Howard Lutnick

Secretary of Commerce

Department of Commerce

Who Does This Official Serve?

Industry Insider

Prior Industry: Cantor Fitzgerald / BGC Group (Wall Street)

Wall Street billionaire and CEO of major financial firms. Simultaneously chaired Trump transition team while being nominated — directly selecting the administration he would serve in.

Appointed

January 20, 2025

1 year, 2 months in office

Confirmation Vote

53-46

Conflict Risk

High

(24 pts)

3 conflicts identified

Estimated Net Worth

$1.5 billion

🔄Revolving Door Analysis

Industry Insider

Prior Industry: Cantor Fitzgerald / BGC Group (Wall Street)

Wall Street billionaire and CEO of major financial firms. Simultaneously chaired Trump transition team while being nominated — directly selecting the administration he would serve in.

⚠️ Conflicts of Interest (3)

conflict(1)

Critical

Led Trump transition while being nominated for cabinet position

💰 Financial(1)

High

Extensive Wall Street and financial industry ties

🏢 Corporate(1)

High

Cantor Fitzgerald business interests overlap with Commerce Department policies

Career Path

🔄 Revolving Door

Direct revolving doorLobbying / Media backgroundCareer public servant

CEO

Cantor Fitzgerald

1991-present

Wall Street billionaire and CEO of major financial firms. Simultaneously chaired Trump transition team while being nominated — directly selecting the administration he would serve in.

CEO

BGC Group

1999-present

Chair

Trump 2024 Transition Team

2024-2025

Now Serving As

Secretary of Commerce

Department of Commerce

2025–Present

Policy Positions

Tariffs

Strong supporter of Trump tariff policies

China

Hawkish on trade and competition

Cryptocurrency

Advocate for crypto-friendly policies

Regulation

Pro-business deregulation

💰 Agency Budget — FY2026

Source: USASpending.gov

$50.2B

Budget Authority

$4.7B

Obligated

0.4%

of Federal Budget

Department of Commerce0.38% of total

Top Contract Awards (FY2023–2026)

L3HARRIS TECHNOLOGIES, INC.

THE PURPOSE OF THIS CONTRACT IS TO DEVELOP THE GROUND SYSTEM THAT WILL SUPPORT NOAA S NEXT GENERATION GEOSTATIONARY SATELLITE SERIES, GOES-R. THIS NEW SERIES OF SPACECRAFT, SET TO BEGIN LAUNCHING IN 2015, IS EXPECTED TO DOUBLE THE CLARITY OF TODAY S SATELLITE IMAGERY AND PROVIDE AT LEAST 20 TIMES MORE ATMOSPHERIC OBSERVATIONS FROM SPACE. THE CONTRACTOR IS TO DESIGN, DEVELOP, TEST AND IMPLEMENT THE GOES-R GROUND SYSTEM. THE GROUND SYSTEM WILL CAPTURE DATA FROM THE GOES-R SATELLITES, AND PROCESS AND DISTRIBUTE THE INFORMATION TO OPERATIONAL USERS.

$1.8B

T-REX SOLUTIONS LLC

ENTERPRISE SOLUTIONS FRAMEWORK (ESF) FOR MULTI-TIERED ACQUISITION FRAMEWORK FOR SYSTEMS ENGINEERING AND INTEGRATION - PROGRAM TIER WORK ORDER 003 - 2020 CENSUS TECHNICAL INTEGRATOR

$1.5B

MAXIMUS FEDERAL SERVICES, INC.

2020 CENSUS QUESTIONNAIRE ASSISTANCE (2020 CQA)

$918M

About Department of Commerce

The Department of Commerce promotes economic growth, job creation, international trade, and technological innovation.

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