The 78-year-old Trump has long treasured his close alliances with the rich and famous, but this time around, he will bring with him a mostly new generation of loyalists. This 2.0 contingent has curried favor with Trump through a combination of loyalty, campaign donations, endorsements and, of course, flattery.
Read the full story on Forbes: https://www.forbes.com/sites/johnhyatt/2024/11/08/handicapping-trumps-brain-trust-the-new-trumpiverse/
Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1
Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:
https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript
Stay Connected
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Read the full story on Forbes: https://www.forbes.com/sites/johnhyatt/2024/11/08/handicapping-trumps-brain-trust-the-new-trumpiverse/
Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1
Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:
https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript
Stay Connected
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Category
🗞
NewsTranscript
00:00Today on Forbes,
00:02Handicapping Trump's brain trust, the new Trump-averse.
00:07During his victory speech last week,
00:09Donald Trump was acknowledging those who helped fuel his astonishing political comeback
00:13and singled out Elon Musk.
00:16Trump gushed, quote,
00:17We have a new star. A star is born.
00:20Elon.
00:22Trump then launched into a four-minute riff about the world's richest person,
00:26whom he called, quote,
00:27a super genius.
00:29The president-elect has promised vast powers to Musk to shape U.S. policy and federal spending.
00:35After endorsing Trump in July,
00:37Musk quickly embraced the idea of helming a, quote,
00:40department of government efficiency,
00:42aiming to cut $2 trillion or more from the federal budget,
00:45while Trump has touted Musk as the so-called, quote,
00:48secretary of cost-cutting.
00:51They have both indicated it's unlikely Musk will take on an official role,
00:54as Trump says Musk, quote,
00:56doesn't want to be in the cabinet,
00:58and Musk said of his services, quote,
01:00No pay, no title, no recognition is needed.
01:04Elon Musk is the most famous and wealthiest of a cabal of new allies
01:08as Trump prepares to re-enter the White House.
01:11The 78-year-old Trump has long treasured his close alliances with the rich and famous,
01:15but this time around,
01:17he will bring with him a mostly new generation of loyalists
01:20that includes podcaster Joe Rogan
01:22and UFC president and CEO Dana White, among others.
01:26This 2.0 contingent has curried favor with Trump
01:29through a combination of loyalty, campaign donations,
01:32endorsements, and, of course, flattery.
01:36Some are expected to serve as cabinet members.
01:38Others will likely have unofficial roles as advisers
01:41with whom Trump speaks over the phone,
01:43on the golf course, on podcasts, and via social media.
01:47Besides Musk, there are hedge fund moguls John Paulson and Scott Besant,
01:52two contenders for treasury secretary or other key economic roles,
01:56who have vowed to help Musk slash spending.
01:59During an interview with Forbes early on Election Day,
02:01Besant, who worked for Trump nemesis George Soros for years, said, quote,
02:11Political newcomers like Vivek Ramaswamy and Robert F. Kennedy Jr.,
02:15two other possibilities for cabinet positions or high-powered advisory roles,
02:19seek to remake entire federal agencies.
02:22Kennedy plans to push for the removal of fluoride in drinking water
02:25and to, quote,
02:31On the campaign trail,
02:32Ramaswamy mused about shutting down the entire Department of Education.
02:37Among tech power players whose stars have risen in Trump's orbit,
02:40Silicon Valley venture capitalist Marc Andreessen,
02:43a lifelong Democrat who sided with Trump because of his tech policies
02:47and who scored an invitation to Mar-a-Lago on election night,
02:50and TikTok shareholder Jeff Yass,
02:53who seemingly convinced Trump earlier in the year
02:55to back off his threats of banning the social media platform,
02:58which Trump later joined.
03:01It's highly likely that Trump will continue to consult
03:03some of the same folks he always has,
03:05starting with his family members.
03:07While daughter Ivanka Trump and son-in-law Jared Kushner
03:10have said they will not return to their previous roles as advisers to the president,
03:15Kushner told Forbes last week that he could still informally advise Trump.
03:19Meanwhile, his son Eric's wife Lara,
03:22co-chair of the Republican National Committee,
03:24took a lead role in the campaign
03:26and stood right next to him during his victory speech.
03:29Also not to be forgotten are the group of billionaires
03:32who have stood by him in the past,
03:34including Wall Street legend and fellow Florida resident Carl Icahn,
03:38Trump's Las Vegas business partner Phil Ruffin,
03:40and former Marvel chief Ike Perlmutter.
03:44There will be lots of jostling and schmoozing in the coming weeks.
03:47Who will win a coveted cabinet appointment or some other role
03:50will be a closely watched match of gamesmanship.
03:53If last time was any guide,
03:55even those in the inner circle should buckle up.
03:57Just ask Goldman Sachs veteran Anthony Scaramucci,
04:00who joined the White House as director of communications on July 21, 2017.
04:05He lasted only 10 days.
04:08For full coverage, be sure to watch our Forbes Talks video this week
04:12and check out John Hyatt's piece on Forbes.com.
04:16This is Kieran Meadows from Forbes.
04:18Thanks for tuning in.