Bill Pulte: From Twitter Philanthropy to Political Warfare at the FHFA
The Federal Housing Finance Agency, tasked with overseeing crucial US mortgage markets, is now led by an unlikely figure: Bill Pulte, a 37-year-old known as much for his prolific social media presence as his policy expertise. Pulte has become a vocal advocate for controversial actions, including publicly calling for the removal of Federal Reserve Chair Jerome Powell and initiating investigations into political adversaries of former President Donald Trump.
A Legacy of Housing and a Taste for Attention
Housing is deeply rooted in the Pulte family history. Pulte’s grandfather, also named Bill, founded PulteGroup, which grew into one of the nation’s largest home-building companies. The younger Pulte founded a Michigan-based private equity fund focused on the housing industry in 2011, with early backing from prominent figures like Rick DeVos, son of former Secretary of Education Betsy DeVos, and Scott Romney, brother of Mitt Romney.
However, Pulte first gained national attention not through business, but through viral generosity. In 2019, he began giving away money – sometimes hundreds, sometimes tens of thousands of dollars – on X (formerly Twitter), dubbing it “Twitter Philanthropy.” The giveaways, often tied to following or retweeting his account, rapidly expanded his online following from the tens of thousands to over 2 million by early 2020. This strategy even caught the attention of President Trump, who retweeted Pulte after he offered $30,000 to a veteran if the president did so.
Despite his growing fame, Pulte’s relationship with PulteGroup soured, leading to his removal from the company’s board in 2019.
From Meme Stocks to Political Battles
As “Twitter Philanthropy” waned, Pulte turned his attention to the 2021 meme stock craze, attempting to position himself as a finance influencer. He cultivated a following among investors in companies like GameStop and Bed Bath & Beyond, adopting the catchphrase “Only the Young” and hosting online events.
His involvement in the saga became particularly controversial when Bed Bath & Beyond’s stock plummeted, leaving many investors with significant losses. Pulte offered to purchase bonds for the struggling company, aiming to “demand answers” for shareholders, a move publicly distanced from by the Pulte Family Charitable Foundation, headed by his aunt, Nancy Pulte Rickard. Pulte responded with a scathing X post, accusing his aunt of being motivated by resentment over his inheritance.
This period cemented Pulte’s reputation for attracting both fervent supporters and dedicated detractors, who mocked him online as “Ploot.” Little did they know, a powerful position in the federal government was on the horizon.
Entering Trumpworld and Leading the FHFA
Pulte’s path to Washington D.C. was paved with political donations. He contributed $500,000 to a pro-Trump Super PAC in 2022 and also donated to Turning Point USA, a conservative organization co-founded by Charlie Kirk. Following Trump’s victory in November 2024, Pulte was floated as a potential candidate for Housing and Urban Development secretary.
Ultimately, Trump nominated him to lead the FHFA. Before his confirmation hearings, Pulte deleted tens of thousands of his old tweets, a move that drew criticism from Senate Democrats. After his confirmation in March, he immediately signaled his continued social media activity with an X post: “You didn’t really think I’d stop tweeting did you.”
The FHFA job carries significant weight, overseeing Fannie Mae and Freddie Mac, government-backed companies vital to the US mortgage market, which the Trump administration planned to reprivatize. However, Pulte has quickly demonstrated a willingness to use his position to pursue political objectives.
Targeting Trump’s Enemies and Challenging the Fed
Pulte has initiated investigations into individuals who have been critical of Trump, including New York Attorney General Letitia James and Senator Adam Schiff (D-CA), alleging mortgage fraud. In April, he sent a letter to the Justice Department requesting James’s prosecution, and in May, he did the same for Schiff. Pulte publicly announced the Schiff investigation on X, stating that Fannie Mae’s Financial Crimes Division had found a “sustained pattern of possible Mortgage Fraud.” Both James and Schiff have denied any wrongdoing and claim they are being politically targeted.
Simultaneously, Pulte has launched a public campaign against Federal Reserve Chair Jerome Powell, criticizing his policies and urging his resignation. He has argued that the renovation of the Fed’s headquarters constitutes a “scandal” justifying Powell’s removal.
“I remain optimistic Jerome Powell will do the right thing, and as early as next week,” Pulte posted on X on Friday.
Speculation has arisen regarding whether Trump might consider replacing Powell with Pulte himself, though National Economic Council director Kevin Hassett is currently considered the frontrunner. A Pulte nomination could face resistance in the Senate and from financial markets.
But, as Pulte has repeatedly demonstrated, social media can be a powerful force – and he’s only just getting started.
