Washington: Donald Trump, who won the US presidential election, may appoint entrepreneur Trae Stephens or billionaire investor Stephen Feinberg as the deputy secretary of defense, the Wall Street Journal reported citing sources.
The newspaper recalls that Stephens is a co-founder of the defense technology company Anduril Industries and a partner at billionaire Peter Thiel’s venture capital firm Founders Fund. Feinberg founded one of the world’s largest private equity funds, Cerberus Capital Management. The publication suggests that the appointment of one of them will serve as a good sign for startups that have emerged in the defense sector in recent years.
Feinberg previously chaired the presidential intelligence advisory board during Trump’s first term, the publication recalled.
The newspaper noted that both Stephens and Feinberg had pushed for investing in areas where they believe the US government had not acted quickly enough. Feinberg decided to invest in hypersonic technologies, concerned that the US was lagging behind competitors like China. According to the publication, Stephens also warned that US defense companies had lost their advantage, while China was innovating faster.
In addition to Stephens and Feinberg, other candidates are also being considered, including from the Pentagon, the publication said.
Trump’s inauguration is set to take place on January 20.
