US Commerce Secretary Howard Lutnick reported at least $250 million in income and other proceeds in 2025, his first year in government, according to a newly released 74-page financial disclosure filed with the Office of Government Ethics. The biggest amount was a $192 million tax distribution from Cantor Fitzgerald, the firm he led for decades. His other reported income included $19.6 million from a Newmark partnership unit exchange, $14.1 million in salary and bonuses from BGC Group, and more than $5 million from BGC restricted stock units. Lutnick also sold at least $259 million worth of assets and bought at least $166 million, primarily in Treasury securities and broad-market funds. He remains among the wealthiest members of President Donald Trump's Cabinet.
When Howard Lutnick made $300 million in profit
When he was just 22, Howard Lutnick kicked off his career at Cantor Fitzgerald and just in five years, he had helped the company make about $300 million in profits, according to eFinancialCareers. The $300 million profit was reportedly made in three major deals, earning around $100 million for the firm from each one. Howard Lutnick's success helped him rise quickly through the company, and rising through the ranks he became the CEO of Cantor Fitzgerald at the age of 29.
Lutnick's connection with Cantor Fitzgerald began through a family friend after both of his parents died from cancer. Cantor Fitzgerald founder Bernie Cantor took an interest in the young Lutnick and hired him. His career was later shaped by the September 11, 2001, attacks, when Cantor Fitzgerald lost 685 employees, including Lutnick's brother. Lutnick subsequently rebuilt the company and remained its leader for decades. By 2024, Lutnick was estimated to be a billionaire and owned a significant stake in Cantor Fitzgerald. The former Wall Street executive stepped down from his leadership positions at Cantor Fitzgerald, BGC Group, Newmark and hundreds of other organisations after being confirmed as Commerce secretary in February 2025. Cantor Fitzgerald is now run by his two eldest sons.
