Who is Steven Mnuchin? Everything You Need to Know

Quick Facts

Also Known As: Steven Terner Mnuchin

Age: 62 Years, 62 Year Old Males

Family:

Spouse/Ex-: Louise Linton (m. 2017), Heather deForest Crosby (m. 1999–2014)

father: Robert Mnuchin

mother: Elaine Terner Cooper

siblings: Alan Mnuchin

children: Dylan Mnuchin, Emma Mnuchin, John Mnuchin

Born Country: United States

Bankers American Men

Height: 6'0" (183 cm), 6'0" Males

Notable Alumni: Riverdale Country School

U.S. State: New Yorkers

More Facts

education: Yale University, Riverdale Country School

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What is Steven Mnuchin's current role in the government?

Steven Mnuchin served as the Secretary of the Treasury under the Trump administration from 2017 to 2021.
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What controversial actions has Steven Mnuchin taken during his time as Secretary of the Treasury?

Steven Mnuchin faced criticism for his handling of economic policies, tax cuts for the wealthy, and his decision to end emergency lending programs during the COVID-19 pandemic.
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How did Steven Mnuchin impact the economy during his tenure as Secretary of the Treasury?

Steven Mnuchin played a key role in implementing the Tax Cuts and Jobs Act of 2017, which significantly reduced corporate tax rates.
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What is Steven Mnuchin's background in finance and business?

Steven Mnuchin has a background in investment banking, having worked at Goldman Sachs before starting his own hedge fund. He also has experience in Hollywood as a film producer.
5

What are some key highlights of Steven Mnuchin's career before entering politics?

Before his time as Secretary of the Treasury, Steven Mnuchin worked in finance, established his own hedge fund, and was involved in various business ventures, including film production.

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Childhood & Early Life

Steven Terner Mnuchin was born on December 21, 1962, in New York City, U.S.A.

He was the second-youngest son of Elaine Terner Cooper and Robert E. Mnuchin. Robert and Elaine divorced later.

Elaine had served as the vice-president of the ‘International Directors' Council’ of the ‘Solomon Guggenheim Museum.’ Robert worked with 'Goldman Sachs' for 33 years and was made a general partner and a member of the management committee. Robert also founded the art gallery known as the 'Mnuchin Gallery.'

After graduating from the 'Riverdale County School' in New York City, Steven Mnuchin earned his bachelor's degree in economics from 'Yale University,' New Haven, Connecticut, U.S.A.

In the early 1980s, he worked as a trainee with the investment bank 'Salomon Brothers.'

At ‘Yale,’ he was the publisher of the 'Yale Daily News.' In his senior year, he was inducted into the ‘Yale’ undergraduate senior secret student society named 'Skulls and Bones.'

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Corporate Career

Immediately after his graduation, Steven Mnuchin started working with the mortgage department of ‘Goldman Sachs.’

In 1994, he became a partner at the organization and the head of the mortgage securities department. He served until the end of 1998.

As a partner, he was in charge of various divisions and departments in the organization. In December 1999, he was made a member of the executive committee and co-head of the technology operating committee and served in this position until February 2001. The same month, he became the executive vice-president and co-chief information officer.

In 2002, when he quit ‘Goldman Sachs,’ he was the executive vice-president, a member of the management committee, and the chief information officer of the organization. For a brief period that year, he worked as the vice-chairman of the hedge fund 'ESL Investments,' owned by Edward Lampert, his roommate at ‘Yale.’

The following year, along with billionaire investor George Soros, he co-founded the company 'SFM Capital Management.'

In 2004, he co-founded the hedge fund 'Dune Capital Management,' along with two former ‘Goldman’ partners. He was appointed as the CEO of the firm. The company invested in two of Trump's projects.

Steven Mnuchin and a group of investors, including George Soros, acquired 'IndyMac,' a residential lender based in California. They renamed it 'OneWest Bank.'

‘OneWest’ acquired a few more loss-making banks. Within a year, it made profits and acquired assets worth $27 billion, which made it Southern California's largest bank.

The ‘CIT Group' purchased ‘OneWest’ for $3.4 billion in 2015. He was appointed as a member of the board of directors of ‘CIT.’

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After being chosen as the secretary of the treasury, he resigned from his post at ‘CIT.’

Film Career

In 2004, Steven Mnuchin founded 'Dune Entertainment' as a part-time business. In 2006, he began co-financing films for '20th Century Fox.' Some of the big-budget movies under his production were the 'X-Men' movie series, 'Avatar,' 'Night at the Museum' and its sequel, and the 'Alvin and the Chipmunks’ franchise. The contract expired in 2012.

He entered into an agreement with 'RatPac Entertainment' and formed the company ‘RatPac–Dune Entertainemnt, LLC' in September 2013.

In November 2013, they signed a 4-year deal with 'Warner Bros. Entertainment Inc,' which ended in 2018.

During this period, he had worked as an executive producer for many movies, such as 'The Lego Movie' franchise, the 'Annabelle' movie series, 'Batman v Superman: Dawn of Justice,' and 'Wonder Woman.'

He later relinquished his post, as he was selected as the secretary of the treasury.

Secretary of the Treasury

On November 30, 2016, president-elect Donald Trump announced that he would nominate Steven Mnuchin as the secretary of the treasury. His nomination was approved by the 'United States Senate Committee on Finance' on February 1, 2017. He was elected as a secretary of the treasury on February 13, 2017, by a vote of 53–47.

He has supported Trump's policies on technology, environment, tax reforms, and foreign trade.

Controversies

In 2008, Trump sued 'Dune Capital Management,' but the dispute was later settled. The same year, Steven was sued by a trustee of 'Bernard Madoff Securities.’ However, he was spared due to time limitations.

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Since 2009, 'OneWest Bank' has been accused of unethical practices, such as foreclosure of the home loans of delinquent borrowers. In October 2011, around a hundred protestors assembled before Steven's house because of this issue.

As he was chosen to be the secretary of the treasury, he divested from his earlier businesses. However, in May 2017, it was claimed that his then-fiancée (now wife), Louise, had replaced him as the interim CEO of ‘Dune Entertainment’ with effect from February 2017. This move was questioned by one of the senators. Toward the end of May, Louise resigned from her post.

In March 2017, his statement in the 2017-animated movie 'The Lego Batman Movie' appeared to be an endorsement of a film he was involved in. This made people question his ethics.

Since his appointment as the secretary of the treasury, he has come under heavy criticism for using and intending to use government aircraft and military jets for his personal trips.

The set of leaked electronic documents called 'Paradise Papers,' which initially became public on November 5, 2017, mentioned his name and his offshore entities.

Brett Ratner, one of the founders of 'RatPac–Dune Entertainment,' was accused of sexual harassment in 2017.

In 2019, 'Sears Holdings Corporation' sued Steven, who was on its board, for asset stripping.

Personal Life & Family

Steven Mnuchin was married to Kathryn Leigh McCarver from 1992 to 1999.

In 1999, he married Heather deForest Crosby. They had three children. They divorced in 2014. Heather is a philanthropist and an AZIAM yoga practitioner.

On June 24, 2017, Mnuchin married actor Louise Linton.

Facts About Steven Mnuchin

Steven Mnuchin has a black belt in Taekwondo, showcasing his dedication to physical fitness and discipline outside of his professional life.

Mnuchin was a member of the Skull and Bones society during his time at Yale University, a secret society known for its influential alumni and mysterious rituals.

He is an avid art collector and has a notable collection that includes works by famous artists such as Willem de Kooning and Mark Rothko.

Mnuchin produced several successful Hollywood films before entering politics, including blockbusters like "Wonder Woman" and "The Lego Movie."

Steven Mnuchin Biography

You wanted to know

What is Steven Mnuchin's current role in the government?

What controversial actions has Steven Mnuchin taken during his time as Secretary of the Treasury?

How did Steven Mnuchin impact the economy during his tenure as Secretary of the Treasury?

What is Steven Mnuchin's background in finance and business?

What are some key highlights of Steven Mnuchin's career before entering politics?