All posts tagged "Steve Feinberg"

The Pentagon's billionaire second-in-command has sent a fortune in taxpayer money to a company that's tied to his old business.

Deputy Defense Secretary Steve Feinberg's department has paid $300 million to Alvarez & Marsal, a corporate turnaround consultancy and longtime partner of Cerberus Capital Management, the private equity firm Feinberg co-founded and ran, The Wall Street Journal reported Thursday.

The payments, which come on top of work already done by government employees, were described in documents reviewed by The Journal and by people familiar with the matter. They are part of Feinberg's sweeping push to overhaul how the military builds and buys weapons....

Defense Secretary Pete Hegseth's top deputy is on the chopping block amid a leadership shakeup at the Pentagon, according to a new report.

Three anonymous sources familiar with discussions told Reuters Saturday that the White House is looking for a replacement for Deputy Secretary of Defense Steve Feinberg.

Feinberg is Hegseth's second-in-command at the Defense Department and is the billionaire co-founder of the private equity firm Cerberus Capital Management, which, per the Washington Post, has investments in companies that maintain Pentagon contracts....