U.S. President-elect Donald Trump on Tuesday said he was picking John Phelan, who co-founded MSD Capital, as Navy secretary.
Phelan is the founder of private equity firm Rugger Management LLC and previously served as the chairman and chief investment officer of the firm that oversaw the fortune of Dell Technologies founder Michael Dell. He is also on the board of the Spirit of America non-profit, a non-partisan group with a mission to support American troops abroad that has also supported troops in Ukraine.
"John will be a tremendous force for our Naval Service members, and a steadfast leader in advancing my America First vision," Trump said in a post on the social media site Truth Social."He will put the business of the U.S. Navy above all else."
Phelan was a major fundraiser for the Trump campaign, which included hosting a dinner for the president-elect at his home in Aspen, Col., in August.
Originally from Coral Gables, Fla., Phelan is a 1986 graduate of Southern Methodist University in Dallas, Texas, and has an MBA from Harvard Business School. He is also an avid art collector and on the Board of Trustees at the Whitney Museum of American Art and at the Aspen Art Museum.
"John will deliver real results for our Navy and our Country," reads Trump's statement."I look forward to working with him."
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