• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

Meet a 71-year-old who retired as a radiologist and professor, and now runs a banana-skewer business: ‘I never want to retire. Why would you do that?’

3

Hilton received 12,000 Gen Z applications for just 72 internship spots—its CHRO says AI has made the hospitality gigs more competitive

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

Meet a 71-year-old who retired as a radiologist and professor, and now runs a banana-skewer business: ‘I never want to retire. Why would you do that?’

3

Hilton received 12,000 Gen Z applications for just 72 internship spots—its CHRO says AI has made the hospitality gigs more competitive
LeadershipDonald Trump

Another Goldman Sachs Alum Joins Donald Trump’s Campaign

By
Dan Primack
Dan Primack
Down Arrow Button Icon
By
Dan Primack
Dan Primack
Down Arrow Button Icon
August 17, 2016, 1:40 PM ET
SiriusXM's Coverage Of The Republican National Convention Goes Gavel-to-Gavel On Wednesday, July 20
CLEVELAND, OH - JULY 20: Michael Patrick Leahy talks with Stephen K. Bannon about a story he has been working on about high infection rates of tuberculosis rates within in refugee communities while appearing Brietbart News Daily on SiriusXM Patriot at Quicken Loans Arena on July 20, 2016 in Cleveland, Ohio. (Photo by Kirk Irwin/Getty Images for SiriusXM)Photograph by Kirk Irwin — Getty Images for SiriusXM
Google source logo
Add Fortune on Google for similar content.

Donald Trump has a penchant for Goldman Sachs bankers turned movie producers.

First it was Steve Mnuchin, who in May joined Trump’s campaign as national finance chairman. He also is Trump’s likely pick for Treasury Secretary, and is part of the GOP presidential candidate’s recently-announced economic advisory team.

Now it’s Steve Bannon, who overnight was named CEO of the Trump campaign.

Bannon made his bones as a mergers and acquisitions banker with Goldman Sachs (GS) beginning in the 1980’s, at the peak of Wall Street’s hostile takeover and junk bond booms. Most of his work was defending companies from such boardroom assaults ― in keeping with Goldman’s general stance on such things ― but he did later work on supporting some leveraged buyouts before moving into media and entertainment banking.

In 1990, Bannon and some Goldman colleagues left to launch a media-focused boutique investment bank called Bannon & Co. That lasted for eight years — including a fortuitous deal for a small equity stake in Seinfeld — before Bannon & Co. was purchased by French bank Société Générale.

Bannon remained around Hollywood for several years, financing and producing films. Eventually he would turn his media talent toward politics and, in particular, right-wing populism. In 2012 he became executive chairman of Breitbart News (following the death of site founder Andrew Breitbart), which this campaign season has become an unabashed mouthpiece for the Trump campaign.

After Fortune reported last month that Trump favors Steve Mnuchin for Treasury, several notable conservative commentators were aghast. And a bit confused, given Trump’s occasional criticisms of Wall Street, a Republican Party platform that includes breaking up the big banks and his rivals’ ties to Goldman Sachs (both Ted Cruz via wife Heidi, and Hillary Clinton via paid speeches).

Bannon is much further removed from his Goldman days than is Mnuchin, and isn’t being floated for Treasury, but it’s still another case in which the anti-establishment billionaire has partnered with someone who got rich in the corridors of power.

About the Author
By Dan Primack
See full bioRight Arrow Button Icon

Latest in Leadership


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Leadership


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.