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 or on Twitter @DanielJSolomon


Daniel J. Solomon

Daniel J. Solomon is the Assistant to the Editor/News Writer at the Forward. Originally from Queens, he attended Harvard as an undergraduate, where he wrote his senior thesis on French-Jewish intellectual history. He is excited to have returned to New York after his time in Massachusetts. Daniel’s passions include folk music, cycling, and pointed argument.

Your Comments

The Forward welcomes reader comments in order to promote thoughtful discussion on issues of importance to the Jewish community. All readers can browse the comments, and all Forward subscribers can add to the conversation. In the interest of maintaining a civil forum, The Forward requires that all commenters be appropriately respectful toward our writers, other commenters and the subjects of the articles. Vigorous debate and reasoned critique are welcome; name-calling and personal invective are not and will be deleted. Egregious commenters or repeat offenders will be banned from commenting. While we generally do not seek to edit or actively moderate comments, our spam filter prevents most links and certain key words from being posted and the Forward reserves the right to remove comments for any reason.

Recommend this article

Steve Mnuchin Plans to Sell Assets as Treasury Secretary

Thank you!

This article has been sent!