Trump's pick to head Treasury Department investor intends to get rid of assets for the post

Scott Bessent, a candidate to head the U.S. Treasury Department in the new administration of U.S . leader-elect Donald Trump, plans to sell his assets to take the position. This was reported by The New York Times on January 11, citing documents.

Bessent said that to avoid conflicts of interest, he will close his investment firm Key Square Capital Management, resign from the family foundation and Rockefeller University, sell a number of investments, including a bitcoin fund and a stake in a publishing house, and repay a margin loan worth more than $50 million dollars.

Bessent's fortune is estimated at $700 million, of which $100 million is invested in securities of the U.S. Treasury Department, Gazeta.Ru notes.

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Trump proposed in place of the new Secretary of Finance investor Scott Bessent on November 22, 2024. He specified that Bessent can help in the establishment of the "golden age of the United States" and strengthen the economy of the state. Trump added that the investor is a supporter of his policies, which aim to increase competitiveness within the US and eliminate the "unfair balance of trade."