Private equity billionaire Stephen Feinberg confirmed as Deputy Secretary of Defense
Published on March 20, 2025
The US Senate confirmed Stephen Feinberg, co-founder of private equity giant Cerberus Capital Management, as the new Deputy Secretary of Defense in a 59-40 vote.
His confirmation strengthens the administration’s leadership at the Pentagon, where he will oversee the department’s vast operations and budget reforms.
Feinberg, known for restructuring distressed businesses, told lawmakers during his confirmation hearing that he aims to apply private sector efficiency to the Pentagon. He pledged to reassess legacy programs and acquisition strategies, with a goal of redirecting 8% of the defense budget to high-priority initiatives.
During the hearing, Feinberg faced scrutiny over the administration’s plan to cut the Pentagon’s civilian workforce by 5% to 8%, a move he said he could not yet address. He also avoided direct commentary on Russia’s invasion of Ukraine, stating that he would defer to the administration’s official stance.