Scott Bessent is an American government official, real estate investor, and former hedge fund manager. Since January 28, 2025, he has served as the 79th U.S. Secretary of the Treasury.
Born in Conway, South Carolina, Bessent graduated from Yale College in 1984 with a degree in political science. He began his career at Soros Fund Management in 1991, eventually leading its London office. While there, he played a key role in the historic 1992 “Black Wednesday” trade that earned over $1 billion in profit and later achieved another $1.2 billion gain betting against the Japanese yen.
In 2015, Bessent founded Key Square Group, a global macro investment firm that managed billions in assets and focused on global currency, fixed income, and real estate markets.
A longtime economic strategist and philanthropist, Bessent served as an advisor and major donor for the Donald Trump 2024 presidential campaign. He was confirmed by the U.S. Senate on January 27, 2025, and sworn in the next day as Treasury Secretary.
Bessent is the second openly gay man to serve in a U.S. Cabinet (after Pete Buttigieg) and, as Treasury Secretary—fifth in the presidential line of succession—is the highest-ranking openly LGBT official in U.S. history.
He has spent over four decades in global investment management, taught economic history at Yale University, and traveled to more than 60 countries. Bessent divides his time between Washington, D.C. and Charleston, South Carolina.
