Commerce Secretary Howard Lutnick reports more than $250 million in income last year

Commerce Secretary Howard Lutnick reported at least $250 million in income and other proceeds last year, much of it from the financial businesses he left behind when he joined the Trump administration , according to CNBC's calculations from his newly released 2025 annual financial disclosure . The largest piece was a $192 million distribution from Cantor Fitzgerald , the global financial services firm Lutnick led for decades. His annual financial disclosure describes the payment as a tax distribution handled under the ethics agreement he signed before taking office. The 74-page filing obtained by CNBC from the Office of Government Ethics provides the fullest accounting yet of Lutnick's finances during his first year in government.