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According to the latest annual integrity declaration, US Secretary of Commerce Howard Lutnick disclosed revenue of at least US$250 million last year, mostly from his previous shareholding in Cantor Fitzgerald. According to filing documents, Lutnick resigned as a leader of Cantor and hundreds of organizations last year, mainly in February, the month he took the oath of office. He received at least $190 million in dividends from Cantor Fitzgerald before withdrawing from related interests. The financial services business is now run by his two eldest sons. As of December of last year, the total assets disclosed in Lutnick's latest declaration were at least US$237 million, down from the lowest asset size of US$805 million in the previous declaration. The federal integrity declaration only gives a range of asset values; the actual total value of his assets is likely to be much higher than this value. Although Lutnick has left most of his previous commercial positions, he is still the head of around 40 companies, the vast majority of which are limited liability companies. Many limited liability companies are named after his trust assets or personal property.
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According to the latest annual integrity declaration, US Secretary of Commerce Howard Lutnick disclosed revenue of at least US$250 million last year, mostly from his previous shareholding in Cantor Fitzgerald. According to filing documents, Lutnick resigned as a leader of Cantor and hundreds of organizations last year, mainly in February, the month he took the oath of office. He received at least $190 million in dividends from Cantor Fitzgerald before withdrawing from related interests. The financial services business is now run by his two eldest sons. As of December of last year, the total assets disclosed in Lutnick's latest declaration were at least US$237 million, down from the lowest asset size of US$805 million in the previous declaration. The federal integrity declaration only gives a range of asset values; the actual total value of his assets is likely to be much higher than this value. Although Lutnick has left most of his previous commercial positions, he is still the head of around 40 companies, the vast majority of which are limited liability companies. Many limited liability companies are named after his trust assets or personal property.
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