Trump nominates Scott Bessent as Treasury Secretary

Scott Bessent has been nominated by President-elect Donald Trump to serve as the next Treasury Secretary. Bessent, a former chief investment officer, has gained Trump's trust as an economic advisor and is recognized for his expertise in international investing. Bessent has a notable background in finance, having worked with George Soros and Jim Chanos. He founded his own hedge fund, Key Square Group, in 2015, which managed approximately $577 million in assets as of December 2023. Bessent, who grew up in South Carolina, holds a degree in political science from Yale. He lives with his husband and their two children, and his current net worth is estimated at $1 billion.