Trump’s Commerce Secretary Nominee, Billionaire Howard Lutnick, Vows to Sell His Business Interests in 90 Days

WASHINGTON – Billionaire financier Howard Lutnick, President Donald Trump’s choice to lead the Commerce Department, announced on Wednesday that he would divest from all his business holdings within 90 days.

“I will divest, I will sell all of my interests, my business interests, all of my assets, everything,” Lutnick said during a confirmation hearing before the Senate Committee on Commerce, Science, and Transportation. “I made the decision I’ve made enough money in my life.”

Introduced by Vice President JD Vance, who described him as “just a good dude,” Lutnick is a vocal supporter of Trump’s hardline trade policies, particularly tariffs. He has backed Trump’s proposed 25% import tax on Canada and Mexico, as well as the potential new tariffs on China.

Lutnick’s name had been floated for Treasury secretary, but Trump ultimately chose Scott Bessent. Lutnick, a prominent figure in the financial world, has also been involved in cryptocurrency. Last year, he launched World Liberty Financial, a cryptocurrency platform.

In addition to his business ventures, Lutnick, who is Jewish, has been a philanthropist. He has donated tens of millions of dollars to charity over the years, including a recent $7 million contribution to United Hatzalah of Israel.

As Commerce Secretary, Lutnick will oversee the department’s various functions, including trade policy, economic statistics, and support for industries like computer chips. He will work alongside Trump’s nominee for U.S. Trade Representative, Jamieson Greer, to implement the president’s tariff policies.