U.S. Commerce Secretary Lutnick Reports $250 Million Income

U.S. Commerce Secretary Howard Lutnick has declared revenue of at least $250 million for 2025. According to CNBC, citing a financial statement provided by the Office of Government Ethics, most of these funds were income from financial institutions, which he left to transition to the civil service.

The largest item of income was $ 192 million received from the investment company Cantor Fitzgerald, which Mr. Lutnick headed for decades. In the declaration, this payment is listed as a tax allocation "carried out in accordance with an ethical agreement." In addition, the minister received $4.2 million in salary and bonuses from Newmark, a commercial real estate company, and another $19.6 million from the exchange of partner shares in it. Revenue from brokerage technology BGC Group was $14.1 million (salary and bonuses) plus more than $5 million in limited shares.

Mr. Lutnick also acquired financial assets worth at least $166 million, mostly U.S. government bonds and broad-market funds. In particular, he sent more than $50 million to buy shares of the exchange-traded fund (ETF) on the S&P 500 index and made two transactions worth more than $50 million each to buy shares of the Treasury Fund Fidelity Treasury.

Mr. Lutnick took office in February 2025, leaving senior positions at Cantor, BGC, Newmark and hundreds of other organizations. Cantor is now run by his two eldest sons. He is considered one of the richest members of the US government.

Vlad Nikiforov