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The founding father of hedge fund Key Sq. Capital Administration has been introduced as Donald Trump’s decide for Treasury Secretary. Discover out extra about his monetary standing right here.
President-elect Donald Trump has nominated Scott Bessent as his selection for the following Secretary of the Division of the Treasury.
In his announcement, Trump praised Bessent, a monetary advisor and main donor to Trump’s 2024 presidential marketing campaign, calling him “broadly revered as one of many world’s foremost worldwide traders and geopolitical and financial strategists.”
Trump went on to explain Bessent’s journey as “the American dream” and highlighted his sturdy assist for the America First agenda. On the eve of America’s 250th anniversary, Trump mentioned Bessent would assist usher in a brand new period for the U.S., fortifying its world financial place and guaranteeing the U.S. greenback stays the world’s reserve foreign money.
Concluding his statement, Trump vowed that collectively, he and Bessent would “make America wealthy once more, affluent once more, inexpensive once more, and, most significantly, nice once more.”
Discover out extra about Bessent’s monetary standing and profession under.
What Is Bessent’s Web Price?
Bessent has a web value of $1 billion, in line with Celebrity Net Worth.
How Did Bessent Make His Cash?
Bessent, 62, is presently the founding father of the macro funding agency Key Sq. Group.
A local of South Carolina, Bessent earned a bachelor’s diploma in political science from Yale College in 1984 earlier than starting his profession in finance. In 1991, he joined Soros Fund Administration (SFM), the place he turned a associate all through the Nineteen Nineties and later served as head of the London workplace. Bessent gained widespread recognition for betting in opposition to the British pound, a transfer that earned SFM $1 billion. (He repeated this success in 2013 by betting in opposition to the Japanese yen, bringing in extra income.)
After resigning from SFM in 2000, Bessent based a $1 billion hedge fund, which closed in 2005. He then served as a senior funding advisor at Protégé Companions, a fund-of-funds agency. Bessent returned to SFM in 2011 as chief funding officer, a job he held till 2015. He left in 2015 to ascertain his personal agency, Key Sq. Group.
Is Bessent Married?
Bessent is married to former NYC prosecutor John Freeman and the 2 have two kids collectively.
If confirmed by the Senate, he would turn out to be the primary brazenly homosexual Secretary of the Treasury and the second brazenly homosexual Cupboard Secretary, following Pete Buttigieg.
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