Pentagon’s Feinberg Discloses $66 Million in Cerberus Income

[u/John3262005]

https://www.bloomberg.com/news/articles/2026-10-15/pentagon-s-feinberg-discloses-66-million-in-cerberus-income?srnd=phx-money

Billionaire Stephen Feinberg, the No. 2 Pentagon official, disclosed 2025 income of $65.6 million that he earned before he divested holdings in Cerberus Capital Management, the private equity firm he co-founded.

The figure comes from an annual financial disclosure that was released on Monday by the federal Office of Government Ethics. It includes Feinberg’s salary or draw from the firm before he joined the Department of Defense in March 2025, among other earnings.

Feinberg has divested all his interests in Cerberus, according to the 114-page disclosure.

Overall, he disclosed assets worth at least $483 million, with his biggest holdings in Treasury bills. Officials disclose the value of their assets in broad ranges, with the top tier set at over $50 million. Feinberg disclosed seven assets in that range, including accounts at two US banks holding cash.

He also listed a cattle ranch in Meeker, Colorado, and residential real estate in New York that were both worth at least $25 million.

Feinberg’s current disclosure was far shorter than the 1,827-page document — with more that 10,000 individual line items — that he filed ahead of his confirmation hearing, which listed underlying assets of Cerberus’ funds that he’s since divested. He also divested shares in more than three dozen companies, including Amazon.com Inc. and Crowdstrike Holdings Inc.

Feinberg, who has long avoided the limelight, argued ahead of his confirmation that his background in private equity investing made him the ideal candidate to fix long-festering problems at the Pentagon. He’s won praise from Defense Secretary Pete Hegseth for his efforts to reform the Pentagon bureaucracy.

Feinberg was in a more tenuous position earlier this year because of delays in replenishing US munitions drained by the wars in Iran and Ukraine, people familiar with the matter previously told Bloomberg News. He’d also faced resistance from defense companies unhappy about new procurement rules, they said.

The White House even reviewed potential candidates, according to the people, who asked not to be identified discussing private deliberations.

But ultimately, they said, Feinberg was seen by those inside the Pentagon, including Hegseth, as too instrumental to a strategy of snapping up stakes in defense firms to boost the availability of critical minerals and speed up the production of key weapons.