Commerce Secretary Howard Lutnick reports more than $250 million in income last year
Commerce Secretary Howard Lutnick unwound his ties to Cantor Fitzgerald as the billionaire financier joined the Trump administration.
TL;DR
- Commerce Secretary Howard Lutnick reported at least $250 million in income and proceeds for 2025.
- The majority of his income came from Cantor Fitzgerald, a $192 million distribution for tax purposes under an ethics agreement.
- He also received significant income from Newmark ($4.2 million salary/bonus, $19.6 million partnership units) and BGC Group ($14.1 million salary/bonus, over $5 million stock units).
- Lutnick sold at least $259 million in assets, including stakes in Newmark, BGC, Cantor Fitzgerald, and CF Group Management.
- He made purchases of at least $166 million, mainly in Treasury and broad-market funds, including an S&P 500 ETF and a Fidelity Treasury fund.
- Despite stepping down from many leadership roles, Lutnick retained approximately 40 outside positions, mostly involving trusts and property companies.