Commerce Secretary Lutnick reports $250 million in 2025 income

Investing.com -- Commerce Secretary Howard Lutnick reported at least $250 million in income and other proceeds last year, according to calculations from his newly released 2025 annual financial disclosure.

The largest portion was a $192 million distribution from Cantor Fitzgerald, the global financial services firm Lutnick led for decades. His annual financial disclosure describes the payment as a tax distribution handled under the ethics agreement he signed before taking office.

The 74-page filing from the Office of Government Ethics provides the fullest accounting of Lutnick's finances during his first year in government. Federal financial disclosures report many assets in broad ranges, so the filing does not provide a precise estimate of his wealth.

Lutnick remains one of the wealthiest members of Trump's cabinet. The president earned more than $2 billion last year.

Lutnick disclosed $4.2 million in salary and bonus from commercial real estate services firm Newmark and $19.6 million from an exchange of Newmark partnership units. He received $14.1 million in salary and bonus from BGC Group, the global financial brokerage and technology company he chaired, and more than $5 million from BGC restricted stock units.

The former Wall Street executive stepped down from leadership roles at Cantor, BGC, Newmark and hundreds of other organizations after his confirmation as commerce secretary in February 2025. Cantor is now run by his two oldest sons.

Lutnick reported selling at least $259 million in assets during the year. The transactions included stakes worth more than $50 million each in Newmark, BGC, Cantor Fitzgerald and CF Group Management.

He reported at least $166 million in purchases, largely in Treasury and broad-market funds. He bought more than $50 million of an S&P 500 exchange-traded fund and made two separate purchases of more than $50 million in a Fidelity Treasury fund.

Lutnick still listed roughly 40 outside positions as ongoing, largely involving trusts, property companies and other LLCs.

Original Article

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