Birthday: December 21, 1962
T V & Movie Producers
Age: 57 Years, 57 Year Old Males
Sun Sign: Sagittarius
Also Known As: Steven Terner Mnuchin
Born Country: United States
Born in: New York, New York, United States
Famous as: United States Secretary of the Treasury
Height: 6'0" (183 cm), 6'0" Males
Spouse/Ex-: Louise Linton (m. 2017), Heather deForest Crosby (m. 1999–2014)
father: Robert Mnuchin
mother: Elaine Terner Cooper
siblings: Alan Mnuchin
children: Dylan Mnuchin, Emma Mnuchin, John Mnuchin
U.S. State: New Yorkers
education: Yale University, Riverdale Country School, Hopper College
Steven Mnuchin is an American former investment banker and former film producer who currently serves as the 77th United States secretary of the treasury. He had a 17-year-long stint with 'Goldman Sachs' before he started his own firms. He launched 'OneWest Bank,' which became infamous for its alleged unethical banking practices. Even before founding ‘OneWest,’ Steven had been in issues with the law. As the founder of 'Dune Entertainment,' which later became 'RatPac–Dune Entertainment,' he produced many blockbuster movies such as the 'X-Men' film series, 'Avatar,' 'Batman v Superman: Dawn of Justice,' 'Wonder Woman,' and 'The Lego Movie' franchise. He gave up his business interests as soon as he was nominated for and later appointed as the secretary of the treasury.
Childhood & Early Life
Steven Terner Mnuchin was born on December 21, 1962, in New York City, U.S.A.
He was the second-youngest son of Elaine Terner Cooper and Robert E. Mnuchin. Robert and Elaine divorced later.
Elaine had served as the vice-president of the ‘International Directors' Council’ of the ‘Solomon Guggenheim Museum.’ Robert worked with 'Goldman Sachs' for 33 years and was made a general partner and a member of the management committee. Robert also founded the art gallery known as the 'Mnuchin Gallery.'
After graduating from the 'Riverdale County School' in New York City, Steven Mnuchin earned his bachelor's degree in economics from 'Yale University,' New Haven, Connecticut, U.S.A.
In the early 1980s, he worked as a trainee with the investment bank 'Salomon Brothers.'
At ‘Yale,’ he was the publisher of the 'Yale Daily News.' In his senior year, he was inducted into the ‘Yale’ undergraduate senior secret student society named 'Skulls and Bones.'
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Immediately after his graduation, Steven Mnuchin started working with the mortgage department of ‘Goldman Sachs.’
In 1994, he became a partner at the organization and the head of the mortgage securities department. He served until the end of 1998.
As a partner, he was in charge of various divisions and departments in the organization. In December 1999, he was made a member of the executive committee and co-head of the technology operating committee and served in this position until February 2001. The same month, he became the executive vice-president and co-chief information officer.
In 2002, when he quit ‘Goldman Sachs,’ he was the executive vice-president, a member of the management committee, and the chief information officer of the organization. For a brief period that year, he worked as the vice-chairman of the hedge fund 'ESL Investments,' owned by Edward Lampert, his roommate at ‘Yale.’
The following year, along with billionaire investor George Soros, he co-founded the company 'SFM Capital Management.'
In 2004, he co-founded the hedge fund 'Dune Capital Management,' along with two former ‘Goldman’ partners. He was appointed as the CEO of the firm. The company invested in two of Trump's projects.
Steven Mnuchin and a group of investors, including George Soros, acquired 'IndyMac,' a residential lender based in California. They renamed it 'OneWest Bank.'
‘OneWest’ acquired a few more loss-making banks. Within a year, it made profits and acquired assets worth $27 billion, which made it Southern California's largest bank.
The ‘CIT Group' purchased ‘OneWest’ for $3.4 billion in 2015. He was appointed as a member of the board of directors of ‘CIT.’
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After being chosen as the secretary of the treasury, he resigned from his post at ‘CIT.’
In 2004, Steven Mnuchin founded 'Dune Entertainment' as a part-time business. In 2006, he began co-financing films for '20th Century Fox.' Some of the big-budget movies under his production were the 'X-Men' movie series, 'Avatar,' 'Night at the Museum' and its sequel, and the 'Alvin and the Chipmunks’ franchise. The contract expired in 2012.
He entered into an agreement with 'RatPac Entertainment' and formed the company ‘RatPac–Dune Entertainemnt, LLC' in September 2013.
In November 2013, they signed a 4-year deal with 'Warner Bros. Entertainment Inc,' which ended in 2018.
During this period, he had worked as an executive producer for many movies, such as 'The Lego Movie' franchise, the 'Annabelle' movie series, 'Batman v Superman: Dawn of Justice,' and 'Wonder Woman.'
He later relinquished his post, as he was selected as the secretary of the treasury.
Secretary of the Treasury
On November 30, 2016, president-elect Donald Trump announced that he would nominate Steven Mnuchin as the secretary of the treasury. His nomination was approved by the 'United States Senate Committee on Finance' on February 1, 2017. He was elected as a secretary of the treasury on February 13, 2017, by a vote of 53–47.
He has supported Trump's policies on technology, environment, tax reforms, and foreign trade.
In 2008, Trump sued 'Dune Capital Management,' but the dispute was later settled. The same year, Steven was sued by a trustee of 'Bernard Madoff Securities.’ However, he was spared due to time limitations.
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Since 2009, 'OneWest Bank' has been accused of unethical practices, such as foreclosure of the home loans of delinquent borrowers. In October 2011, around a hundred protestors assembled before Steven's house because of this issue.
As he was chosen to be the secretary of the treasury, he divested from his earlier businesses. However, in May 2017, it was claimed that his then-fiancée (now wife), Louise, had replaced him as the interim CEO of ‘Dune Entertainment’ with effect from February 2017. This move was questioned by one of the senators. Toward the end of May, Louise resigned from her post.
In March 2017, his statement in the 2017-animated movie 'The Lego Batman Movie' appeared to be an endorsement of a film he was involved in. This made people question his ethics.
Since his appointment as the secretary of the treasury, he has come under heavy criticism for using and intending to use government aircraft and military jets for his personal trips.
The set of leaked electronic documents called 'Paradise Papers,' which initially became public on November 5, 2017, mentioned his name and his offshore entities.
Brett Ratner, one of the founders of 'RatPac–Dune Entertainment,' was accused of sexual harassment in 2017.
In 2019, 'Sears Holdings Corporation' sued Steven, who was on its board, for asset stripping.
Personal Life & Family
Steven Mnuchin was married to Kathryn Leigh McCarver from 1992 to 1999.
In 1999, he married Heather deForest Crosby. They had three children. They divorced in 2014. Heather is a philanthropist and an AZIAM yoga practitioner.
On June 24, 2017, Mnuchin married actor Louise Linton.