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In January 2025, President Donald Trump’s nominee for Secretary of the Treasury, Scott Bessent, was formally confirmed by the Senate in a 68–29 vote. A longtime monetary advisor and main donor to Trump’s 2024 marketing campaign, Bessent now serves because the 79th U.S. Treasury Secretary.
Announcing the nomination in late 2024, Trump referred to as Bessent “widely respected as one of the world’s foremost international investors and geopolitical and economic strategists.” He described Bessent’s story as “the American dream” and praised his alignment with the America First agenda. As the U.S. approaches its 250th anniversary, Trump stated Bessent would play a key position in strengthening the nation’s financial place and sustaining the U.S. greenback because the world’s reserve forex.
Closing his remarks, Trump declared that collectively, he and Bessent would “make America rich again, prosperous again, affordable again, and, most importantly, great again.”
Bessent now makes historical past as the primary brazenly homosexual Treasury Secretary and the second brazenly homosexual Cabinet member in U.S. historical past, following Transportation Secretary Pete Buttigieg. Find out extra about his private life under.
Who Is Scott Bessent’s Spouse?
Bessent is married to John Freeman, a former New York City prosecutor. The couple tied the knot in 2011 and resides in Charleston, South Carolina.
Does Scott Bessent Have Kids?
Yes, the couple shares two kids, Cole and Caroline, born by way of surrogacy.
In 2015, Bessent informed Yale Alumni Magazine, “If you had told me in 1984, when we graduated [from Yale], and people were dying of AIDS, that 30 years later I’d be legally married and we would have two children via surrogacy, I wouldn’t have believed you.”
What Is Scott Bessent’s Net Worth?
Bessent has a web price of $700 million in 2025, in keeping with Celebrity Net Worth.
How Did Scott Bessent Make His Money?
Bessent is the founding father of the macro funding agency Key Square Group.
A local of South Carolina, Bessent earned a bachelor’s diploma in political science from Yale University in 1984 earlier than starting his profession in finance. In 1991, he joined Soros Fund Management (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 towards the British pound, a transfer that earned SFM $1 billion. (He repeated this success in 2013 by betting towards the Japanese yen, bringing in extra earnings.)
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 Partners, a fund-of-funds agency. Bessent returned to SFM in 2011 as chief funding officer, a task he held till 2015. He left in 2015 to ascertain his personal agency, Key Square Group. Bessent introduced that he would sever ties with the group as Treasury Secretary.