Steve Feinberg
Stephen Feinberg | |
|---|---|
| Born | March 29, 1960 The Bronx, New York City, U.S. |
| Occupation(s) | Entrepreneur, investor, government official |
| Years active | 1982–present |
| Known for | Co-founder and former CEO of Cerberus Capital Management; 36th United States Deputy Secretary of Defense |
Stephen Andrew Feinberg (born March 29, 1960) is an American entrepreneur and investor who has held the position of the 36th United States deputy secretary of defense since 2025. He co-established and formerly served as the chief executive officer (CEO) of Cerberus Capital Management, a prominent private equity firm. Feinberg also led the President's Intelligence Advisory Board from 2018 until 2021 during the initial Trump administration.
Early life and education
Born into a Jewish household, Feinberg grew up in The Bronx, New York City. When he was eight years old, his family relocated to Spring Valley, a suburb outside New York City. His father was employed as a steel salesman. Feinberg earned a Bachelor of Arts degree in politics from Princeton University in 1982, where his senior thesis was entitled "The Politics of Prostitution and Drug Legalization." During his time at Princeton, he captained the university tennis team and participated in the Reserve Officers' Training Corps.
Professional career
Following his graduation, Feinberg began his career as a trader at Drexel Burnham in 1982 before moving on to Gruntal & Co. In 1992, at age 32, he co-founded Cerberus Capital Management alongside William L. Richter with an initial capital of $10 million; by 2024, the firm’s assets under management had grown to over $60 billion. The company enhanced its leadership team by appointing former Vice President Dan Quayle as chairman of Cerberus Global Investment in 1999 and later bringing on former Treasury Secretary John Snow as chairman in 2006.
In May 2011, Feinberg identified residential mortgage-backed securities as a key investment prospect and highlighted opportunities to acquire assets from European financial institutions. He has openly recognized that compensation within private equity tends to be excessive and proposed that smaller fund sizes might generate superior returns for investors despite the costs associated with large organizational structures.
Known for his discretion, Feinberg cautioned Cerberus employees in 2007 against public exposure, underscoring the importance of strict internal confidentiality. From 2010 to 2020, Cerberus owned DynCorp, a leading private security contractor; this ownership raised concerns about potential conflicts of interest during Feinberg’s tenure on the President's Intelligence Advisory Board and following his appointment as Deputy Secretary of Defense.
Upon his swearing-in as the 36th United States Deputy Secretary of Defense in March 2025, Feinberg stepped down from his role as co-CEO of Cerberus Capital Management.
Early political involvement
Feinberg is recognized as a major Republican donor. In 2016, he participated on the Trump Economic Advisory Council during Donald Trump’s presidential campaign, contributed nearly $1.5 million to pro-Trump political action committees, and co-hosted a Republican National Committee and Trump fundraising event featuring $50,000-per-person tickets alongside other financiers. In February 2017, it was reported that President Trump intended to appoint Feinberg to lead a review of U.S. intelligence agencies.
On May 11, 2018, President Trump designated Feinberg as chairman of the President's Intelligence Advisory Board.
Together with his spouse, Feinberg contributed $715,600 toward Donald Trump’s 2020 presidential campaign.
He is also affiliated with The Business Council in Washington, D.C., an organization comprising CEOs from diverse companies who meet several times annually to engage in high-level policy discussions.
United States Deputy Secretary of Defense
On December 22, 2024, President-elect Donald Trump put forward Feinberg as his nominee for the position of United States deputy secretary of defense. This nomination prompted concerns from several Democratic senators, among them Elizabeth Warren, who questioned potential conflicts between Feinberg's management firm, Cerberus Capital Management, and the interests of the United States Department of Defense.
At his confirmation hearing on February 25, 2025, Feinberg refrained from explicitly confirming whether Russia had invaded Ukraine and expressed support for significant reductions in personnel within the Defense Department. The Senate confirmed him on March 14, 2025, by a vote of 59–40. He officially assumed office as the 36th United States Deputy Secretary of Defense on March 17, 2025.
Personal life
As of March 2025, Feinberg's fortune is estimated to be approximately US$5 billion. He splits his residence between an apartment on Manhattan's Upper East Side and a home in Greenwich, Connecticut, where he lives with his wife, Gisela (née Sanchez).