Official announcement from President-elect Donald Trump or the White House

Trump to Nominate Scott Bessent, Soros Protégé and Hedge Fund Founder, as Treasury Secretary

Nov 12, 2024, 07:41 AM

President-elect Donald Trump is reportedly planning to nominate Scott Bessent, founder of macro hedge fund Key Square Group, as Treasury Secretary. Sources indicate that some of Trump's key advisers are backing Bessent for the position. Bessent previously served as chief investment officer at Soros Fund Management in the 1990s before launching his own fund with $2 billion from George Soros, leading some to describe him as a Soros protégé. Bessent recently appeared on Steve Bannon's 'War Room', signaling support from key figures in Trump's circle. Rival candidate John Paulson has reportedly withdrawn from consideration due to complexities in his financial affairs. An official announcement is expected soon.