Trump's Man Steve Mnuchin; Wall Street, Hollywood and Now Treasury?
Former Goldman Sachs executive and Hollywood producer Steve Mnuchin, expected to be nominated as the next Treasury Secretary by President-elect Donald Trump, is a Yale graduate who previously served as Trump’s campaign finance chief while also dabbling in acting.
Along with those career milestones he ran a hedge fun and had been a frontrunner for what is one of the new president’s top cabinet positions.
Along with his deep background in finance, Mnuchin has produced such films as “American Sniper†and “Batman vs. Superman,†according to IMDB. He also acts recently playing the role of a Merrill Lynch executive in “Rules Don't Apply.†The film, directed by Warren Beatty, tells the story of two employees who work for eccentric billionaire Howard Hughes.
At 54 years old, Mnuchin’s net worth is estimated to be around $40 million, much of which was earned during his partner years at Goldman Sachs (NYSE:GS). Prior to getting involved in politics, he was a fixture on New York’s society set frequenting galas and serving on boards, including the Whitney Museum of American Art, as reported by the Wall Street Journal.
Mnuchin, if selected, would follow other Wall Street titans who have held the Treasury role, including former New York Federal Reserve President Timothy Geithner and former Goldman Sachs Chairman and CEO Henry “Hank†Paulson. Both played a role in navigating the U.S. through the financial crisis of 2008 and the years of economic decline that followed.
Wall Street is likely to applaud Trump’s pick, feeling he will pursue Trump’s economic agenda, which promises less regulation and lower corporate taxes.
“I think Steve is a very smart guy,†billionaire investor Carl Icahn said earlier this month. “I think Steve at that job would do better than I would and I think he will do a very capable job. I think he is a real loyalist for Donald. He wants to do the same program that Donald wants to doâ€, Icahn said during an interview on the FOX Business Network’s The Intelligence Report.