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  • U.S. President-elect Donald Trump.

    U.S. President-elect Donald Trump. | Photo: Reuters

Published 4 December 2016
Opinion

The U.S. President-elect has surrounded himself with billionaires and millionaires, prompting much worry from working-class America.

U.S. President-elect Donald Trump’s cabinet is filled with millionaires, whose accumulated wealth reaches more than $35 billion, and that’s not counting Trump’s own riches, according to Portal Politico.

That’s more than the Gross Domestic Product of both Paraguay and of El Salvador, which reached just over 27 and 25 billion dollars in 2015, respectively, according to World Bank figures. This would make his administration the wealthiest in modern history, The Guardian reported.

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Among the wealthy cabinet members is Todd Ricketts, who has been appointed Deputy Secretary of Commerce and who owns a fortune of more than $5 billion. Secreaty of Education Betsy DeVos also enjoys a wealth of more than $5 billion. The Treasury Secretary, Steven Mnuchin’s wealth reaches more than $46 million. He is also known to have links with Goldman Sachs and many other connections on Wall Street.

All other appointees are members of the one per cent – “billionaires and millionaires, investment bankers and venture capitalists, Wall Street insiders and family fortune heirs, many educated at elite schools,” according to The Guardian.

“It is a throwback to the ‘greed is good’ mentality,” Marge Baker, executive vice-president of the liberal pressure group People For the American Way told The Guardian. “It’s also alarming that the president-elect said he believes what’s good for his business is good for America. That’s not how you want the leader of your country to be making decisions.”

Apart from an inflammatory anti-immigration rhetoric, Trump has also run on promises of tax-cuts, deregulation and trickle-down economics.

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