According to CNN, prominent U.S. billionaires are securing critical positions in Donald Trump’s administration, with reports highlighting their financial ties to Trump’s campaign and organizations.
A separate CNN report reveals a $15 million settlement between Trump and ABC News regarding a defamation lawsuit filed by Trump’s team.
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Wealthy Appointees in Administration:
Since his landslide victory, Trump has been appointing preferred individuals—mostly affluent donors—to key roles.
These include Elon Musk, who reportedly contributed $262.9 million, Linda McMahon, who became Education Secretary for $212 million, Howard Lutnick as Commerce Secretary for $94 million, and Warren Stephens as Ambassador to the U.K. for $33 million. Experts warn that such appointees could directly influence policymaking.
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ABC News Settlement:
The defamation lawsuit stemmed from statements made during a March interview on ABC News. Host George Stephanopoulos repeatedly referred to Trump as a “rapist” while interviewing South Carolina legislator Nancy Mace.
Read more: Donald Trump Named TIME Magazine’s 2024 Person of the Year
Trump’s legal team filed the lawsuit, which resulted in ABC News agreeing to pay $15 million in damages to Trump’s Presidency Foundation and Museum, along with $1 million in legal fees. Both ABC News and Stephanopoulos will also issue public apologies to Trump.
