Senate confirms hedge fund founder Bessent as Treasury Secretary

On January 27, 2025, the Senate confirmed Scott Bessent as Secretary of the Treasury by a 68-29 vote, one of the broader bipartisan margins among Trump's cabinet picks. Bessent founded Key Square Group, a Connecticut-based macro hedge fund, after serving as chief investment officer for George Soros's Soros Fund Management. He had donated $1 million to Trump's 2017 inaugural committee and personally hosted fundraisers in 2024 that raised approximately $7 million (Greenville, South Carolina) and $50 million (Palm Beach) for the Trump campaign. Trump announced the nomination on November 22, 2024.