Howard Lutnick sells $ 361 million to comply with the rules of the US government

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Donald Trump’s Minister of Trade Huard Lootnick will sell stakes in two companies publicly listed for $ 361 million to comply with the rules of government ethics.

The companies said on Monday that the Wall Street campaign and Trump investor will sell his shares in BGC and NewMark for $ 234 million and 127 million dollars, respectively. Separately, Lootnick He also transferred his ownership in Cantor Fitzgerald to confidence funds for his children, to be controlled by his son Brandon Lottenick.

Wall Street executives who join government ranks are often required to strip or put in confidence to avoid conflicts of interest. The rules allow for such sales be set without any immediate taxes on the gains in order to attract the best talents without punishing them to liquidate assets.

According to the deal announced on Monday, the New York -based BGC broker purchases the Lutnick’s Class A shares, and Cantor Fitzgerarald buys its Class B.

This step works to unify Cantor Fitzgerald in the hands of Brandon Lottennik, who was appointed as head of the holding company in February after his father as Minister of Trade confirmed. Brandon Lottennik Kyle Lottennik’s brother, who won the title of Executive Vice President, is a major player in the company’s future.

Brandon Lutenik, 27, comes out as an emerging power in Wall Street under the leadership of President Trump. He recently partnership with SoftBank, Tether and BitFinex on Cheeque, which focuses on Bitcoin aimed at benefiting from the revival of encryption under the new administration.

As part of the driving transmission, Cantor was organized by Pascal Bandelier, Sage Kelly and Christian Wall as involved executives of the Investment Bank. In December, the company rented Mike Whitaker from City as CEO of Operations, who worked closely with financial director Danny Salinas and Stephen Merkel, General Adviser.

On Monday, Cantor also said that 26north, a capital company led by the co -founder of Apollo Josh Harris, and Jalin August, founder of OAK Hill Advisors, have become minority investors. “As we enter the next chapter of our company’s journey, support for these world -class investors confirms confidence in the management team and our growth strategy,” said Brandon Lottennik.

Howard Lottennik, Trump’s long time, played a major role in forming the president’s commercial agenda, including negotiating new tariff agreements with China and the European Union.

He was also considered to the US Treasury Secretary and was among the best fundraising in Trump 2024, who personally donates more than $ 10 million and helps to raise about $ 75 million in general.

Other wealthy individuals used the same mechanism to sell stocks, which reduces conflict of interests, but also avoids millions of dollars of taxes.

Hank Polson sold nearly $ 500 million from Goldman Sachs in 2006 after he became the Treasury Secretary during the era of President George W. Bush. To take advantage of the scheme, the gains must be placed in US Treasury bonds or a wide shared box. The taxes are finally due if these investments are sold later.