By James J. Devine
As disgraced former President Donald Trump prepares for a return to the White House, a team of billionaires and political insiders is organizing a more streamlined transition to power, aimed at avoiding the chaotic missteps that marked his first presidency.
Businesses and many wealthy Republicans initially shunned Trump after his attempted coup d’etat failed to overturn the last election result but now, those people appear to be setting aside their principles to make room for more financial gains.
This time, Trump has enlisted two key private-sector allies—Howard Lutnick, the CEO of Cantor Fitzgerald, and Linda McMahon, the former WWE executive and small-business advocate—to oversee his transition and building a second-term administration.
Their task is clear: set the stage for a more efficient and successful administration.
Unlike in 2016, when the Trump transition team struggled with internal power struggles, political inexperience, and disorganization, the current approach is marked by a more coordinated effort.
Lutnick and McMahon bring a wealth of business acumen and political experience.
Lutnick, who has been a significant donor to Trump’s campaigns, is handling personnel, while McMahon is spearheading policy initiatives, leveraging her ties to the conservative establishment and her work with Trump’s think tank, the America First Policy Institute (AFPI) viewed as a rival to the Heritage Foundation’s Project 2025.
Trump initially proclaimed that “America First” would be “the major and overriding theme of my administration” but with this phrase, the Republican is connecting himself to the anti-Semitic and racist Ku Klux Klan and other fascist movements in US history.
Trump’s transition strategy, however, has sparked controversy among some insiders. Lutnick, in particular, has faced scrutiny for potentially mixing his business interests with his transition duties.
As CEO of Cantor Fitzgerald, Lutnick has strong ties to Wall Street, and his firm’s reported connection to the cryptocurrency company Tether—currently under federal investigation—has raised concerns about conflicts of interest.
Some Trump allies worry that Lutnick may be trying to replace early Trump administration advisers with individuals more beneficial to his own business interests.
Lutnick and his camp have denied these allegations, with Lutnick himself asserting that the transition team’s sole focus is on preparing Trump for a successful second term. “The greatest field of people ever to walk into government is going to join him on January 20,” Lutnick declared at an October town hall.
Meanwhile, McMahon’s role in shaping the policy framework for a second Trump administration is already underway.
Her AFPI has been crafting over 100 executive actions for Trump’s first days in office, focusing on reshaping everything from regulatory policies to social welfare programs.
McMahon’s previous experience as head of the Small Business Administration during Trump’s first term has solidified her as a key figure in the policy-making process, with an emphasis on pro-business, free-market solutions that appeal to nationalist fanatics.
Trump’s sons, Donald Jr. and Eric, also play important roles in the transition, with Donald Jr. expected to assist in selecting personnel for key positions.
Additionally, figures such as former Democratic Rep. Tulsi Gabbard and independent presidential candidate Robert F. Kennedy Jr. have been given honorary roles, symbolizing Trump’s outreach to both traditional Republicans and disaffected voters from other political factions.
Billionaire Backers: A Power Shift
Central to Trump’s second-term efforts is the vast network of billionaires who have rallied behind his cause.
This time, Trump’s financial backing is far more robust, with a collection of ultra-wealthy individuals worth a combined $408 billion poised to influence policy decisions during a potential second term. Many of these figures were initially cautious about Trump’s first campaign but have since emerged as staunch supporters.
Elon Musk, the world’s wealthiest individual and CEO of Tesla and SpaceX, is perhaps the most high-profile supporter in Trump’s orbit. Musk has donated millions to Trump’s campaign, and his influence extends beyond financial contributions.
Having transformed Twitter (now X) into a platform that amplifies conservative and far-right voices, Musk is expected to play a central role in a second Trump administration.
Musk could lead a new “Department of Government Efficiency,” tasked with overhauling federal bureaucracy and slashing government spending.
Other prominent backers include hedge fund manager John Paulson, who famously profited from betting against the housing market during the 2008 financial crisis.
Paulson has suggested that he could be tapped for Treasury Secretary, where he would likely push for tax cuts and the elimination of green energy subsidies.
Meanwhile, casino magnate Steve Wynn has long been a close ally of Trump.
The financial influence of these billionaires is already being felt in the form of heavy donations and fundraisers, with figures like Musk and Wynn at the forefront of pro-Trump PACs and fundraising efforts.
This coalition of wealthy supporters is expected to wield significant influence over the policies of a second Trump administration, shaping everything from tax policy to regulatory reform.
A Privately Driven Agenda
As Trump’s second presidential bid gains momentum, the transition to power appears to be increasingly privatized. Billionaires and corporate leaders not only financed the campaign but they are also laying the groundwork for a new, business-driven approach to governance.
Whether it’s Musk’s push for space exploration or Lutnick’s advocacy for tariffs on China, the influence of these private-sector players will be felt in the halls of power if Trump returns to office.
For many, the question remains: will this business-minded, billionaire-backed transition translate into effective governance?
As Trump’s transition team moves forward with its planning, there are still concerns over how these private interests will mesh with public service.
Critics worry that the close ties between business moguls and government could lead to conflicts of interest and further erosion of trust in the political system.
For now, Trump’s team remains focused on ensuring a smoother process than the one that plagued his first term.
With strict rules in place and a cadre of influential backers, the former president is hoping to turn a chaotic 2017 transition into a well-oiled machine for 2025.
As the clock ticks down to Inauguration Day, all eyes will be on whether this new coalition of billionaires can successfully shape the future of the United States but the vast majority of Americans are likely to suffer under Trump’s leadership.
The growing concentration of wealth and power in the hands of a few billionaires poses an existential threat to American democracy and our way of life.
While Americans traditionally respect hard-earned wealth, today’s ultra-rich are using their vast fortunes to manipulate our political system, control media narratives, and evade taxes—leaving the majority of citizens disenfranchised and struggling.
Billionaires have rigged the system to serve their interests by funneling money into politics, weakening labor protections, and consolidating corporate power.
This undermines democratic institutions, allowing the wealthy to influence laws, shape public opinion, and suppress dissent, while working Americans face stagnating wages and declining opportunities.
The result is a democracy that increasingly reflects the will of the rich rather than the people. When the political system is controlled by a few, the voices of ordinary citizens are silenced, inequality grows, and social unrest follows.
Our democracy cannot thrive under oligarchy, and the promise of equal opportunity will certainly erode during the second Trump presidency.
To preserve democracy, we must reform campaign finance, overhaul the tax system, strengthen labor rights, and hold media and tech companies accountable.
The future of our nation depends on whether we rise to defend democracy or accept the dominance of a few billionaires who hold power at the expense of the many.
The choice is ours: resist or resign to a future of growing inequality and undemocratic rule.