Trump Inaugurates Wealthiest Cabinet in U.S. History

President Donald Trump was inaugurated for his second term and assembled a cabinet including 13 billionaires with a combined net worth exceeding $450 billion — by far the wealthiest administration in American history. Elon Musk, worth over $400 billion, was named to lead the Department of Government Efficiency as a Special Government Employee, while Commerce Secretary Howard Lutnick retained approximately 60% ownership of Cantor Fitzgerald and Treasury Secretary Scott Bessent held extensive hedge fund interests. The Office of Government Ethics began reviewing financial disclosures and conflict-of-interest waivers for each appointee.