Trump cabinet Is richer than the poorest third of households

President-elect Donald Trump's Cabinet picks are richer than the bottom third of American households combined.

His Cabinet is worth $14.5 billion so far.

Almost all of that wealth stems from four billionaires: Todd Ricketts as deputy secretary of commerce, Betsy DeVos as secretary of education, Wilbur Ross as secretary of commerce, and Linda McMahon as the head of the Small Business Administration.

Trump's official picks for Cabinet and administration positions
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Trump's official picks for Cabinet and administration positions

Counselor to the President: Kellyanne Conway

REUTERS/Joshua Roberts

Veterans Affairs Secretary: David Shulkin

(Photo credit DOMINICK REUTER/AFP/Getty Images)

Transportation secretary: Elaine Chao

(Photo By Bill Clark/CQ Roll Call)

Energy secretary: Rick Perry

(Photo credit KENA BETANCUR/AFP/Getty Images)

Secretary of State: Rex Tillerson

 REUTERS/Daniel Kramer

Secretary of Defense: Retired Marine General James Mattis

(Photo by Samuel Corum/Anadolu Agency/Getty Images)

Chief of staff: Reince Priebus

(JIM WATSON/AFP/Getty Images)

Chief strategist: Steve Bannon


Attorney General: Senator Jeff Sessions

(Photo By Bill Clark/CQ Roll Call)

Director of the CIA: Kansas Rep. Mike Pompeo

(Photo By Bill Clark/CQ Roll Call)

Deputy national security adviser: K.T. McFarland

(Photo by Michael Schwartz/Getty Images)

White House counsel: Donald McGahn

(Photo by Drew Angerer/Getty Images)

Ambassador to the United Nations: South Carolina Gov. Nikki Haley

(Photo by Astrid Riecken For The Washington Post via Getty Images)

Education secretary: Betsy DeVos

(Photo By Tom Williams/CQ Roll Call)

Commerce secretary: Wilbur Ross

(Photo by Andrew Harrer/Bloomberg via Getty Images)

Homeland security secretary: General John Kelly

(Photo by Drew Angerer/Getty Images)

Housing and urban development secretary: Ben Carson

(Photo credit NICHOLAS KAMM/AFP/Getty Images)

Administrator of Environmental Protection Agency: Oklahoma Attorney General Scott Pruitt

(Photo by Spencer Platt/Getty Images)

Health and human services secretary: Tom Price

(Photo by Alex Wong/Getty Images)

Department of Homeland Security: Retired General John Kelly

(REUTERS/Joshua Roberts)

Secretary of agriculture: Sonny Perdue

(BRYAN R. SMITH/AFP/Getty Images)

That's more than the 43 million least wealthy American households combined.

That's according to data from the Federal Reserve's most recent Survey of Consumer Finances. It's worth noting that some of the 43 million least wealthy households have zero wealth or are in debt.

That survey also pegs the median U.S. household wealth as around $81,200. By that metric, Trump's new Cabinet is worth almost 180,000 median households.

SEE MORE: Donald Trump May Assemble The Wealthiest Cabinet In Modern US History

It's four times greater than President Barack Obama's Cabinet. And 30 times more than former President George W. Bush's Cabinet.

If confirmed, Trump's Cabinet would be the richest in history by far.

And Trump is pitching his Cabinet's massive wealth as a feature, arguing their financial success indicates they have the skills necessary to succeed at running a government agency.

SEE MORE: Donald Trump Is Mending Ties With Tech Giants ... Except For Twitter

He told a crowd in Iowa: "One newspaper criticized me, 'Why can't they have people of modest means?' Because I want people that made a fortune! Because now they're negotiating with you!"

Almost all of Trump's picks so far will have to go through Senate hearings before their confirmation. But it's unlikely Trump's selections won't make it through the process, since Congress is in Republican hands.

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