US President with the wealthiest cabinet
- Who
- President George W. Bush
- What
- 13 people
- Where
- United States
- When
- 2001
George W. Bush (inaugurated as the 43rd president of the United States on 20 January 2001) has assembled the wealthiest cabinet in American history, appointing 13 multi-millionaires to the top rank of his administration - more than any of his predecessors.
Of the 16 full cabinet members at the heart of the Bush administration, 13 have assets worth at least US$1 million (£700,000), seven of which own more than US$10 million ( £7million), -- hence acquiring the nickname" tycoon's club."
Mr Bush's count of multi-millionaires dwarfs the six appointed by his father, former president George Bush, and the seven who served under Ronald Reagan.
The total wealth of the top rung of President Bush's administration - excluding Mr Bush himself and the Vice-President Dick Cheney - is at least $US186 million (£131 million), according to analysis of reports supplied by the Office of Government Ethics. This makes the average wealth of each member of Mr Bush's cabinet $US10.9million (£7.68 million) , and has attracted sharp criticism considering his appointees are uniformly wealthier than most Americans.
Defence Secretary Donald Rumsfeld and Treasury Secretary Paul O'Neill each have declared assets of at least $US61million (£42.9 million), while Secretary of State Colin Powell has at least $US18.5million (£13 million).
The pauper among the cabinet members is the agriculture secretary, Ann Veneman, whose net worth is valued at a mere US$680,000 (£479,000). Subsequently, supervisory groups in Washington, DC are concerned regarding possible conflicts of interest between the Bush administration and corporate America.
Mr Bush's count of multi-millionaires dwarfs the six appointed by his father, former president George Bush, and the seven who served under Ronald Reagan.
The total wealth of the top rung of President Bush's administration - excluding Mr Bush himself and the Vice-President Dick Cheney - is at least $US186 million (£131 million), according to analysis of reports supplied by the Office of Government Ethics. This makes the average wealth of each member of Mr Bush's cabinet $US10.9million (£7.68 million) , and has attracted sharp criticism considering his appointees are uniformly wealthier than most Americans.
Defence Secretary Donald Rumsfeld and Treasury Secretary Paul O'Neill each have declared assets of at least $US61million (£42.9 million), while Secretary of State Colin Powell has at least $US18.5million (£13 million).
The pauper among the cabinet members is the agriculture secretary, Ann Veneman, whose net worth is valued at a mere US$680,000 (£479,000). Subsequently, supervisory groups in Washington, DC are concerned regarding possible conflicts of interest between the Bush administration and corporate America.