Defense Secretary Pete Hegseth speaks at a security conference in Singapore on May 31, 2025. Hegseth said in his remarks that countries in the Pacific should follow the lead of NATO members by boosting defense spending, and he singled out Germany for praise. (International Institute for Strategic Studies)

Key Takeaways Defense Secretary Pete Hegseth has built his wealth through his time as a host for Fox News, speaking engagements, and book royalties.Hegseth and his wife, former Fox News producer Jennifer Hegseth have a net worth of $3 million,

The drone attacks came on the eve of expected peace talks in Istanbul between Russia and Ukraine, which were already strained by uncertainty and pressure from U.S. President Donald Trump.

"The decisions that we make around defense spending are going to be driven by Australia’s national interest," said Defense Minister Richard Marles.

The U.K. will build new nuclear-powered attack submarines and create an army ready to fight a war in Europe as part of a boost to military spending

Treasury Secretary Scott Bessent said he believes President Trump and Chinese President Xi Jinping will speak soon, after Mr. Trump said China violated its trade agreement with the U.S.

U.S. Defense Secretary Pete Hegseth asked Australia to increase its defense spending to 3.5% of gross domestic product during a meeting with Australian Defense Minister Richard Marles, the Pentagon said on Sunday.

As far as I’m concerned, there’s nothing on the table for me to consider,” Gilberto Teodoro said in an interview.

US Secretary of Defense Pete Hegseth has asked Australia to dramatically raise its military spending to 3.5% of gross domestic product “as soon as possible,” according to an official readout of his meeting with Australia’s Defence Minister Richard Marles.

The British government is about to outline the biggest increase in defense spending since the end of the Cold War as it seeks to send “a message to Moscow.”