Howard William Lutnick is an American businessman who has served as the 41st United States secretary of commerce since 2025.
Howard Lutnick emerges as a potential scapegoat if Trump's reciprocal tariffs fail. The tariffs are being called 'Liberation Day', but their impact on global trade remains uncertain and potentially disastrous.
On July 14, 1961, Howard William Lutnick was born. He is an American businessman who later became the 41st United States secretary of commerce.
In February 1978, during Howard Lutnick's junior year of high school, his mother Jane died of lymphoma.
In 1983, Howard Lutnick graduated from Haverford College with a degree in economics, where he also captained the tennis team.
In 1983, Howard Lutnick was hired at Cantor Fitzgerald by B. Gerald Cantor after working as a broker for the United States dollar–Japanese yen exchange. Cantor was encouraged by Rod Fisher, a partner at the firm and Cantor's nephew.
Since 1989, the Lutnicks have given political donations.
In December 1990, Howard Lutnick was appointed as Cantor's successor in the event of his death.
In 1990, B. Gerald Cantor began experiencing kidney dialysis, which led to a retinal haemorrhage that significantly deteriorated his eyesight.
In 1990, Howard Lutnick became president and chief executive of Cantor Fitzgerald.
In 1991, after a failed attempt to oust him, Howard Lutnick became the chief executive and president of Cantor Fitzgerald.
Since 1994, Lutnick had been diversifying Cantor's investments, seeking to establish a brokering business in Europe.
In December 1995, Cantor was hospitalized in New York after a medical incident. Lutnick moved to implement a succession plan at Cantor Fitzgerald, allowing him to become a managing general partner at the firm.
In 1995, following a medical incident involving Cantor, Lutnick entered into a legal dispute with Cantor's wife, Iris, regarding Cantor's succession plans.
In March 1996, Howard Lutnick and his division, CF Group Management, filed a lawsuit in Delaware to enforce the succession plan, arguing that Cantor did not possess "sufficient mental capacity" to understand the legal documents he was signing.
In 1996, after Cantor's death, Howard Lutnick was appointed chairman of Cantor Fitzgerald. He then made a significant investment in technology, which resulted in the creation of an electronic trading platform known as eSpeed.
In September 1998, Cantor Fitzgerald began electronic trading for futures contracts on Treasury bonds and notes and developed eSpeed with an investment of US$250 million.
In March 1999, eSpeed, an electronic trading platform, was released.
On September 11, 2001, al-Qaeda terrorists crashed American Airlines Flight 11 into 1 World Trade Center, where Cantor Fitzgerald's headquarters were located. 658 Cantor Fitzgerald employees, including Howard Lutnick's brother Gary, died in the September 11 attacks. Lutnick was not in the office that day, as he had taken his son to kindergarten. Following the attacks, eSpeed, through Cantor Fitzgerald's operations in London and New Jersey, continued trading.
By September 2001, eSpeed had created four dozen marketplaces, including TradeSpark, an exchange for natural gas and electricity.
In October 2001, after the September 11 attacks, the Cantor Fitzgerald Relief Fund began donating US$5,000 to families of victims with one or more children.
In February 2002, Cantor Fitzgerald announced it would divide US$4.9 million in profit to survivors of the September 11 attacks.
In September 2002, Cantor Fitzgerald donated US$4 million to the Cantor Fitzgerald Relief Fund.
By December 2002, Cantor Fitzgerald had 750 employees in New York.
In August 2004, Cantor Fitzgerald established a partnership, BGC Partners, for its voice brokerage business.
As of September 2006, the Cantor Fitzgerald Relief Fund had donated US$180 million to families.
In October 2007, Howard Lutnick was appointed the chief executive of Cantor Fitzgerald's fixed-income trading and sales business, succeeding Irvin Goldman.
In 2008, Howard Lutnick appeared on The Celebrity Apprentice, hosted by Donald Trump in a charity auction.
In 2013, Howard Lutnick gave debit cards of an equal amount to victims of the Moore tornado.
By September 2014, Cantor Fitzgerald and BGC Partners' annual charity day on September 11 had raised US$101 million for non-profits dedicated to the attacks, including the September 11th Education Trust.
As of October 2014, Howard Lutnick has donated US$65 million to Haverford College in total, including a single donation valued at US$25 million. Lutnick's donations have gone towards the library (named after him), the Douglas B. Gardner Integrated Athletic Center, the Cantor Fitzgerald Gallery, and the Gary Lutnick Tennis & Track Center, among other facilities.
In the 2016 United States elections, Howard Lutnick donated to presidential candidate Hillary Clinton and Senate candidate Kamala Harris, attributing these donations to his wife.
In January 2017, Anshu Jain, a former Deutsche Bank executive, joined Cantor Fitzgerald as its president.
In 2017, the Cantor Fitzgerald Relief Fund donated to hurricane relief, including Hurricane Harvey.
In May 2019, it was disclosed that Howard Lutnick had hosted a fundraiser for Donald Trump that raised more than US$5 million.
In 2020, Howard Lutnick was a fundraiser for Donald Trump's presidential campaign and advocated for broad tariffs.
Since 2020, Cantor Fitzgerald has invested in cryptocurrency, particularly Tether, a major cryptocurrency company.
In 2022, Anshu Jain, the president of Cantor Fitzgerald, died.
In June 2024, Howard Lutnick co-hosted a fundraiser for Donald Trump in London that was organized by Duke Buchan.
In July 2024, Howard Lutnick and presidential candidate Donald Trump spoke at a Bitcoin conference in Nashville, Tennessee, where Lutnick announced Cantor Fitzgerald would open a US$2 billion lending facility with Bitcoin as collateral.
In August 2024, Howard Lutnick was named as the co-chair of Donald Trump's presidential transition.
As of November 2024, Lutnick is a member of the Partnership for New York City's board and Weill Cornell Medicine.
In December 2024, Lutnick purchased Bret Baier's home in Washington, D.C., for US$25 million, setting a record for the most expensive house in the city.
In 2024, following the presidential election, Howard Lutnick was considered for the position of Secretary of the Treasury. However, on November 19, 2024, Donald Trump selected Lutnick as his nominee for Secretary of Commerce.
In January 2025, Lutnick's financial disclosure form revealed that he had at least US$806 million in assets, including shares in GE Aerospace, GE Healthcare, The Walt Disney Company, Nasdaq, Inc., and the musical Kimberly Akimbo.
In January 2025, the Senate Committee on Commerce, Science, and Transportation held a committee hearing for Howard Lutnick.
In February 2025, Allison Lambert, Lutnick's wife, was appointed a trustee of the John F. Kennedy Center for the Performing Arts after president Donald Trump was elected chairman.
In February 2025, The New York Times reported that Lutnick had been involved in discussions to offer Intel's manufacturing facilities to TSMC.
In February 2025, after being confirmed as the United States secretary of commerce, Lutnick named his sons, Brandon and Kyle, as chairman and executive vice chairman, respectively, of Cantor Fitzgerald.
In March 2025, Lutnick stated on Meet the Press that there was "no chance" of a recession due to Trump's economic policies and argued that tariffs are necessary to reverse globalization and deter fentanyl.
In March 2025, amid the decrease in values of stocks for Tesla, Lutnick appeared on Fox News and declared that people should buy Tesla stock, prompting government ethics experts to suggest he violated a law that prevents federal government employees from giving endorsements.
In 2025, Howard Lutnick assumed the role of the 41st United States secretary of commerce.
In 2025, as co-chairman of Trump's transition team, Lutnick called The Heritage Foundation, which led Project 2025, "radioactive" to the New York Post.
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