Commerce Secretary Howard Lutnick reported at least $250 million in income for 2025, according to a Wall Street Journal report on his annual financial disclosure. The newspaper attributed most of the income to his former ownership interests in Cantor Fitzgerald.
Sources and verification limits
The Journal said it obtained the 74-page ethics filing through a document request. Stat Crux Report has not independently reviewed that filing. The figure is a reported minimum, and the coverage describes income rather than a calculation of net profit.
Newser’s account of the Journal’s reporting put the Cantor-related income at about $190 million before Lutnick transferred his stake to family members. It reported that his two eldest sons now run the financial-services firm.
Income, assets and net profit are different measures
Newser also reported that the minimum value of Lutnick’s disclosed assets fell to $237 million from $805 million in an earlier filing. Its account described asset sales and a shift toward index and money-market funds during 2025. Those asset valuations are distinct from the income total: a change in reported holdings does not, by itself, establish an equivalent profit or loss.
The original Stat Crux X post used the word “profited.” This article uses “income” to match the published reporting and makes clear that the disclosure itself has not been independently obtained by Stat Crux.
