Trump Treasury Nominee Scott Bessent to Divest $700M Portfolio Before Confirmation

Bessent, a billionaire hedge fund manager and advocate for tax reform, is set to divest assets to comply with ethics rules as he prepares to lead the Treasury Department.

Scott Bessent, President-elect Donald Trump's Treasury Secretary nominee, plans to divest over $700 million in assets, including real estate, ETFs, and cryptocurrency holdings, to avoid conflicts of interest.
Bessent will resign from his hedge fund, Key Square Capital Management, and other leadership roles, such as at Rockefeller University and his family foundation, if confirmed by the Senate.
His disclosed portfolio includes significant investments in U.S. Treasury bills, major stock index ETFs, and between $250,001 and $500,000 in BlackRock's Bitcoin ETF.
As the first openly gay nominee for Treasury Secretary, Bessent's confirmation would mark a historic moment, though critics highlight concerns over the Trump administration's broader LGBTQ+ policies.
Bessent's confirmation hearing is scheduled for January 16, where he is expected to face questions on his alignment with Trump's economic agenda, including tax cuts, deregulation, and cryptocurrency adoption.