After two weeks of speculation, Donald Trump on November 22, 2024, chose Scott as his likely Treasury Secretary. The Wall Street Journal says a Yale grad from South Carolina began his career as an options trader and securities analyst for a Saudi family’s investment firm. After working for short-seller James Chanos and interning with Jim Rogers, he joined Soros Fund Management in 1991. Continue reading to learn more about the recently elected Treasury Secretary, Scott Bessent net worth, career and other related information.
Who is Scott Bessent?
Scott Bessent has been designated by President-elect Donald Trump to serve as the next Treasury Secretary. In his announcement, Trump praised Bessent, a financial advisor and major donor to his 2024 campaign. He called Bessent “one of the world’s top investors and strategists.” Trump then described Bessent’s journey as “the American dream.” He also praised Bessent’s support for the America First agenda. Trump claimed that Bessent would bring change to the U.S. He said it would boost the economy and keep the dollar as the world’s reserve currency, on the eve of America’s 250th anniversary.
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Scott Bessent Net Worth
American hedge fund manager Scott Bessent has a $1 billion fortune. Scott Bessent is a well-known American hedge fund manager and investor. He was the CIO of Soros Fund Management and later founded Key Square Group. In South Carolina, he is the third wealthiest individual. President-elect Donald Trump declared in November 2024 that he will appoint Scott as his Secretary of the Treasury.
Bessent is well-respected in the hedge fund sector. He has a strong track record and good connections with influential people, like George Soros. His status as a prominent figure in global finance is now solid. He moved from managing a famous investment portfolio to starting a successful company. Unlike other hedge fund managers, Bessent has a low profile. This is despite his great wealth and success. He has, however, supported charities, especially the arts and education.
Scott Bessent Earnings
Bessent’s long tie to George Soros’s investing business was a key career period. He joined Soros Fund Management in 1991. He held several positions there, showing his skill in portfolio management and macro investing. He departed to seek other chances after working there for a number of years, but he remained close to Soros on a professional level. In 2011, Bessent reverted to his role as Chief Investment Officer at Soros Fund Management. He was tasked with overseeing the Soros family’s enormous fortune, which at the time was estimated to be worth $30 billion. Despite difficult market conditions, the fund continuously produced high returns under his direction.
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Scott Bessent Personal Life
Bessent has two kids with his husband, John Freeman, a former prosecutor in New York City. In July 2019, he took $19 million in cash. Scott purchased a historic estate in Charleston, South Carolina, for $6.5 million in June 2016.
