Tuesday, April 4, 2017

Nikki Haley is apparently the least-rich person in President Trump's cabinet

DeVos and Kushner fortunes likely dwarf others

Posted by Sam Spence on Tue, Apr 4, 2017 at 12:46 PM

click to enlarge Gov. Nikki Haley testifies during her confirmation hearing earlier this year - CSPAN
  • CSPAN
  • Gov. Nikki Haley testifies during her confirmation hearing earlier this year
According to the New York Times, the White House administration President Donald Trump has assembled is "considered one of the wealthiest in United States History." Trump's top advisors include real estate investors, heirs to great fortunes, media moguls, and 36-year old in-laws (and that's just describing Jared Kushner.)

click to enlarge Jared Kushner (left), a senior advisor to Donald Trump, with his wife Ivanka Trump during the president's trip to Boeing South Carolina in February - CITY OF NORTH CHARLESTON
  • City of North Charleston
  • Jared Kushner (left), a senior advisor to Donald Trump, with his wife Ivanka Trump during the president's trip to Boeing South Carolina in February
U.N. Ambassador Nikki Haley's wealth, however, ranks dead last compared to her colleagues.

The value of Haley's assets could range from $66,003 to $165,00, according to the Times' analysis of cabinet nominee disclosures which report assets as a range. P&C analysis of those reports showed Haley's main assets as two retirement accounts worth at least $65,00 and personal accounts of up to $15,000. Haley's significant debts are a mortgage and credit cards.

The former governor's Statehouse colleague OMB Director Mick Mulvaney's wealth could range from $3.2 to $7.3 million. Bloomberg reported in December on Mulvaney's investments for gold and mining stocks, a preference they say could be seen as "a hedge against collapsing currency." Mulvaney oversees finances for executive agencies and assists in drawing up the president's proposed budget, essentially setting the priorities for the policies Trump articulated during the campaign.

In Haley and Mulvaney's home state, the median household income in 2015 was $45,483 and the median value of owner-occupied homes 2011-2015 was $139,900.

Education Secretary Betsy DeVos is likely the most wealthy member of the president's cabinet with assets that could value more than $1.5 billion. DeVos' father was a successful businessman and her husband is the heir to the Amway fortune. President Trump's son-in-law, Jared Kushner, is likely the second-wealthiest member of the commander in chief's inner circle, with an estimated value of up to $735 million. Secretary of State Rex Tillerson, CEO of Exxon Mobil, one of the world's most-valuable companies, is worth a paltry $350 million at most.

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