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Steven Mnuchin

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Steven Mnuchin (born c. 1963) is an American banker, film producer and political fundraiser. He is the Secretary of the Treasury of the United States.

 

Early life

Steven Mnuchin was born circa 1963.[2] He is the son of Elaine Terner Cooper of New York and of Robert E. Mnuchin of Washington, Connecticut.[2] He graduated from Yale University.[2]

Career

Mnuchin amassed a fortune estimated at over $40 million while working for Goldman Sachs, where his father had worked for three decades and had also made a fortune.[3][4]

In 2002, Mnuchin left Goldman and worked briefly for his Yale roommate Edward Lampert, chief executive of Sears. He founded RatPac-Dune Entertainment, which produced a number of notable films, including the X-Men film franchise and Avatar.[4] Dune bought the failed housing lender IndyMac in 2009, buying it out of bankruptcy from the F.D.I.C. and renaming it OneWest with Mnuchin as Chair. According to The New York Times, OneWest "was involved in a string of lawsuits over questionable foreclosures, and settled several cases for millions of dollars." OneWest was sold to CIT Group in 2015.[3]

His banking policies were accused of misconduct and fraud. This claim is based on a supposed leak demonstrating misconduct. [14]

In Hollywood, Mnuchin, along with film producer Brett Ratner and financier James Packer, working with RatPac-Dune Entertainment, produced American Sniper and Mad Max: Fury Road. Mnuchin was co-chairman of the trio's movie company, Relativity Media, but left before it went bankrupt.[3] 

 

Political activity

Mnuchin supported Mitt Romney during the 2008 U.S. presidential election.[3] In May 2016, he was named Finance Chair of the Donald Trump 2016 presidential campaign. On 30 November 2016, he was nominated as Donald Trump's Secretary of Treasury. [3]

Personal life

In 1999, he married Heather deForest Crosby.[2] The two divorced in 2014 and he is currently engaged to Louise Linton.

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Created: July 29, 2016, 8:34 p.m.
Last Modified: Jan. 19, 2017, 9:32 p.m.