Trump Pick of Billionaire Feinberg for Pentagon Bolsters Hegseth

Donald Trump’s choice of billionaire financier Stephen Feinberg as the No. 2 official at the Pentagon is part of a move by the president-elect to back up Pete Hegseth, his choice for defense secretary, with deputies focused on bringing in business experience and new technology.

Feinberg is co-founder and majority owner of Cerberus Capital Management LP and has a net worth of about $7.7 billion, according to the Bloomberg Billionaires Index. The private equity firm has major investments in defense technology companies. If confirmed by the Senate, Feinberg would hold a job historically focused on hands-on management of the Pentagon and related concerns, such as industrial production. 

The role of deputies at the Pentagon has taken on outsized significance in the incoming administration. Trump’s pick of Hegseth to lead the complex bureaucracy, with its budget of more than $840 billion, has met with resistance, in part over his limited management experience. In addition, the former Fox News host, who served in the Army National Guard in Iraq and Afghanistan, has denied allegations of sexual misconduct, alcohol abuse and mismanagement of two veterans organizations he headed. His confirmation by the Senate remains uncertain.

Hegseth’s public comments have focused on making good on Trump’s pledge to crack down on what he sees as “woke” initiatives at the Pentagon. 

In announcing his choice for deputy defense secretary on Sunday, Trump called Feinberg “an extremely successful businessman,” and also said that he will nominate:

“Especially with Feinberg’s appointment, it signals a more business-oriented approach” to managing the Defense Department, said Clementine Starling-Daniels, director of the Atlantic Council’s Forward Defense program. “There are some real benefits to taking a different approach there,” she said, but there are also risks in backing new, smaller-scale projects to the detriment of “large complex programs” like Lockheed Martin Corp.’s F-35 fighter plane.

Some of Cerberus’s portfolio companies have invested in hypersonic missile technology with both civilian and military applications. In addition, one of its companies, Tier 1 Group, provided paramilitary training to Saudis who later participated in the 2018 killing of Washington Post journalist Jamal Khashoggi, the New York Times reported in 2021.

Starling-Daniels also cited the limited experience of Trump’s top choices with the Pentagon’s complex bureaucracy. “If you don’t balance a secretary of defense with a deputy secretary of defense who really is attuned to how the department functions, I’m concerned that no matter what the policy priorities are, they will be really hard to enact,” she said.

Colby, who would be the Pentagon’s policy chief, served as deputy assistant secretary of defense early in Trump’s first term. He has championed Trump’s vision to end the US role as “global policeman” and backed calls for allies to boost defense spending so the US can focus on the strategic threat from China — a theme he hit in his book, The Strategy of Denial, published in 2021.

“A highly respected advocate for our America First foreign and defense policy, Bridge will work closely with my outstanding Secretary of Defense Nominee, Pete Hegseth, to restore our Military power, and achieve my policy of PEACE THROUGH STRENGTH,” Trump wrote on social media in announcing the picks, using Colby’s nickname. 

As acquisition chief, Duffey will be on the the front line of decisions on whether the Pentagon cuts back on traditional projects like the F-35 and turns instead to Silicon Valley for drones and AI. Billionaire Elon Musk, who’s become a top Trump adviser, has said “some idiots are still building manned fighter jets like the F-35” in an age of drones. 

Overseeing Pentagon spending in the Office of Management and Budget in Trump’s first term, Duffey instructed the Pentagon to hold back $250 million in military aid to Ukraine while Trump was pressuring Ukraine’s President Volodymyr Zelenskiy to investigate Joe Biden.

Michael, who would be research and engineering chief, was ousted from Uber in 2017, amid turmoil over allegations of a toxic workplace culture.

“Emil will ensure that our Military has the most technologically sophisticated weapons in the World, while saving A LOT of money for our Taxpayers,” Trump said in one of his posts.

Trump also announced that Joe Kasper would serve as chief of staff for the defense secretary. Kasper was a former Pentagon official in Trump’s first term before he was appointed as a deputy assistant secretary at the Department of Homeland Security.

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