Lutnick's son held 75.1% of BGC voting power after the divestiture
Reporting and findings
- documented
BGC's 2025 annual report says Howard Lutnick had no voting power after divestiture, while his son Brandon controlled Cantor entities holding 109.4 million Class B shares and about two million Class A shares, representing 75.1% of BGC's voting power as of February 27, 2026.
- U.S. Securities and Exchange Commission: BGC Group, Inc. 2025 annual reportLeadership succession, divestiture, family-control, voting-power, and business-description sections
- U.S. Securities and Exchange Commission: BGC Group Form 8-K reporting completion of Howard Lutnick's divestitureItem 5.02; completion of Lutnick's divestiture and resulting voting and dispositive power
- Associated Press: Trump's Commerce Secretary nominee, Howard Lutnick, vows to sell his business interests in 90 daysPassages identifying Lutnick as Trump's Commerce nominee, his former Cantor leadership, and his announced divestiture pledge
Summary and current status
Formal control moved within the family rather than to an arm's-length buyer.
Family control reported as of February 27, 2026
People and organizations
- Howard LutnickTrump-appointed commerce secretary and former Cantor Fitzgerald chief
- Donald J. Trumpappointing president and cabinet principal for Howard Lutnick
- Cantor Fitzgerald, L.P.controlling shareholder structure
- BGC Group, Inc.family-controlled public company
Relationships in this file
- Cantor Fitzgerald, L.P.held 75.1% voting power through Lutnick family controlBGC Group, Inc.
- Donald J. TrumpTrump-appointed commerce secretary and former chief of Cantor FitzgeraldHoward Lutnick
Figures
BGC voting power controlled through Cantor entities75.1% Calculation details
- Basis
- Observed
- Population
- BGC voting power controlled by entities under Brandon Lutnick after Howard Lutnick's divestiture
- Period
- 2026-02-27 to 2026-02-27
- As of
- 2026-02-27
- Method
- Direct observation: the voting-power percentage from BGC's annual report.
- Uncertainty
- Family control after divestiture is distinct from Howard Lutnick personally retaining voting power; the filing says he had none.