The Swamp: Why Pete Hegseth’s Got 498,999 Problems (Trump Ain’t One)
Read a special extract from The Swamp, our must-read guide to what’s really happening in D.C.
The Swamp
Public service, much like broken marriages, can be a costly business.
Take Pete Hegseth, for instance, who forswore his north of $2 million Fox & Friends salary—almost all of the $4.6 million he made over the past two years—for a comparatively meagre $246,400 annual government wage. The steep wage reduction is particularly worrisome for a guy accused of drunken debauchery, sexual assault and mismanaging finances.
Supporting two ex-wives, raising seven children and paying who knows how many lawyers to successfully sweep a pile of stench under the rug can all get very expensive. After divorcing his second wife, Samantha, Hegseth was left with a $25,000 credit card bill, a $498,999 mortgage on a $600,000 family house and a 2005 Jeep Grand Cherokee.
Hegseth may find it tough to keep up with the demands of maintaining his all-American tailoring, not to mention his many, many other obligations on his new salary, just 10% of his old take-home.
John Lamparski/Getty Images
No doubt his finances are in better shape now but those sharp, blue suits, star-spangled socks and jars of hair gel come at a price and he’s no Elon Musk. Joining Ned’s, D.C.’s fancy new club, would seem appropriate for the new big gun in town, given Leon Black was one of the opening celebrities, but then membership is $5,000-a-year with a $5,000 signing-on fee. Can he expense it?
And to rub it in, he gets to sit at Trump’s Cabinet table next to billionaire Treasury Secretary Scott Bessent, who made some of his fortune in just one trade by betting against the UK pound and triggering the “Black Wednesday” calamity that almost wrecked the old country’s financial system.
And Bessent owns property in the Bahamas, not in Tennessee. At least, Hegseth can get some pointers from Marco Rubio, the poorest Trump pick. He’s been on a Senate salary since 2011. Sadly it’s too late for him to develop the art of picking stocks as well as Paul and Nancy Pelosi…
Pete, so cruelly maligned in Andy Borowitz’s column and (satirically) accused of drunkenly driving a tank into the Pentagon, may want to ask another new colleague, David Sacks, Trump’s AI and crypto czar, if he has a spare wing at his newly purchased four-bed $10.3 million pad in NW Washington. And it has 24/7 concierge if he needs a late-night tipple. No tank required.
Get the best of The Beast delivered right to your inbox
By clicking “SUBSCRIBE” you agree to our Terms of Use and Privacy Policy.
Daily Beast’s The Swamp is written by David Gardner, Mary Ann Akers and Juliegrace Brufke.
See more of our coverage in your search results.
Got a tip? Send it to The Daily Beast here.
Register below to read this article for free or subscribe
to unlock unlimited access to The Daily Beast.
Monthly
$1
First month then $5.99/month
Annual
$35
First year then $59.99/year
Premium
$79
First year then $119.99/year
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.
Already have an account? Sign In
Looks like you already have a subscription!
You're all set!
Thanks for subscribing.