Bessent, a past supporter of Democrats who once worked for George Soros, has become an enthusiastic supporter of Trump.

Hedge fund manager Scott Bessent — who has vowed to crack down on off-the-rails federal spending and help avert a “crushing $4 trillion tax hike” on Americans by year’s end — was

Former hedge fund manager Scott Bessent was confirmed yesterday in the Senate as the new Treasury Secretary. The 62-year-old Tr*mp nominee becomes the first out-gay man to hold the position. He’s also the highest-ranking LGBTQ+ official in US history. The Treasury Secretary is fifth-in-line to the Presidency.

The first openly gay person in the role has the delicate balancing act of cutting taxes and curbing deficits while putting forward a plan on tariffs that doesn’t jeopardize growth.

In a mostly bipartisan vote, the Senate confirmed Scott Bessent as Treasury secretary on Monday, solidifying his role to advance Trump’s economic agenda.

The U.S. Senate confirmed billionaire investor Scott Bessent on Monday to become the next Treasury secretary and enact the Trump administration's economic agenda of tax cuts and tariffs.

The Senate is set to vote Monday on the confirmation of Scott Bessent as treasury secretary, as Senate Republicans work to quickly install President Trump's picks for top administration posts.

Scott Bessent has been an outspoken advocate for digital assets and hopes to being more regulatory clarity and crypto-favourable policies.

Many hedge funds endured difficult times in the years following the financial crisis, and a number of prominent names shut down and became family offices, like Duquesne Capital, founded by Stanley Druckenmiller, another Soros alum; “big short” John Paulson’s eponymous Paulson & Co.; and Tiger Cub John Griffin’s Blue Ridge Capital.

The US Senate confirmed Scott Bessent as Treasury Secretary. He faces balancing tax cuts with deficit control and crafting a tariff strategy, becoming the first openly gay person in the role.

Will the Senate GOP confirm controversial picks like Tulsi Gabbard and RFK Jr.? Here’s the hearings schedule and list of who’s been confirmed.