Trump also named No. 2 in the Department of Defense as the richest man...Undersecretary of Defense Policy Colby

U.S. President-elect Donald Trump has also selected a big name in the financial industry as the second-highest defense official.

Trump announced on the 22nd that he had nominated Stephen Feinberg, co-founder and CEO of private equity firm Cerberus Capital, as deputy secretary of defense.

Feinberg is a former chairman of the Intelligence Advisory Committee during the first Trump administration, reportedly valued at $5 billion.

Elbridge Colby, who served as deputy secretary of defense strategy and power development during Trump's first term, was named as deputy secretary of defense policy.

Trump said Colby would "work closely with Defense Secretary-designate Pete Hegseth as a respected advocate for U.S.-first foreign and defense policies to restore U.S. military power and implement a peace policy through strength."

Colby has called for South Korea to take full responsibility for its own defense and the U.S. Forces Korea to shift its focus to contain China at a time when China is emerging as the biggest security threat for the U.S.

Trump has named Michael Duffy, who has worked for Trump's first Pentagon and the White House Office of Budget Management (OMB), as undersecretary of defense for obtaining the department.

At the same time, Emile Michael, a former executive at shared-vehicle company Uber, was selected as undersecretary of defense for research and engineering, saying it would "save taxpayers money and make the U.S. military the most technologically sophisticated weapons in the world."

Trump previously nominated Stephen Miran, a former Harvard University Ph.D. in economics and a former Treasury economic policy adviser in the first term of power, as chairman of the White House Economic Advisory Committee (CEA).

"Steve will work with my economic team to achieve economic growth for all Americans."

Michael Krazios, who served as the first White House Chief of Technology (CTO) and acting undersecretary of research and engineering at the Department of Defense, was selected as the White House chief of science and technology policy.

It also nominated Sriram Krishnan, a former Microsoft, to consult on artificial intelligence (AI) appointment policy by the Office of Science and Technology Policy (OSTP),

Appointed Boheins, a former football player, to head the secretariat of the newly established Digital Asset Presidential Advisory Committee.

Scott Cooper, a partner at venture investment firm Andreessen Horowitz, has been named to head the Office of Personnel Management (OPM).