Steven Mnuchin

Mnuchin's great-grandfather, Aaron Mnuchin, a Russian-born diamond dealer who later resided in Belgium, emigrated to the U.S. in 1916.

Mnuchin attended Riverdale Country School in New York City.

Steven Terner Mnuchin (born December 21, 1962) is an American investment banker and film producer who served as the 77th United States secretary of the treasury as part of the Cabinet of Donald Trump from 2017 to 2021.

Serving for a full presidential term, Mnuchin was one of the few high-profile members of Trump's cabinet whom the president did not dismiss.

Mnuchin was born in New York City.

Steven Mnuchin was born on December 21, 1962, in New York City, the second-youngest son in his family.

Mnuchin's family is Jewish.

He is the son of Robert E. Mnuchin of Washington, Connecticut, and Elaine Terner Cooper of New York.

Robert Mnuchin was a partner at Goldman Sachs in charge of equity trading and a member of the management committee.

He is also the founder of an art gallery in New York City, the Mnuchin Gallery.

Mnuchin's first job was as a trainee at investment bank Salomon Brothers in the early 1980s, while still studying at Yale.

Upon graduating from Yale University in 1985, Mnuchin joined the investment bank Goldman Sachs where his father, Robert Mnuchin, was a general partner.

Mnuchin worked at Goldman Sachs for 17 years, eventually becoming its chief information officer.

He graduated from Yale University in 1985 with a bachelor's degree in economics.

At Yale, Mnuchin was publisher of the Yale Daily News, and was also initiated into Skull and Bones in 1985.

While a student at Yale, Mnuchin drove a Porsche and lived at New Haven's Taft Hotel.

Mnuchin graduated from Yale in 1985 and started working for Goldman Sachs, where his father had been employed since 1957.

Mnuchin started in the mortgage department, and became a partner at Goldman in 1994.

After he left Goldman Sachs in 2002, he worked for and founded several hedge funds and launched Dune Entertainment, a film production company that financed several films for 20th Century Fox.

He later served on the boards of Kmart and Sears Holdings.

Until he left the company in 2002, Mnuchin held the following positions as a partner:

Mnuchin left Goldman Sachs in 2002 after 17 years of employment, with an estimated $46 million of company stock and $12.6 million in compensation that he received in the months prior to his departure.

After he left Goldman Sachs in 2002, Mnuchin briefly worked as vice-chairman of hedge fund ESL Investments, which is owned by his Yale roommate Edward Lampert.

From 2003 to 2004 he worked as Chief Executive Officer at SFM Capital Management, a fund backed by George Soros.

Mnuchin founded a hedge fund called Dune Capital Management, named for a spot near his house in The Hamptons, in 2004 with two former Goldman partners.

After its founding, Mnuchin served as the CEO of the company.

The firm invested in at least two Donald Trump projects, the Trump International Hotel and Tower in Honolulu and its namesake in Chicago.

Dune Capital Management and other lenders to the skyscraper in Chicago were sued by Trump before a settlement was reached.

Mnuchin became a director of Kmart when it exited bankruptcy through an investment by ESL.

When the company merged in 2005 with Sears to form Sears Holdings, he continued on the board of the new company until his nomination as Treasury secretary in 2016.

During the financial crisis of 2007–2008 he bought failed residential Indymac, which he reorganized as OneWest Bank and resold, becoming embroiled in lawsuits over questionable foreclosures.

Mnuchin joined Trump's presidential campaign in 2016, and was named National Finance Chairman for the campaign.

On February 13, 2017, Mnuchin was confirmed by the U.S. Senate as Secretary of the Treasury by a vote of 53–47.

As Secretary of the Treasury, Mnuchin supported the Trump tax cuts and the tax reform of 2017, and advocated reducing personal and corporate tax rates.

In regard to regulatory policy, Mnuchin supported President Trump’s partial repeal of the Dodd–Frank Act, citing the complexity of the legislation.

After Sears Holdings' bankruptcy in 2018 the company's estate sued the former management, including Lampert and Mnuchin, for "asset stripping" during their tenure.

The lawsuit ended in 2022 with a $175 million settlement in the estate's favor.

Mnuchin was outbid by Lone Star Funds on a portfolio of residential mortgage-backed collateralized debt obligations being sold by Merrill Lynch during the financial crisis, which sold for $6.7 billion.

Mnuchin has been criticized for his use of offshore entities for investment purposes as a hedge-fund manager, which is a common practice in the industry.

Mnuchin has stated: "In no way did I use [offshore entities] to avoid U.S. taxes."