Financial reports from Cerberus Capital Management or major financial news outlets

Trump Appoints Stephen Feinberg as Deputy Secretary of Defense, Elbridge Colby as Under Secretary, Firm Manages $65 Billion

Dec 22, 2024, 11:02 PM

President-elect Donald Trump has appointed billionaire investor Stephen Feinberg as Deputy Secretary of Defense. Feinberg, co-founder of Cerberus Capital Management, will serve alongside Elbridge Colby, who has been nominated as Under Secretary of Defense for Policy. Trump announced these appointments as part of his broader strategy to assemble a defense team focused on an 'America First' policy. Feinberg's firm manages a $65 billion asset portfolio and has faced scrutiny for its ties to various political interests. The announcement comes as Trump continues to finalize key positions within his administration ahead of taking office.