US EditionHoward Lutnick Sells $361mn Stakes to Comply with US Government Rules
- On May 19, 2025, Commerce Secretary Howard Lutnick transferred his ownership interests in Cantor Fitzgerald and related companies into trusts established for the benefit of his adult children and certain investors.
- Lutnick made this move to comply with a U.S. Government ethics agreement requiring officials with financial ties to divest holdings that could affect their independence.
- He sold $151.5 million worth of shares in BGC Group and $127 million in Newmark Group, while transferring his Cantor Fitzgerald stake into trusts overseen by his son Brandon Lutnick, who serves as CEO and chairman.
- Brandon Lutnick expressed pride in carrying forward their father’s vision by guiding Cantor Fitzgerald with the support of the highly skilled executive team currently in place.
- The divestment fulfills federal ethics rules, enabling Lutnick to avoid conflicts of interest while stepping back from the financial empire he led for over three decades.
17 Articles
17 Articles
Lutnick divests stake in Cantor Fitzgerald to children and outside investors
US Commerce Secretary Howard Lutnick sold his stakes in the Wall Street business group he ran for more than three decades, passing ownership to his children and private outside investors and cashing out at least hundreds of millions of dollars.
Howard Lutnick Divests From Businesses
Commerce Secretary Howard Lutnick is divesting from his businesses. He's transferred his ownership of Cantor Fitzgerald, the brokerage and investment bank he ran for more than 30 years, to trusts benefiting his adult children, the Wall Street Journal and Bloomberg report. His two eldest sons had already been named chairman...
US Commerce Secretary Divests From Cantor Fitzgerald
Commerce Secretary Howard Lutnick has divested his longstanding ownership in Cantor Fitzgerald, transferring control to his children and a select group of private investors, in a move that fulfils federal ethics requirements. The transactions, completed this past week and announced by Cantor Fitzgerald on May 19, come as Lutnick steps away from the Wall Street empire he led for more than three decades. Ownership of Cantor Fitzgerald has now been…
Trump official rakes in $150M tax-free with 'ethics agreement': report
President Donald Trump's commerce secretary Howard Lutnick is emulating his boss by transferring away "his ownership interests in multiple affiliated companies" to trusts that will benefit his adult children, The Wall Street Journal reported Monday.Lutnick, a billionaire, served as chairman and chie...
Howard Lutnick: US Secretary of Commerce Sells Shares Worth More than 360 Million US Dollars
U.S. Trade Secretary Howard Lutnick has announced that he will sell shares for hundreds of millions of dollars to comply with the US government's ethics rules. He won't have to pay taxes on the profits.
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