President Trump said at an Iowa rally Wednesday he prefers to have "great, brilliant business minds" rather than a "poor person" in top economic roles in his administration.

Touting Commerce Secretary Wilbur Ross's wealth, Trump said some of his Cabinet members had to "give up a lot" to accept roles in his administration.

"Somebody said, 'Why did you appoint a rich person to be in charge of the economy?' No, it's true. And Wilbur's a very rich person in charge of commerce," Trump said.

"I said, ‘Because that's the kind of thinking we want ... because they're representing the country. They don't want the money.'"

Trump, who has several Wall Street veterans in his administration, said hiring top business leaders means other countries will be less likely to take advantage of the U.S.

"We can't have the world taking advantage of us anymore. And I love all people, rich or poor, but in those particular positions, I just don't want a poor person. Does that make sense?" he said.