Oligarchs Rush To Snap Up DC’s “Trophy Mansions”

The New York Times reports:

President Biden warned in his farewell address to the nation last week that an oligarchy is taking shape in America. In Washington, the oligarchs are already here, buying big houses. Counting Trump himself, there are at least a dozen billionaires among his cabinet picks and those headed for senior roles in the new administration. Elon Musk tops the list with a $429 billion net worth, according to Forbes, making him the world’s richest man.

The financier Howard Lutnick, Mr. Trump’s choice to be commerce secretary, last month closed on the French Chateau-style home of the Fox anchor Bret Baier on Foxhall Road for $25 million, a record for the area. Scott Bessent, the nominee for Treasury secretary has looked at a $7 million Federal-style house

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