Donald Trump’s second administration risks being rife with potential conflicts of interests given the sprawling business and financial interests of several cabinet picks and allies, warn ethics watchdogs and experts.
Trump’s cabinet is shaping up to be one of the wealthiest on record after he tapped a number of financiers and business executives, including nominees Scott Bessent as Treasury secretary, Howard Lutnick to lead the commerce department, and Chris Wright as energy secretary. Elon Musk, the world’s richest man, has also become a close adviser and confidant of the president-elect.
It is not unusual for senior figures from corporate America and Wall Street to join the US government. Hank Paulson of Goldman Sachs was Treasury secretary in George W Bush’s administration, and ExxonMobil head Rex Tillerson served as secretary of state during Trump’s first term.