is Steven Mnuchin worth?
Mnuchin is one of the few original Cabinet members remaining in the Trump administration
Treasury Secretary Steven Mnuchin has become one of the most influential policymakers in the U.S. -- and the world -- during the coronavirus pandemic.
Mnuchin, one of the few original Cabinet members remaining in the Trump administration, has played an influential role in negotiating legislation to stave off economic calamity as American life came to a grinding halt in mid-March. That includes the $2.2 trillion CARES Act, the massive government relief package that sent one-time cash payments of up to $1,200 to some Americans; established the Paycheck Protection Program and expanded unemployment benefits by $600 per week through the end of July.
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Unlike previous Treasury secretaries, Mnuchin did not have a long history of working in public service before moving to Washington.
He came to the role in 2017 after working on Trump's presidential campaign as national finance chairman. Before then, he had a long history as a Wall Street financier -- he'd worked for 17 years at Goldman Sachs before leaving in 2002 -- and also worked for several hedge funds and in film (the highlights reel includes "American Sniper" and "Wonder Woman").
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Mnuchin's net worth is about $400 million, according to a Forbes analysis of public filings. (Federal financial disclosure forms allow cabinet nominees to list ranges for the value of their assets rather than fixed dollar amounts).
But Goldman accounts for just a fraction of Mnuchin's overall fortune: He owns expensive art, movie deal rights and stakes in several hedge funds, a private plane and has a vast real estate portfolio. He and his wife own at least six homes, including multimillion-dollar properties in New York City, Washington and the Hollywood neighborhood of Los Angeles.
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After joining Trump's cabinet, Mnuchin sold much of his portfolio. His biggest divestment was a stake in the financial firm CIT Group, worth roughly $105 million. He also got rid of multimillion-dollar stakes in Berkshire Hathaway, Microsoft, Verizon and Goldman Sachs.
Mnuchin, 57, grew up in a wealthy and well-connected family in New York City, according to The New Yorker. He went to Yale where he was roommates with the former Sears chairman, and new owner, Eddie Lampert, majored in economics and was "tapped" for the secret society Skull and Bones.