Commerce Secretary Howard Lutnick Discloses $250 Million Income

US Commerce Secretary Howard Lutnick reported at least $250 million in income and proceeds for 2025, his first year in government. The bulk of his earnings stemmed from his former leadership roles at financial firms, including a $192 million tax distribution from Cantor Fitzgerald and millions more from BGC Group and Newmark.

Lutnick, who stepped down from his corporate positions upon his confirmation in February 2025, also reported trading over $400 million in assets. He remains one of the wealthiest members of President Donald Trump's Cabinet, having built his career at Cantor Fitzgerald following the company's significant losses during the September 11 attacks.

Editor's note: Accurate summary of the financial disclosures. The brief correctly attributes the $192 million and mentions his departure from corporate roles.