TRUMP PICKS INVESTOR BILLIONAIRE FEINBERG AS DEPUTY SECRETARY OF DEFENSE NOMINEE
Donald Trump’s second term is fast approaching as he continues to build his cabinet. An interesting round of staffing has now been announced, though nothing is official without being confirmed by the Senate. Billionaire investor Stephen “Steve” Feinberg has been nominated for the role of Deputy Secretary of Defense, among other nominations involving the U.S. Department of Defense (DoD).
Steve Feinberg Chosen as Deputy Secretary of Defense
President-elect Donald Trump has selected Stephen Feinberg for his Deputy Secretary of Defense, among others who will serve within The Pentagon.
Feinberg is a billionaire who is best known for co-founding his global investment and private equity firm Cerberus Capital Management, where he is also a CEO and chief investment officer.
While he has a net worth of around $5 billion, Feinberg doesn’t have experience in defense or serving in the military. However, he has been on the President’s Intelligence Advisory Board before.
The Role of the Deputy Secretary of Defense
If confirmed by the Senate, Feinberg will play a pivotal role in modernizing the U.S. military, while also influencing policy for the future of the American Armed Forces.
The Deputy Defense Secretary traditionally oversees the DoD's operations and shapes major resource and policy decisions, as seen recently during the Biden administration, where Kathleen Hicks and the Replicator Initiative have helped fast-track advanced drones and autonomous systems.
Stephen Feinberg Has Invested in Defense Department Contractors
While Steve Feinberg isn’t a Veteran or experienced in the world of defense, he has been involved through investing in DoD contractors.
This includes businesses tied to our nation’s efforts to develop hypersonic capabilities, like the newly formed entity North Wind.
Feinberg managed capital by working at multiple investment firms before co-founding Cerberus and has decades of experience within the financial industry.
Additional Business Executives Joining the Trump Administration
Adding people with business backgrounds that he trusts is a constant with Donald Trump who also selected Patrick Shanahan for the role of Deputy Secretary of Defense during his first term.
Though to be fair, Shanahan was an executive of Boeing, which is one of the largest defense contractors in the world.
In addition to nominating Steve Feinberg, Trump has also added a list of intriguing names to his growing nomination list, including:
- Michael Duffey as the Undersecretary of Defense for Acquisition and Sustainment to lead weapons procurement for The Pentagon. Duffey is experienced with national security and budgeting along with previous work for The Pentagon.
- Emil Michael is nominated for the Undersecretary of Defense for Research and Engineering to help with improving technology, implementing AI, improving renewable energy, etc.
- Elbridge “Bridge” Colby has vast experience working for the DoD and is nominated for the role of Undersecretary of Defense for Policy, which will focus on geopolitical threats to American interests.
- Keith Bass would serve as the Assistant Secretary of Defense for Health Affairs to integrate innovation and technology for military healthcare.
- Finally, Joe Kasper has been nominated to serve as the nation’s Chief of Staff for the Secretary of Defense, overseeing and affecting policy within the DoD.
The New Deputy Secretary of Defense Has Plenty to Tackle
As Trump’s cabinet heads and deputies come together, the challenges still remain on multiple fronts for the U.S. military, including multiple wars, recruitment and retention concerns, budgeting, and improving the technology and systems warfighters have available.
How much Steve Feinberg gets done will depend on if he’s confirmed by the Senate and kept by Trump who is known for staffing turnover in the past. However, Feinberg has deep ties to the President-elect, was expected to be a favorite for the role, and should fit within the administration just fine.
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