Out billionaire hedge fund manager Scott Bessent will be nominated by Donald Trump to be secretary of the treasury. If confirmed, he will be the first out LGBTQ+ Cabinet secretary ever nominated by a Republican president, and only the second out LGBTQ+ Cabinet secretary at all, after Transportation Secretary Pete Buttigieg.
Bessent is the founder of the hedge fund Key Square Capital Management. He is also affiliated with George Soros, serving as chief investment officer for Soros’ fund in the past. Soros is a liberal philanthropist who is also Jewish and is often included in rightwing conspiracy theories.
Bessent donated to Trump’s campaign and was an economic advisor for the campaign.
CNBC reports that Bessent was likely picked because he favors similar economic policies to Trump, including tariffs and deregulation. He donated an estimated $10 million to $15 million to Republicans this election cycle. » | Alex Bollinger | Monday, November 25, 2024
