Donald Trump Names Film Financier Steven Mnuchin National Finance Chairman

Steven Mnuchin, who has teamed with Brett Ratner and James Packer in the film financing company Ratpac-Dune Entertainment and was once co-chairman of Relativity Media, is taking on a new position: national finance chair for the campaign of Donald Trump.

“It’s a great privilege to be working with Mr. Trump to create a world class finance organization to support the campaign in the general election,” Mnuchin said in a statement released by the campaign on Thursday. 

Trump’s campaign said that he would be “putting up substantial money toward the general election,” but the appointment of a finance chairman is an indication that he will not completely self-fund the race. Trump’s campaign had been taking small-dollar contributions during the primary season in addition to the money that Trump lent the campaign.

“Steven is a professional at the highest level with an extensive and very successful financial background,” Trump said in a statement. “He brings unprecedented experience and expertise to a fundraising operation that will benefit the Republican Party and ultimately defeat Hillary Clinton.”

Mnuchin’s Dune Capital provided financing for box office successes like the “X-Men” franchise and “Avatar,” which is the all-time box office champion, along with “The Devil Wears Prada” and “Borat.” Ratpac-Dune, which started in 2013, has been a key financing partner for Warner Bros., with titles including “The Lego Movie,” “American Sniper” and “Batman v Superman: Dawn of Justice.”

Mnuchin also served in a brief tenure as co-chairman of Relativity Media, but he resigned his post in May, less than two months before the company filed for Chapter 11 bankruptcy protection. Mnuchin was also founder, chairman and CEO of OneWest Bank Group until he led the sale of the bank to CIT Group Inc. of New York for $3.4 billion. That deal was approved by federal regulators on July 21, and Mnuchin was named executive vice chairman of the combined company.

Last summer, Variety reported that Timothy Coleman, the financial adviser put in place to oversee Relativity during its bankruptcy, wrote that over the course of two months before the Chapter 11 filing, Relativity agreed to let OneWest take $32 million from accounts the studio received for use of its film library. Less than two weeks before the bankruptcy, on July 17, OneWest swept $17.9 million more from an account normally used to pay residuals and participation fees to performers, writers and others, according to Coleman’s declaration.

Mnuchin, a longtime arts patron in New York, also was a partner at Goldman Sachs, where he spent 17 years before forming his own company.

Like Trump, Mnuchin has a past history of donating to Democrats. Mnuchin contributed to Hillary Clinton’s Senate and 2008 presidential campaigns. In 2012, Mnuchin donated to Mitt Romney’s presidential campaign, according to Federal Election Commission records.

More Biz

  • Smoke haze covers the Sydney Harbour

    Australia's Seven West to Merge With Affiliate Prime Media

    Australia’s Seven West Media has agreed a deal to acquire regional broadcast group Prime Media. The move is a further step in the consolidation of Australia’s traditional media industry. The two companies announced on Friday that Seven will make the acquisition entirely through the issue of new shares to the owners of Prime. Both companies [...]

  • Ron Meyer

    Ron Meyer Files $10 Million Suit Over Forged Rothko

    NBCUniversal Vice Chairman Ron Meyer has filed a $10 million suit against two art dealers, claiming they sold him a forged Mark Rothko painting in 2001. Meyer accuses Susan Seidel and Jaime Frankfort of duping him into buying the work. According to the suit, he was told that it would be included in an official [...]

  • Former movie producer Harvey Weinstein (L)

    Harvey Weinstein Seeks to Call Expert on 'Recovered' Memories at Rape Trial

    Harvey Weinstein’s attorneys are seeking to call an expert on “recovered memories” at his trial on rape and sexual assault charges. The defense has filed a motion asking to call Deborah Davis, a psychologist and professor at the University of Nevada at Reno. Davis is a frequent defense witness. She co-authored an article in 2006 [...]

  • Tekashi 6ix9ine Docuseries Coming From Showtime

    Tekashi 6ix9ine Docuseries Coming From Showtime and Rolling Stone

    Showtime Documentary Films today announced a new limited docuseries profiling controversial rapper Tekashi 6ix9ine. Titled “SuperVillain” and inspired by the Rolling Stone feature written by Stephen Witt, the three-part series will trace how a New York City deli clerk named Daniel Hernandez became superstar rapper Tekashi 6ix9ine — who racked up 2.6 billion streams and [...]

  • Fader Label Logo

    Fader Label Signs Two New Acts, Boosts Staff

    The Fader Label, home to Clairo, Matt and Kim and others, announced two new signings today along with three new hires on its staff. Charlie Burg and Zachary Knowles have joined the label’s talent roster, while Carson Oberg has come aboard as general manager, Yasmine Panah as project manager and Josh Hymowitz as label coordinator. They [...]


    CBS-Viacom Merger Details Revealed, Shares to Trade on Nasdaq

    Negotiations between CBS and Viacom went down to the wire on the day the long-gestating transaction was finally sealed on Aug. 13. CBS Corp. and Viacom revealed the timeline of the merger talks in a Securities and Exchange Commission filing on Thursday that runs more than 650 pages. Also Thursday, CBS and Viacom said the [...]

  • Nile Rodgers and Merck Mercuriadis

    Hipgnosis Songs Raises Another $295 Million

    Hot on the heels of its deal to acquire a catalog of 108 Timbaland copyrights, Hipgnosis Songs has raised another $295 million (£231 million) — putting its total to nearly $800 million to date. According to the announcement, a total of 231,000,000 C Shares have been placed by Nplus1 Singer Advisory LLP  and J.P. Morgan [...]

More From Our Brands

Access exclusive content