Former Democratic donor and Soros partner is Trump’s pick for Treasury
By Simone Del Rosario (Business Correspondent), Brent Jabbour (Senior Producer), Emma Stoltzfus (Video Editor), Ali Caldwell (Motion Graphics Designer), Heath Cary (Motion Graphics Designer)
Elon Musk criticized him as the “business-as-usual choice” for Treasury, but markets are cheering on routine. President-elect Donald Trump announced Scott Bessent is his pick for Treasury secretary, ending an internal battle over the top economic post that some described as a knife fight.
But there’s a bullet point in Bessent’s resume that has rubbed some on the Right the wrong way. He’s the former chief investment officer for liberal billionaire George Soros, once a partner at Soros Fund Management and a major Democratic donor.
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Trump Chooses Bessent To Be Treasury Secretary, Vought As Budget Chief, Chavez-DeRemer For Labor
Click to see story on HuffPost‘Home run’: Republican pleased as Trump reportedly offers key role to Wall Street insider
Click to see story on Raw StoryDonald Trump’s government formation: Hedge fund manager to become US Treasury Secretary
Click to see story on TAZTrump picks hedge fund billionaire Bessent to run Treasury
Click to see story on SalonPresident-Elect Donald Trump Went On An Appointing Spree Friday Night
Click to see story on Vanity FairDonald Trump’s Interesting Pick for Treasury Secretary – Advertising and Donations – advertising-newsandtimes.com
Click to see story on The New YorkerHedge fund chief and tariff fan Scott Bessent to lead Treasury under Trump • Nebraska Examiner
Click to see story on Nebraska ExaminerTrump nominates gay man for Treasury secretary – Dallas Voice
Click to see story on Dallas VoiceHedge fund chief and tariff fan Scott Bessent to lead Treasury under Trump • Alabama Reflector
Click to see story on alabamareflector.comHedge fund chief and tariff fan Scott Bessent to lead Treasury under Trump – The Lexington Times
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Click to see story on scdailygazette.comU.S. President-elect Trump taps Bessent as Treasury Secretary, Chavez-DeRemer as Labor Secretary and Dr Nesheiwat as Surgeon General
Click to see story on The HinduTrump taps Brooke Rollins for agriculture; Pam Bondi for attorney general: Live
Click to see story on The IndependentScott Bessent, a former Soros money manager, is Donald Trump’s pick to lead the U.S. Treasury
Click to see story on CBC NewsTrump raced to pick many Cabinet posts. He took more time to settle on a treasury secretary
Click to see story on Associated Press NewsTrump Names Billionaire Hedge Fund Manager Scott Bessent As Treasury Chief
Click to see story on NDTVWho is Scott Bessent? Donald Trump’s pick for treasury secretary
Click to see story on Hindustan TimesWho has Trump picked for his Cabinet? Scott Bessent, Lori Chavez-DeRemer join nominees
Click to see story on USA TodayWhat to know about Scott Bessent, Trump’s pick for treasury secretary
Click to see story on abc NewsTrump names billionaire Scott Bessent as Treasury secretary pick
Click to see story on CNNHow Soros protege went from Hillary Clinton donor to Trump’s Treasury secretary pick
Click to see story on Sydney Morning HeraldTrump expected to pick Scott Bessent as treasury secretary
Click to see story on The Washington PostTrump selects treasury secretary, labor secretary and other positions
Click to see story on CBS NewsBillionaire, gay, former Democrat donor: Meet Scott Bessent, Trump’s pick for Treasury secretary – Advertising and Donations – advertising-newsandtimes.com
Click to see story on Indian ExpressUSA: Trump wants to make hedge fund manager finance minister
Click to see story on Sueddeutsche ZeitungTrump names hedge fund manager Scott Bessent as Treasury secretary, announces other picks
Click to see story on Los Angeles TimesTrump Team Preparing to Announce Bessent as Treasury Secretary
Click to see story on BloombergTrump chooses Bessent to be Treasury secretary and Vought as top budget official
Click to see story on Coast ReporterTrump nominates Scott Bessent for Treasury secretary
Click to see story on Business InsiderTrump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
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Click to see story on NBC NewsScott Bessent’s Husband: Is the Billionaire Secretary of Treasury Nominee Married?
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Click to see story on The Korea TimesTrump chooses billionaire Bessent as the new Secretary of the Treasury. Founder of an investment firm, he worked with Soros
Click to see story on Il Fatto QuotidianoDonald Trump reassures Wall Street by naming billionaire financier Scott Bessent to the Treasury
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Click to see story on Japan TodayPresident-elect Trump chooses Scott Bessent to be Treasury secretary
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Click to see story on Taipei TimesTrump appoints Scott Bessent as Treasury Secretary
Click to see story on TVA NouvellesTrump for investor and hedge fund manager Scott Bessent as Treasury Secretary
Click to see story on der Standard ATWho is Scott Bessent, appointed US Secretary of the Treasury by Donald Trump?
Click to see story on LiberationTrump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
Click to see story on WISH-TVTrump nominates billionaire as possible new Treasury Secretary
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Click to see story on NBC BostonTrump names billionaire Scott Bessent as Treasury secretary pick – WSVN 7News | Miami News, Weather, Sports
Click to see story on WSVNUnited States: Donald Trump appoints Scott Bessent as Secretary of the Treasury
Click to see story on France InfoTrump chose Scott Bessent as Treasury Secretary
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Click to see story on CGTNWhy CEOs Are Cheering Donald Trump’s Pick for Treasury Secretary
Click to see story on Time MagazineTrump names hedge fund manager Scott Bessent as Treasury chief
Click to see story on The JournalTrump Prepares to Name Bessent as Treasury Secretary, Bloomberg Reports
Click to see story on U.S. NewsTrump picks Treasury secretary who once made fortune attacking the pound
Click to see story on iNewsTrump picks billionaire Scott Bessent as finance minister
Click to see story on RTV SlovenijaTrump appoints billionaire Scott Bessent as Treasury Secretary
Click to see story on PúblicoTrump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
Click to see story on Orlando SentinelTrump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
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Click to see story on The Delaware County Daily TimesTrump taps investor Scott Bessent as Treasury Secretary – West Hawaii Today
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Click to see story on CBS58Trump to tap investor and hedge fund manager Scott Bessent to lead Treasury department, say sources
Click to see story on Fast CompanyTrump nominates investment manager Scott Bessent, a gay man, as Treasury secretary
Click to see story on The AdvocateTrump Makes His Pick for Treasury Secretary
Click to see story on NewserTrump taps Scott Bessent as Treasury secretary
Click to see story on SemaforHedge fund chief and tariff fan Scott Bessent to lead Treasury under Trump • Pennsylvania Capital-Star
Click to see story on Pennsylvania Capital-StarTrump nominates gay man for Treasury secretary
Click to see story on meaws.comHedge fund chief and tariff fan Scott Bessent to lead Treasury under Trump • Iowa Capital Dispatch
Click to see story on Iowa Capital DispatchScott Bessent, Trump’s pick for Treasury secretary, will be in charge of tariffs that could impact women hardest
Click to see story on The 19thTrump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
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Click to see story on RocketNewsHedge fund chief and tariff fan Scott Bessent to lead Treasury under Trump • Michigan Advance
Click to see story on Michigan AdvanceTrump nominates Scott Bessent to lead US Treasury
Click to see story on BBC NewsTrump chooses Bessent to be Treasury secretary and Vought as top budget official
Click to see story on CTV NewsTrump prepares to name Scott Bessent as treasury secretary, media report
Click to see story on ReutersANALYSIS Trump’s sure choice for the Treasury suggests he doesn’t want to shake Wall Street
Click to see story on KIFITrump anuncia oficialmente al millonario Scott Bessent como su elección para secretario del Tesoro
Click to see story on KRDOWhat’s next for Chinese yuan as Trump taps Soros protégé for US Treasury chief
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Click to see story on KVIA‘Three-way tie:’ Trump Treasury pick hanging in limbo
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Click to see story on Winnipeg Free PressTrump Picks Hedge Fund Exec Scott Bessent As Treasury Secretary: What President-Elect’s Choice Means For America’s Economic Future – SPDR S&P Bank ETF (ARCA:KBE), SPDR S&P Regional Banking ETF (ARCA:KRE)
Click to see story on BenzingaUS Treasury pick Bessent ‘is a fiscal hawk’
Click to see story on WIONTrump picks hedge fund manager for treasury secretary
Click to see story on VOA NewsTrump picks Scott Bessent for Treasury, capping long drama over choice | Honolulu Star-Advertiser
Click to see story on Star AdvertiserTrump chooses Bessent for treasury secretary, Vought for budget director
Click to see story on UPIANALYSIS Trump’s sure choice for the Treasury suggests he doesn’t want to shake Wall Street
Click to see story on Washington Top NewsTrump expected to pick Bessent to be US treasury secretary, sources say
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Click to see story on WPLGDonald Trump chooses Scott Bessent to be Treasury secretary and Ruseel Vought as top budget official
Click to see story on Chicago TribuneTrump chooses former NFL player Scott Turner to be his housing secretary
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Click to see story on Portland Press HeraldPresident-elect Trump chooses Scott Bessent to be Treasury secretary
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Click to see story on Pioneer PressTrump wants hedge fund manager as Treasury Secretary
Click to see story on Deutsche WelleScott Bessent at the Treasury, this is how Trump disappointed Elon Musk’s expectations
Click to see story on Corriere Della SeraPresident-elect Trump chooses Scott Bessent to be Treasury secretary
Click to see story on WCVBPresident-elect Trump chooses Scott Bessent to be Treasury secretary
Click to see story on WLWTHow Scott Bessent Won the ‘Knife Fight’ for Treasury
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Click to see story on France24Trump raced to pick many Cabinet posts. He took more time to settle on a treasury secretary
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Click to see story on KSBW‘Three-way tie’: Trump Treasury pick hanging in limbo
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Click to see story on Florida PoliticsTrump taps investor Scott Bessent as Treasury secretary – Hawaii Tribune-Herald
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Click to see story on TASS [🇷🇺-affiliated]Scott Bessent’s rise through finance to the US Treasury
Click to see story on The Straits TimesTrump set to pick Bessent as next Treasury secretary
Click to see story on Washington ExaminerTrump’s Treasury Pick Wants Shadow Fed Chair, Maybe Weak Dollar
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Click to see story on la NacionTrump picks SC native to lead US Treasury department. The choice had seemed anything but certain.
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Click to see story on The BlazeUPDATED: Confirmed: Trump Taps Billionaire Hedge Fund Manager to Lead Treasury: Trump Weighs In
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Click to see story on The Star News NetworkDonald Trump to tap Scott Bessent for <br/>Treasury secretary, ending fierce battle <br/>for key job: sources
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FT: Donald Trump chooses Scott Bessent as Secretary of the Treasury
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Click to see story on newsblur.comIn 2000, Bessent co-hosted a Democratic National Committee fundraiser at his East Hampton, New York, home, featuring Vice President and presidential candidate Al Gore.
He’s since switched his donations to the Right. In 2015, Bessent founded the hedge fund Key Square Capital Management. In 2016, he donated to the Trump campaign.
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Trump has described him as “one of the most brilliant men on Wall Street.”
The flattery is mutual.
“I’ve been in the investment business 35 years and Donald Trump is the most sophisticated leader on economics that I’ve met,” Bessent said on Fox Business before being tapped as Treasury secretary.
Bessent hasn’t been a mainstay of Trump’s inner circle like a lot of his other cabinet picks. Instead, the hedge fund manager reportedly won over the president-elect with his 3-3-3 plan:
- Cut the budget deficit to 3% of GDP by the final year of Trump’s term. It’s about 6% today.
- Boost GDP growth to 3%. Real GDP growth was 3% in the second quarter of 2024 and a third-quarter advance estimate has it at 2.8%.
- Get Big Oil to boost production by another 3 million barrels of crude per day.
Bessent gets the Treasury nod as a deficit hawk just as the national debt crossed the $36 trillion mark. But he isn’t just making his mark in budgets. Earlier this year, he was behind the controversial proposal to have Trump nominate a shadow Federal Reserve chair to undermine current chair Jerome Powell.
“Trump could just nominate and confirm the next Fed chair, after Jay Powell, and just have this Fed chair go around and give all sorts of speeches and influence the markets,” the Fed Guy Joseph Wang explained to Straight Arrow News. “In that way, that’s very creative. I don’t know that it will happen.”
Bessent has since backed off that plan and Powell has made clear he will firmly remain in his chair until 2026.
A Treasury secretary runner-up, former Fed governor Kevin Warsh, has also been floated as the man to replace Powell as Fed chair when his term expires.
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As for Bessent, investors seemed to like the moderate pick on Monday, Nov. 25, the first trading day since the announcement.
Stocks and bonds were up as analysts said investors preferred a more predictable choice. As for the guy he was supposedly in a “knife fight” with, last week Trump tapped billionaire Howard Lutnick for Commerce secretary instead.
Simone Del Rosario: Elon Musk criticized him as the business-as-usual choice for Treasury, but markets are cheering on routine.
President-elect Donald Trump announced Scott Bessent is his pick for Treasury secretary, ending an internal battle over the top economic post that some described as a knife fight.
But there’s a bullet point in Bessent’s resume that has rubbed some on the right – the wrong way. He is the former chief investment officer for liberal billionaire George Soros, once a partner at Soros Fund Management, and a major Democratic donor.
Here he is with Vice President and presidential candidate Al Gore at a DNC fundraiser in the year 2000.
He has since switched his donations to the right. In 2015, Bessent founded the hedge fund Key Square Capital Management. Trump has described him as “one of the most brilliant men on Wall Street.” And the flattery is mutual.
Scott Bessent: I’ve been in the investment business 35 years and Donald Trump is the most sophisticated leader on economics that I’ve met.
Simone Del Rosario: Bessent has not been a mainstay of Trump’s inner circle like a lot of his other cabinet picks. Instead, the hedge fund manager reportedly won over the president-elect with his 3/3/3 plan. That is:
-Cut the budget deficit to 3% of GDP by the final year of Trump’s term. It’s about 6% today.
-Boost GDP growth to 3%, but news flash, it was already 3% in Q2 of this year. So … keep it up.
-And get Big Oil to boost production by another 3 million barrels of crude per day.
Bessent gets the Treasury nod as a deficit hawk just as the national debt crossed the $36 trillion mark.
But he isn’t just making his mark in budgets. Earlier this year, he was behind the controversial proposal to have Trump nominate a shadow Federal Reserve chair to undermine current chair Jerome Powell.
Joseph Wang: Trump could just nominate and confirm the next Fed chair, after Jay Powell, and just have this Fed chair go around and give all sorts of speeches and influence the markets in that way that’s very creative. I don’t know that will happen.
Simone Del Rosario: Bessent has since backed off that plan and Powell’s behind is firmly in his chair until 2026.
Victoria Guida: Some of the President-elect’s advisors have suggested that you should resign if he asked you to leave, would you go?
Jerome Powell: No.
Victoria Guida: Can you follow up on, is, do you think that legally you’re not required to leave?
Jerome Powell: No.
Simone Del Rosario: A Treasury secretary runner-up, former Fed governor Kevin Warsh, has also been floated as the man to replace Powell as Fed chair when his term expires.
As for Bessent, investors seemed to like the moderate pick on Monday, the first trading day since the announcement. Stocks and bonds were up as analysts said investors preferred a more predictable choice. As for the guy he was supposedly in a “knife fight” with, last week Trump tapped billionaire Howard Lutnick for Commerce instead.
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Click to see story on CoinscreedTrump Announces His Nominee to Lead the Treasury Department
Click to see story on noticiaslatam.latTrump appoints billionaire investor Scott Bessent as the new Treasury Secretary
Click to see story on bolsamania.comTrump’s pick for Treasury Secretary has investors hopeful that he’ll take the sting out of ‘America First’ trade policies – WeirdReads
Click to see story on weirdreads.comFinancial News Network – Trump nominates Scott Bessent as treasury secretary; picks Russ Vought to lead budget office
Click to see story on financialnewsnetwork.comThe Treasury Secretary’s Mystery Ended: Trump Chooses Investor Scott Bessent
Click to see story on voz.usTrump raced to pick many Cabinet posts. He took more time to settle on a treasury secretary
Click to see story on insidepolitic.co.zaDonald Trump Announces Investor Scott Bessent as U.S. Treasury Secretary
Click to see story on entrelineas.com.mxTrump appoints Scott Bessent as Treasury Secretary
Click to see story on La RazónWall Street Financier Scott Bessent Chosen to Lead U.S. Treasury Department – Hubli Express
Click to see story on hubliexpress.comTrump Chooses Scott Bessent as the New US Treasury Secretary
Click to see story on cryptotale.orgDonald Trump Appoints Scott Bessent as New Treasury Secretary
Click to see story on www.agenciapi.coTrump Nominates Hedge Fund Exec Bessent to Lead Treasury Department
Click to see story on CPA Practice AdvisorDonald Trump chooses hedge fund executive Scott Bessent for Treasury secretary | Hedge Fund News From HedgeCo.Net
Click to see story on hedgeco.netTrump Taps Billionaire Hedge Fund Manager Scott Bessent For Treasury Secretary
Click to see story on domigood.comANALYSIS Trump’s sure choice for the Treasury suggests he doesn’t want to shake Wall Street
Click to see story on noticiasya.comTrump offers billionaire Scott Bessent Treasury secretary role, sources say
Click to see story on conservatics.comDonald Trump Announces Investor Scott Bessent as US Treasury Secretary
Click to see story on Confidencial HNTrump appoints Scott Bessent as Treasury Secretary
Click to see story on eldictamen.mxFTSE 100 gains as market gives Trump’s Treasury Secretary pick the thumbs up
Click to see story on UK Investor MagazineWill Scott Bessent Bring Crypto to the Mainstream as Treasury Secretary?
Click to see story on DeythereTrump names hedge fund manager Scott Bessent as Treasury chief
Click to see story on infobalkans.comDonald Trump picks ‘brilliant’ hedge fund exec as Treasury Secretary
Click to see story on HedgeweekTrump Chooses Billionaire Scott Bessent as Treasury Secretary
Click to see story on dossierpolitico.comTrump taps Scott Bessent for Treasury, capping long drama over choice – Techregister
Click to see story on TechregisterTrump Chooses Investor to Shape Treasury and Economic Strategy
Click to see story on coinspress.comHedge Fund Investor Scott Bessent To Head US Treasury
Click to see story on asianlite.comTrump Nominates Scott Bessent As Treasury Secretary – I Get Talk
Click to see story on igettalk.comTrump Reveals Scott Bessent As Pick For Treasury Secretary
Click to see story on americanbriefing.comTrump Taps Hedge Fund Titan Scott Bessent for Treasury Secretary Role – Wall Street Pit
Click to see story on Wall Street PitTrump Taps Hedge Fund Manager Scott Bessent to Be Treasury Secretary
Click to see story on unchainedcrypto.comScott Bessent may rue the day he became US Treasury secretary
Click to see story on OMFIFTrump Chooses Hedge Fund Executive Scott Bessent for Secretary of Treasury Role – Industry View
Click to see story on theindustryview.comBillionaire, gay, former Democrat donor: Meet Scott Bessent, Trump’s pick for Treasury secretary – Advertising and Donations – advertising-newsandtimes.com
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