Trump Transition Team Co-Chair rallied Donald Trump's faithful followers in Madison Square Garden last Sunday. He exhorted the crowd to "crush Jihad", lamented that the rest of the world is "eating our lunch" and patted himself on the back for the team building job he is doing on behalf of Donald Trump.
Billionaire Lutnick already has lots of jobs, eight CEO positions according to SEC filings.
Lutnick holds at least a 10 percent stake in GCM Grosvenor which has a $30 billion private equity platform. That means Howard gets the billionaire tax break from GCM Grosvenor's carried interest distributions. It also makes Lutnick a private equity underwriter (PEU).
Did Howard help deliver the Bay area venture capitalists to Trump? David Sachs and his podcast buddies pushed Trump with comments like, see... he's not crazy. Lutnick was the man in Rumble's SPAC, which helped Tech Gods Peter Thiel and Sachs make even more money.
Lutnick was not only the head of the merger sub, his firm served as advisor and placement agent for the deal. Ka-ching, ka-ching, ka-ching.
As for "the rest of world eating our lunch", Howard has been a frequent attendee at the World Economic Forum in Davos, Switzerland. His GFI Group announced a joint venture in China in December 2020, shortly after the COVID-19 pandemic hit its stride in the U.S. Lutnick's press release stated:
GFI Asia Partners Pte. Ltd ("GFI"), a subsidiary of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage and financial technology company, announced today that it took a majority stake in a newly established joint venture company in China, GFIGS Commercial Consulting (Shanghai) Co., Ltd ("GFIGS"), offering OTC derivatives brokerage service.
GFI's joint venture partner, Guizhou Big Data Capital Service Centre Co., Ltd. ("Guizhou Big Data Capital"), is a modern service enterprise whose main business direction is data commercialization and capitalization for both the information and financial services industry.
"Data commercialization" sounds like the predatory behavior Lutnick is citing with his "eating our lunch" comment. That's his Chinese JV partner.
As for the "greatest team to ever walk into government," that's Howard's job. I expect to see many PEUs occupy key positions in a Trump White House. That's been the case for both political teams for quite some time.
This race is different in that PEU legends and Tech Gods have joined to push the Red Team. They don't want to give up their insider seat at the table where these billionaires steer government policy, direct Uncle Sam's wallet to their affiliates and keep the preferred taxation they've enjoyed for decades (that the public hates).
Politicians Red and Blue love PEU and increasingly, more are one. Howard will ensure that continues should Trump win.
