President-elect Donald Trump has announced his intention to nominate Bill Pulte as the next director of the Federal Housing Finance Agency. Pulte, a private equity executive and grandson of PulteGroup founder William Pulte, is best known for his philanthropic efforts on social media platforms.

In a Thursday post on his social media network Truth Social, President-elect Donald Trump announced his plan to nominate Bill Pulte as director of the Federal Housing Finance Agency (FHFA).  "Bill needs no formal introduction to the Great Citizens of our Country,

President-elect Donald Trump on Thursday nominated businessman and philanthropist Bill Pulte, who lives in Florida but whose family has deep ties to metro Detroit, to serve as director of the Federal Housing Finance Authority.

Bill Pulte will be Donald Trump's nominee to lead the Federal Housing Finance Agency, according to reports from multiple outlets on Thursday.

Pulte founded private equity firm Pulte Capital Partners in 2011 and is a philanthropist who has used social media to raise money. He is the grandson of real estate magnate William Pulte, the founder of publicly traded homebuilding construction and development company PulteGroup .

U.S. President-elect Donald Trump said on Thursday he would nominate Bill Pulte to be the next director of the Federal Housing Finance Agency (FHFA).

The private equity entrepreneur could take the job as the agency looks to release control of Fannie Mae and Freddie Mac.