A Family Affair: Lutnick's Sons Cash In on an A.I. Deal Frenzy

[dalton99a]

https://www.nytimes.com/2025/11/20/us/politics/howard-lutnick-family-ai.html

https://archive.ph/q76RN

Family Affair: Commerce Secretary’s Sons Cash In on A.I. Frenzy
Howard Lutnick is helping push data center projects. His family companies are profiting from them.
By Eric Lipton, Michael Rothfeld, David Yaffe-Bellany and Ana Swanson
Nov. 20, 2025

Kyle Lutnick, the 29-year-old scion of his family’s real estate business, traveled in July to Amarillo, Texas, to walk a dusty tract of land with the head of an artificial intelligence start-up called Fermi America.

He was touring the site of a future data center with Toby Neugebauer, a billionaire who is building one of the behemoth facilities that will power the next generation of A.I. Mr. Lutnick’s company was helping raise capital for the center, banking millions in fees in the process.

A month later, Kyle’s father, Howard Lutnick, was photographed with Mr. Neugebauer at an event near the White House that celebrated Fermi’s partnership with a South Korean company on the same data center project.

This sequence of events — a son making money on a project his father is boosting as a federal official — has come up repeatedly since President Trump tapped Howard Lutnick to head the Commerce Department, according to an investigation by The New York Times.

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