There are a lot of billionaires in Trump's coming administration
The Indicator from Planet Money
NPR
4.7 • 9.5K Ratings
🗓️ 16 December 2024
⏱️ 11 minutes
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Summary
Today on the show, we talk to a few experts about how massive amounts of wealth in high levels of government can impact policy.
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Transcript
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| 0:00.0 | NPR. The way things are going, it's looking likely that President-elect Trump's incoming cabinet and staff will quite literally be run by billionaires. |
| 0:21.0 | Okay, not only billionaires, but way more billionaires than your typical presidential |
| 0:25.8 | administration. |
| 0:26.8 | We don't have time to go through all of Trump's nominees, but here's some of those reported |
| 0:31.1 | billionaires, hedge fund CEO Scott Bessent for Treasury Secretary. |
| 0:35.6 | Howard Lutnik, CEO of a financial services firm |
| 0:38.4 | for Commerce Secretary. Linda McMahon, former CEO of World Wrestling Entertainment for Education |
| 0:44.2 | Secretary. And then there's Vivek Ramoswamy, pharmaceutical billionaire who's been |
| 0:48.3 | tapped to co-lead the so-called Department of Government Efficiency, along, of course, with the |
| 0:53.7 | world's richest man, the billionaire of |
| 0:55.6 | billionaires, Elon Musk. Again, this is just a partial list of Trump's billionaire nominees |
| 1:01.0 | and appointments, and we haven't even gotten to the millionaires. Now, estimates are that the total |
| 1:06.1 | combined wealth of Trump's picks for his cabinet and administration would be upwards of $300 billion. |
| 1:13.3 | And granted, the rich and well-connected have always had a leg up in politics and government. |
| 1:18.0 | But if Trump's picks are confirmed, the amount of personal wealth held by top government |
| 1:22.1 | officials would be unprecedented. |
| 1:25.1 | This is the indicator from Planet Money. I'm Adrienne Ma. |
| 1:28.1 | And I'm Waylon Wong. |
| 1:29.3 | Today on the show, what does this influx of the Uber wealthy into high office mean for the country? |
| 1:49.0 | This message comes from Wise, the app for doing things in other currencies. |
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