CNBC obtained Lutnick's 74-page 2025 annual financial disclosure from the Office of Government Ethics and tallied the totals. The document shows no less than $250 million of income plus other proceeds during his first year in government, providing the most detailed view yet of his finances. Because federal filings present many holdings in wide bands, the report does not pin down a precise net worth. He remains among the wealthiest members of Trump's cabinet, yet it pales compared with the president's report of earning more than $2 billion last year.
A single $192 million payment from Cantor Fitzgerald led the list. In the filing, it is characterized as a tax distribution carried out under the ethics agreement he entered into prior to taking the job. In addition, Lutnick listed $4.2 million from Newmark as salary and bonus, along with $19.6 million related to swapping Newmark partnership units. From BGC Group, he listed $14.1 million in salary and bonus and more than $5 million from restricted stock units.
Following his February 2025 confirmation, Lutnick relinquished leadership roles at Cantor, BGC and Newmark, as well as at hundreds of additional entities. Cantor is now overseen by his two oldest sons. As he unwound those ties, CNBC's calculations show he reported selling at least $259 million of assets, among them holdings in Newmark, BGC, Cantor Fitzgerald, and CF Group Management, each worth over $50 million.
On the buy side, he logged at least $166 million in purchases, concentrating on Treasuries and broad-based funds. That included more than $50 million in an S&P 500 exchange-traded fund and two separate buys exceeding $50 million each in a Fidelity Treasury fund. Even after departing hundreds of posts, he still lists roughly 40 ongoing outside positions, largely involving trusts, real estate entities and other LLCs.
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The pattern is clear: selling big chunks of closely held business stakes, then parking sizable sums in Treasuries and a broad market tracker. For anyone watching from the sidelines, it is a reminder of how high earners often manage liquidity and diversify when their day jobs change. It also underscores that even among wealthy officials, there is a wide gap at the very top.
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