DETROIT, MICHIGAN – AUGUST 26, 2024: Former U.S. President Donald Trump addresses the 146th National Guard Association of the United States (NGAUS) General Conference and Exhibition hosted at The Huntington Place in Detroit, MI on August 26, 2024. (Photo by Adam J. Dewey/Anadolu via Getty Images)

WASHINGTON — President-elect Donald Trump announced late Tuesday night that he has selected John Phelan, a prominent financier and campaign donor, to become Secretary of the Navy.

“John will be a tremendous force for our Naval Servicemembers, and a steadfast leader in advancing my America First vision. He will put the business of the U.S. Navy above all else,” Trump wrote in a post on TruthSocial, the social media platform he started.

Phelan is the co-founder and chairman of Rugger Management, a private investment firm based in Palm Beach, Fla. The Hill reported he is also a donor to the Trump campaign and GOP-aligned efforts. It was not immediately clear if Phelan has any background or experience in national security.

Phelan is Trump’s second major pick for a spot as top brass at the Pentagon. Earlier this month, he selected Pete Hegseth, a co-host of Fox News’s “Fox & Friend Weekend” and a former infantry captain in the Army National Guard to serve as secretary of the defense.