Skip To Content
JEWISH. INDEPENDENT. NONPROFIT.
News

Steve Mnuchin Plans to Sell Assets as Treasury Secretary

Steve Mnuchin, President-elect Donald Trump’s pick for Treasury Secretary, has announced that he will sell off some investments and quit a number of corporate board, if the Senate approves his nomination.

According to a letter mailed to senators, Mnuchin has pledged to liquidate his interests in companies including Berkshire Hathaway, Citigroup, Microsoft and Verizon within three months of confirmation. He said that he would step away from his movie production company Dune Entertainmtnet within four months of the confirmation. He also promised to leave the boards of multiple organizations, including New York’s Columbia Presbyterian Hospital and Los Angeles’ Cedars-Sinai Medical Center.

If filings are correct, Mnuchin is worth upward of $150 million, a hefty sum but certainly not the largest in Trump’s cabinet of billionaires and corporate executives. He won the confidence of Trump by serving as the president-elect’s finance chief during the campaign, and has for a long time been in the inner circle of the Trump Tower clique.

Mnuchin’s nomination is sure to face criticism from Democrats concerned about his ties to Wall Street and his past activities as owner of the OneWest bank, which has been scrutinized for its mortgage and foreclosure practices. Due to his large and far-flung investments, he might also run into the same questions about conflicts of interest and self-dealing that have dogged the president-elect himself.

Contact Daniel J. Solomon at [email protected] or on Twitter @DanielJSolomon

A message from our CEO & publisher Rachel Fishman Feddersen

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

We’ve set a goal to raise $260,000 by December 31. That’s an ambitious goal, but one that will give us the resources we need to invest in the high quality news, opinion, analysis and cultural coverage that isn’t available anywhere else.

If you feel inspired to make an impact, now is the time to give something back. Join us as a member at your most generous level.

—  Rachel Fishman Feddersen, Publisher and CEO

With your support, we’ll be ready for whatever 2025 brings.

Republish This Story

Please read before republishing

We’re happy to make this story available to republish for free, unless it originated with JTA, Haaretz or another publication (as indicated on the article) and as long as you follow our guidelines. You must credit the Forward, retain our pixel and preserve our canonical link in Google search.  See our full guidelines for more information, and this guide for detail about canonical URLs.

To republish, copy the HTML by clicking on the yellow button to the right; it includes our tracking pixel, all paragraph styles and hyperlinks, the author byline and credit to the Forward. It does not include images; to avoid copyright violations, you must add them manually, following our guidelines. Please email us at [email protected], subject line “republish,” with any questions or to let us know what stories you’re picking up.

We don't support Internet Explorer

Please use Chrome, Safari, Firefox, or Edge to view this site.