This appeared a day or so ago:
The billionaires in charge of Trump’s White House
His first
term was heavily reliant on the party establishment. The inner circle now
includes billionaires and is in tune with the ideas of the new right.
Alex
Rogers and James Politi
Updated Nov
10, 2024 – 9.13am, first published at 8.27am
Nibbling on
crabs, sushi and sugar cookies, some of the richest and the soon-to-be most
powerful people in the world waited for the election results last week at
Mar-a-Lago, Donald Trump’s gilded fortress on the sea.
At one of the
tables, Trump sat with Elon
Musk, the billionaire technology executive, and Dana White, chief executive
of the Ultimate Fighting Championship.
Hours before
the final outcome was established, Musk decided to call the whole race. “Game,
set and match,” he posted on X, the platform he owns, to his 200 million
followers, at 10.32pm.
The next day,
after it was confirmed that the Republican had defeated Kamala Harris, Trump
and Musk ate together on the terrace of the resort, with Musk wearing a T-shirt
of astronauts walking on the moon with Mars in the distance.
“Novus Ordo
Seclorum,” Musk wrote on X, the Latin expression for “a new era is born”.
Amid the
jubilant scenes at Mar-a-Lago, there were plenty of signs about how a second
Trump presidency might be different from the first one — and, in particular,
just how changed his new inner circle will be.
The 78-year-old
Republican appears to be even more influenced by his billionaire donors and
allies than he was during his first term in office — particularly Musk. He is
also more willing to embrace the ideology of the politically ascendant new
American right, and more determined to press ahead with his aggressive agenda
from his very first day in office.
Eight
years ago, Trump was forced to lean on the Republican establishment for
counsel: this time, the group of individuals who have his ear are largely MAGA
loyalists, ranging from his vice-president-elect J.D. Vance and his eldest son
Don Jr to a circle of wealthy allies pitching for plum jobs in the
administration.
On Thursday
(Friday AEDT), Trump made his first big personnel announcement, tapping Susie
Wiles, his top campaign strategist and a longtime political operative in
Florida, to be the next White House chief of staff.
It marks the
opening move in what is expected to be a flurry of personnel announcements over
the coming week that will reveal Trump’s team, including his cabinet, as he
prepares to move back into the White House on January 20.
Trump’s goal
will be to quickly implement policies ranging from the mass deportation of
undocumented immigrants to sweeping tax cuts and across-the-board tariffs on
imports that he promised on the campaign trail, along with exacting retribution
against his political opponents.
At this stage
in 2016, after defeating Hillary Clinton, many in Trump’s entourage were
political novices who were unprepared for the task of building a new
government. Trump eventually turned to his then vice-president-elect, Mike
Pence — a former governor and member of Congress with deep roots in the
Republican Party — to run his transition operation.
He also
tapped Reince Priebus to be chief of staff, Steven Mnuchin as treasury
secretary and Rex Tillerson for secretary of state — all figures who were
palatable to traditional business groups and the national security apparatus,
but whom he did not know particularly well.
Trump has
come to regret those choices for restraining the populist agenda he really
wanted to pursue and has been desperate to avoid that scenario again.
“It was a
free-for-all. Nobody expected Trump to win,” says John Feehery, Republican
former congressional aide now at EFB Advocacy, a consultancy, about the
aftermath of the 2016 election.
“People are
now understanding that instead of pursuing their own visions, they’re trying to
pursue Trump’s vision.”
It is not
unusual for chief executives and business leaders to have close access to
politicians, especially during a campaign, but Musk’s proximity to Trump has
been especially remarkable — and a sign that the next administration may have a
distinctively plutocratic element to it.
Musk publicly
endorsed Trump, bankrolled a Super Pac that spent $US172 million ($261 million)
on the 2024 election, hosted him on X for a lengthy conversation, and canvassed
the crucial state of Pennsylvania, which ended up flipping to Trump.
In return,
Trump has said he will appoint the Tesla and SpaceX chief to a commission that
will roll back regulations and drastically cut government spending. Musk has
said the election is crucial for his vision of colonising Mars.
“He actually
helped Trump get elected. He got his fingernails dirty and got it done,” says
Feehery. “The level of his work . . . gives him tons of loyalty from Trump.”
Their
alliance carries big risks in terms of potential conflicts of interest, which
Trump allies deny, as well as potential disagreements down the line over
policy. But, for now, it seems to be suiting both men.
There are
other top executives in Trump’s new orbit. Two billionaires are chairing his
transition team. Personnel is being led by Howard Lutnick, the long-standing
boss of Cantor Fitzgerald, the financial services firm that lost hundreds of
employees in the September 11 attack on the World Trade Center. Lutnick is an
old friend of Trump and even once appeared on The Apprentice.
The
transition’s policy programme is being led by Linda McMahon, the former chief
executive of World Wrestling Entertainment who is also chair of the America
First Policy Institute, a think-tank that has been trying to develop an agenda
to support Trump’s ideas.
Both are
considered potential cabinet picks — Lutnick for treasury and McMahon for
commerce — after writing multimillion dollar cheques to the campaign. But other
top billionaires in the inner circle are also angling: hedge fund managers John
Paulson and Scott Bessent, who was in Palm Beach wearing a pro-Trump pin on his
lapel this week, are also in contention for Treasury.
The Trump
family will remain influential in the new administration, but this time
with a more MAGA flavour.
In 2016,
Trump’s daughter Ivanka and her husband Jared Kushner took on senior White
House positions. Kushner, who was a Democrat when he was younger, was
considered by some foreign governments to be one of the more pragmatic people
to deal with amid the chaos of the first Trump term. But neither Ivanka Trump
nor Kushner are expected to join this administration.
Now we know
who the real players are, the people who will actually deliver on the
president’s message, the people who don’t think that they know better
The most
influential family member this year has been Donald Trump Jr, the 46-year-old
eldest child. He played an important role in persuading his father to back
Vance, the Ohio senator, to be his running mate, and he was one of the voices
pushing for Trump to engage more with podcasts popular among young men.
Trump Jr also
helped build the campaign’s relationship with Robert F. Kennedy Jr — the scion
of the Democrats’ most famous family who was at one stage running a third-party
bid for the presidency, before swinging behind Trump. During the campaign,
donors got the chance to win a day of falconry together with the two men. “A
true Renaissance man,” Trump Jr described Kennedy.
“He got his
fingernails dirty and got it done. The level of his work . . . gives him tons
of loyalty from Trump.”
— John
Feehery, Republican former congressional aide, on Elon Musk
Trump Jr has
not always appeared to be his father’s favourite. But more than any other
family member, he has been an energetic champion of the new right, including on
his own podcast.
Although he
appears to have little appetite for taking a formal position in the
administration, he intends to play an important role in the transition,
policing potential appointments for their loyalty. Before the election, he
talked about the need to create a “MAGA bench” of potential officials and
keeping “bad actors” out of the administration, as he believes happened in
2016.
“Now we know
who the real players are, the people who will actually deliver on the
president’s message, the people who don’t think that they know better than the
duly elected president of the United States,” he told Fox and Friends this
week. “I want to make sure that those people are in this administration.”
Vance, 40,
will also play an influential role in setting the direction of the White
House. As the youngest vice-president since Richard Nixon served in the role
seven decades ago, he is in prime position to shape the future of the
Republican Party.
He has risen
from poverty to become a senator, picking up along the way a Yale Law School
diploma, four years in the Marines, Silicon Valley venture capitalist
experience under Peter Thiel and a best-selling book, Hillbilly Elegy.
He has also helped overturn the GOP’s old country club image.
“We won’t
cater to Wall Street. We’ll commit to the working man,” Vance said at the
Republican Party’s convention this northern summer.
A person
close to Vance said that tech and immigration were two core policy interests;
he told the Financial Times in August that Google “ought to be broken
up”, but Trump later questioned whether that would be going too far.
According to
Oren Cass, chief economist at the think-tank American Compass and also an FT
contributing editor, “Vance has been an integral leader within the new right
since its formative stages.”
In August,
Trump added Kennedy and Tulsi Gabbard — another Democrat turned Trump supporter
— to his transition team. Both were at Mar-a-Lago this week, but it was unclear
what kind of role they would get. Kennedy is in “meeting after meeting after
meeting. And he dislikes meetings,” says a person close to the Trump campaign.
But Kennedy
has been speaking to reporters about potential roles in the new administration
in the areas of health and science, vowing to review research on vaccines and
calling for the elimination of fluoride from drinking water.
Many of the
candidates for top jobs have been present in Palm Beach this week. North Dakota
Governor Doug Burgum, a potential pick for energy secretary, was standing right
in front of the stage at the victory rally on election night, while former
acting national intelligence director Ric Grenell and Tennessee Senator Bill
Hagerty — rumoured as top State Department picks — were also spotted around
town.
Amid the
speculation, there is little tolerance for anyone who criticised Trump in the
past. Trump adviser Tim Murtaugh says former staffers who turned against Trump
are “trying to figure out how to pivot for their own professional betterment”.
He adds: “We’re all aware of who those people are.”
Even the
wealthiest Palm Beach locals worry about the impact of all the well-to-do
people coming to pitch for positions.
Thomas
Peterffy, the billionaire chair of Interactive Brokers and a Trump donor, who
lives two minutes from Mar-a-Lago, laments that his neighbour’s victory will
increase road closures on the island.
“I remember,
eight years ago, after he got elected, people kept coming and going because he
was constantly interviewing people for ambassadorships and various cabinet
positions,” says Peterffy. “So, this traffic jam is going to go on for a
while.”
Financial
Times
Here is the link:
https://www.afr.com/world/north-america/the-maga-court-inside-trump-s-new-white-house-20241110-p5kpbe
FWIW I believe the return of Trump
to the presidency is a very bad thing and I do not believe any significant good
will come of it at all.
Trump is a misogynistic arrogant
jerk with virtually no re-deeming character attributes IMVHO and I am pretty
concerned where he may lead the world.
As there is zilch I can do about it,
I will just leave it at that – other than to worry that JD Vance – the VP – is hardly
much of an improvement if at all. We face a dangerous four years I reckon.
Great work by the FT in this article by the way!
Back in my hole now!
David.