Trump Pick of Billionaire Feinberg for Pentagon Bolsters Hegseth

Donald Trump’s choice of billionaire financier Stephen Feinberg as the No. 2 official at the Pentagon is part of a move by the president-elect to back up Pete Hegseth, his choice for defense secretary, with deputies focused on bringing in business experience and new technology.

Feinberg is co-founder and majority owner of Cerberus Capital Management LP and has a net worth of about $7.7 billion, according to the Bloomberg Billionaires Index. The private equity firm has major investments in defense technology companies. If confirmed by the Senate, Feinberg would hold a job historically focused on hands-on management of ...