Famous Wall Street figures
Howard Lutnick is a well-known Wall Street figure and is the former CEO of Cantor Fitzgerald. Over the past two years, he has a large financial portfolio, owned more than 800 businesses and earned over $350 million. It is worth noting that he shares in the Greenland mining industry through Cantor Fitzgerald’s link to key metals, a region of interest to Trump, who previously suggested buying Greenland.
9/11 Survivor
Lutnick gained national recognition after the September 11 attacks, with Cantor Fitzgerald losing 658 employees, including his brother. He led the company’s rehabilitation and remains a member of the National September 11 Memorial and Museum’s Board of Directors. Trump acknowledged Lutnik’s resilience, calling him “an embodiment of perseverance in the face of tragedy.”
Tariff position
During the confirmation hearing, Lutnick used tariffs as a tool of “reciprocity, fairness and respect” and dismissed concerns about its inflationary impact. He also vowed to limit exports of sensitive technologies to rivals such as China and Russia. “We need to stop helping them,” he said.
In addition to trade, Lutnick will manage important economic plans, including a $53 billion semiconductor manufacturing plan under the 2022 CHIPS and Science Act. In referring to funds as “excellent down payments,” he recommends reviewing investment allocations. He will also oversee efforts to expand broadband access to more than 6.25 million households.
Support cryptocurrencies and Trump’s crypto policy
Lutnick is a strong supporter of cryptocurrencies, especially Bitcoin and tethers. At a recent Bitcoin conference, he argued: “Bitcoin should be trading gold around the world without exception without restrictions.” Trump has accepted cryptocurrency, launched the world’s free finance platform, and accepted crypto donations from the 2024 campaign.
Musk’s choice
Lutnick is reportedly Elon Musk’s preferred choice for Treasury Secretary, who said: “Bassent is a unique option and @howardlutnick will actually enact changes.” Although Trump has not finalized his Treasury Secretary nomination, Lutnick’s confirmation as Commerce Secretary positioned him as the main figure in shaping U.S. economic policy.
