Commerce Secretary Howard Lutnick's family stands to profit significantly from the Supreme Court's decision striking down President Donald Trump's tariffs. LutnickCommerce Secretary Howard Lutnick's family stands to profit significantly from the Supreme Court's decision striking down President Donald Trump's tariffs. Lutnick
Commerce Secretary Lutnick's family set to profit from Supreme Court's ruling: report
Commerce Secretary Howard Lutnick's family stands to profit significantly from the Supreme Court's decision striking down President Donald Trump's tariffs. Lutnick, who led Cantor Fitzgerald for 30 years before handing control to his sons before joining the Trump administration, publicly championed the tariffs. However, documents obtained by Wired reveal that Cantor Fitzgerald purchased rights to tariff refunds from affected companies, paying 20-30% of what companies paid out in tariffs. The firm now stands to reap returns of up to five times its initial investment. Cantor Fitzgerald denied involvement in positioning against the tariffs. Critics on social media condemned the apparent conflict of interest, with journalist Adam Cochran calling it "the 53rd scheme by a Trump official to profit from government policy." Others described it as "pure criminality and graft," noting Lutnick was also tasked with implementing the tariffs.
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