Financial disclosures or credible news reports confirming asset divestment

Trump's Treasury Nominee Scott Bessent, a Hedge Fund Manager, to Face Senate Confirmation and Divest Assets

Jan 11, 2025, 05:59 PM

Scott Bessent, President-elect Donald Trump's nominee for Treasury Secretary, is scheduled to face a confirmation hearing before the Senate Finance Committee on January 16, 2025. Bessent, a billionaire hedge fund manager nominated to replace Janet Yellen, plans to resign from Key Square Group and sell his share of the partnership to avoid conflicts of interest if confirmed. Financial disclosure forms reveal that Bessent holds assets worth in excess of $700 million, including property in the Bahamas and investments in Bitcoin and China's currency, which he intends to divest before assuming the role. Additionally, Bessent holds up to $500,000 in the BlackRock Bitcoin ETF, which he plans to sell prior to taking office.