US President Trump’s Cabinet is worth a combined $14 billion, and they are catching flak in recent weeks for confessing an inability to keep track of their vast sums of wealth.

But private bankers who work with the ultra rich say that if they had a dollar for every time a client forgot about a million, they would be, well, almost as rich as their clients, the Daily Mail reports.
“We see it all the time,” with new clients, said Chris Walters of GenSpring Family Offices, SunTrust Bank Inc’s branch for clients with more than $50 million in assets. “It’s not that they are surprised they own the asset. They just omitted it in the inventory.”

 

Steven Mnuchin, a former Goldman Sachs Group Inc partner who is Trump’s pick to lead the US Treasury Department, was grilled by members of the Senate last week for inadvertently failing to disclose more than $100 million in real estate.
On Tuesday, the nominee for head of the budget office, Mick Mulvaney, said he did not realize he needed to pay $15,000 in federal taxes for a nanny until scrutinizing his finances more closely for confirmation proceedings.