Scott Bessent is Donald Trump's pick for Treasury secretary. Bessent was a protege of Jewish billionaire George Soros. – The Forward

President-elect Donald Trump’s pick for Treasury Secretary operates a hedge fund that reaped a massive windfall two years ago — even as global markets sagged.

Donald Trump picked Scott Bessent to serve as Treasury secretary Friday. Scott Bessent is the founder of the investment firm Key Square Capital Management and has emerged one of the most prominent fundraisers to Donald Trump.

U.S. president-elect Donald Trump announced Friday that he'll nominate former George Soros money manager Scott Bessent, an advocate for deficit reduction, to serve as his next treasury secretary.

Key Square Group, the hedge fund started by Scott Bessent in 2015, has seen its assets under management drop sharply over the past six years on the back of a series of major losses

Investor Scott Bessent has spent his career in finance, working for macro investment billionaire George Soros and noted short seller Jim Chanos, as well as running his own hedge fund.

Bessent, an advocate for deficit reduction and deregulation, is a past supporter of Democrats who has become an enthusiastic supporter of Donald Trump.

WASHINGTON -- Trump says he will nominate former George Soros money manager Scott Bessent to lead the Treasury Department.

In the hedge fund industry, Bessent is respected for his consistent track record and his ability to maintain strong relationships with key figures like George Soros. His success in transitioning from managing one of the world's most famous investment portfolios to building his own successful firm has cemented his position as a significant figure in the global investment community.

Now is one of the stronger times of the year for stocks. pic.twitter.com/Hh4kA7xx6V — Ryan Detrick, CMT (@RyanDetrick) November 26, 2024 The stock market rallied on Monday as investors reacted positively to President-elect Donald Trump’s nomination of Scott Bessent for Treasury Secretary.