Billionaires

Lutnick Lists 800 Firms in Complex Billionaire Ethics Filing

Cantor CEO says he’ll divest a swath of business stakes
He faces a US Senate confirmation hearing on Jan. 29

Howard Lutnick arrives at the 60th presidential inauguration in Washington on Jan. 20Photographer: Kenny Holston/The New York Times/Bloomberg

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By Todd Gillespie, Bill Allison, and Tom Maloney

January 24, 2025 at 4:32 PM UTC

Updated on

January 24, 2025 at 6:26 PM UTC

This article is for subscribers only.

Howard Lutnick, President Donald Trump’s nominee to lead the Commerce Department, detailed his wealth and influence across hundreds of firms and left open the possibility of his adult children buying his holdings if he wins confirmation.

Lutnick, chief executive officer of Wall Street investment bank and brokerage Cantor Fitzgerald LP, confirmed he’ll divest his interests in the three core firms that constitute his business group: Cantor Fitzgerald, brokerage BGC Group Inc. and property firm Newmark Group Inc. Documents released by the US Office of Government Ethics also show roles in at least 800 legal entities.