A major shakeup is happening on Wall Street. Howard Lutnick, who is now the commerce secretary, is selling his shares in two big companies. He is doing this to follow the rules set by the U. S. government.

The two companies are BGC and Newmark. Lutnick is selling his shares for a total of $361 million. He is selling $234 million worth of shares in BGC and $127 million worth of shares in Newmark. This is a big deal because it shows how government rules can affect the business world.

Lutnick is also transferring his ownership in Cantor Fitzgerald into trusts. These trusts will benefit his children and be controlled by his son, Brandon Lutnick. This move is important because it shows how family dynamics can play a big role in business decisions.

Wall Street executives often have to sell their shares or put them in trust when they join the government. This is to avoid any conflicts of interest. The rules allow these sales to happen without immediate taxes on the gains. This is to attract top talent without punishing them for selling their assets.

Under the new deal, BGC is buying back Lutnick's class A shares, and Cantor Fitzgerald is buying his class B stock. Newmark will buy back his entire stake. This means that Lutnick is no longer directly involved in these companies.

The move also consolidates control of Cantor Fitzgerald in the hands of Brandon Lutnick. Brandon was named chair of the holding company in February. His brother, Kyle Lutnick, is also a key player in the future of the firm. This shows how the next generation is taking over in the business world.

Brandon Lutnick is seen as a rising force on Wall Street. He recently partnered with big names like SoftBank, Tether, and Bitfinex on a bitcoin-focused company. This shows how the crypto world is becoming more mainstream. Cantor Fitzgerald also named new co-chief executives and hired a new chief operating officer. This shows how the company is preparing for the future.

On Monday, Cantor also announced that 26North and Oak Hill Advisors became minority investors. This shows that the company is getting support from big investors. Brandon Lutnick said that this support underscores the confidence in their management team and growth strategy. This shows how important investor confidence is in the business world.

Howard Lutnick has been a key player in shaping the president's trade agenda. He has negotiated new tariff agreements with China and the EU. This shows how important his role is in the government. He was also considered for the position of U. S. Treasury secretary and was among Trump's top fundraisers. This shows how influential he is in the political world.

Other wealthy individuals have also used this mechanism to sell shares. This reduces conflicts of interest but also avoids millions of dollars of taxes. For example, Hank Paulson sold almost $500 million of Goldman Sachs shares in 2006 after he became Treasury secretary under President George W. Bush. This shows how common this practice is among top executives.

Big Moves: Trump's Commerce Secretary Shakes Up Wall Street

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