Trump dwarfs his predecessors in the number of ultra-rich in his second White House, report shows

In Donald Trump's second term, his presidential administration has appointed more ultra-wealthy individuals than any of his predecessors combined, according to a report from the consumer advocacy group Public Citizen. Thirty-seven Trump officials, including 17 ambassadors and 20 senior executives, are worth at least $100 million. This starkly contrasts with the combined total of five such officials in George W. Bush’s administration, three in Joe Biden’s, and three in Barack Obama’s.

The report highlights a potential issue: when the people in charge are overwhelmingly drawn from the ranks of the ultra-rich, it can lead to misplaced incentives and corruption. Lisa Gilbert, co-president of Public Citizen, stated that this composition raises the question of whose interests the administration is truly serving.

The Trump administration has long favored appointing the ultrawealthy, viewing financial success as evidence of executive mastery. In his first year back in the White House, Trump pursued policies that could benefit the wealthy, including tax cuts and reduced regulatory burdens. However, recent approval ratings show that only 32% of U.S. adults approve of Trump's handling of the economy, down from 40% at the beginning of his second term.