Who Got Gifts From Trump’s White House Entourage

Donald’s secret Santas each have their own style of giving.
 

Donald Trump’s White House entourage will have a combined net worth of about $6 billion. That means the president-elect—whose own charity said this year it broke rules barring leaders from using funds to benefit themselves—isn’t the only one on his team with a foundation.

 
The “Staying in the In Crowd” Giver

Mnuchin
Photograph: Bloomberg

Steven Mnuchin
Nominated for: Secretary of the Treasury
Net worth: $655 million
The Steven & Heather Mnuchin Foundation: $5.2 million in assets

In 2014, Mnuchin and his then-wife’s foundation gave $50,000 to the Los Angeles Ballet and $75,000 to the Museum of Contemporary Art, Los Angeles (the couple divorced that year, and the foundation hasn’t filed a report for 2015). Mnuchin, who moved from New York to Los Angeles around 2009, isn’t one to forget his friends back East. He also gave $25,000 to the Foundation for Ethnic Understanding, led by Rabbi Marc Schneier and rap mogul Russell Simmons.

 

 

The “As Long as You Give Some Back” Giver

DeVos

Betsy DeVos
Nominated for: Secretary of Education
Net worth: $130 million
The Dick & Betsy DeVos Family Foundation: $62.1 million in assets

In addition to financial gifts, the DeVos foundation also makes low- or no-interest loans, often in the millions of dollars. In 2013 and 2014 it extended loans to a nonprofit founded by the DeVoses’ son Rick, ArtPrize Grand Rapids ($5 million, with some of the money repaid and some of it forgiven); Grand Action, a nonprofit for downtown Grand Rapids founded by Dick DeVos ($3.5 million, at a 1 percent interest rate); and the West Michigan Aviation Academy, which DeVos and her husband co-founded ($3 million).

 


The “Pillar of Midwestern Society” Giver

Pence

Karen Pence
Role: Incoming Second Lady
Net worth: At least $635,000
Indiana First Lady’s Charitable Foundation: $128,277 in assets

The foundation, which raises money from outside donors, made its largest gift this year, of $100,000, to the Indiana Bicentennial Commission’s Treasures of the Statehouse exhibition, a three-dimensional model of the building with interactive touchscreens. Pence also fed $500 to $1,000 to the General Van Rensselaer chapter of the Daughters of the American Revolution, Christ Child Society of Fort Wayne, and Lady’s N Charge, a club for female owners of Dodge Chargers.

 

The “Pro-Choice Wall Street” Giver

Cohn
Photograph: Getty Images

Gary Cohn
Named: Director of the National Economic Council
Net worth: $520 million
The Pevaroff Cohn Family Foundation: $20.2 million in assets

Of the 50 donations Cohn’s foundation made in its 2014 and 2015 fiscal years, only one went to an organization outside New York, Washington, D.C., or Palm Beach, Fla.: $1,000 to St. Jude Children’s Research Hospital in Memphis. In that time, he donated $71,310 to Congregation Rodeph Sholom, a Reform Jewish synagogue on Manhattan’s Upper West Side, as well as $2,500 to Naral Pro-Choice America and $5,000 to Planned Parenthood of New York City.

 

 

The “Smackdown” Giver

McMahon
Photograph: Getty Images

Linda McMahon
Nominated for: Administrator of the U.S. Small Business Administration
Net worth: $1.4 billion
Vince & Linda McMahon Family Foundation: $1.3 million in assets

World Wrestling Entertainment’s former chief executive officer has given to health and fitness nonprofits, including $250,000 to the Westport Weston Family YMCA and $100,000 to the Connecticut Basketball Club in 2015, $1 million to the Greenwich Hospital Foundation in 2014, and a total of $500,000 over those two years to SoldierSocks (now SoldierStrong), which donates bionic suits to paralyzed veterans. From 2007 to 2009, McMahon and her husband gave $5 million to Trump’s foundation.

 

Included in the Good Business Issue of Bloomberg Businessweek, Dec. 26, 2016-Jan. 8, 2017. Subscribe now.