"This Trump administration is just chocked full of billionaires, millionaires, and lobbyists," Craig Holman, a lobbyist for government watchdog Public Citizen, recently told Business Insider.
Trump tapped private equity billionaire Stephen Feinberg to become his second-highest-ranking official at the Pentagon. Feinberg's firm, Cerberus Capital Management, has significant interests in military defense contractors.
Earlier this year, Cerberus acquired a controlling interest in M1 Support Services, an aircraft maintenance contractor. In fiscal year 2024 alone, M1 has been awarded over $630.7 million in federal contracts.
Musk has an even wider portfolio of responsibilities. Unlike Feinberg, the Tesla CEO is set to remain outside the Trump administration - meaning the world's richest man will retain significant influence.
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