Commerce Secretary Howard Lutnick Reports Over $250 Million in 2025 Income from Former Financial Firms
U.S. Commerce Secretary Howard Lutnick reported at least $250 million in income and other proceeds in 2025, primarily from financial firms he departed upon joining the Trump administration. This information comes from CNBC's analysis of his annual financial disclosure. The largest portion of this income was a $192 million distribution from Cantor Fitzgerald, a global financial services firm where Lutnick served as leader for decades. This payment was categorized as a tax distribution, made in accordance with an ethics agreement Lutnick signed before taking office. Additionally, the disclosure detailed $4.2 million in salary and bonus from Newmark, a commercial real estate services company, and $19.6 million from an exchange of Newmark partnership units. He also received $14.1 million in salary and bonus from BGC Group, a global financial brokerage and technology firm he chaired, along with over $5 million from BGC restricted stock units. The 74-page filing, obtained by CNBC from the Office of Government Et...
