In January 2025, Scott Bessent was confirmed as the 79th Treasury Secretary under President Trump’s administration, and he took over at a time when the U.S. dollar was the dominant world currency despite the nation’s budget deficit. The U.S. Treasury Department plays an important role in maintaining the country’s finances and providing economic stability.
Unlike his predecessors, most of whom came from a traditional Wall Street background in investment banking, Bessent's career is rooted in hedge funds, and he wants to hire personnel who are more attuned to global financial markets rather than rely on career economists in his decision-making.
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As the newest Treasury Secretary, Bessent faces a slew of responsibilities, including managing the nation’s finances, managing debt, regulating financial institutions, implementing economic policy, promoting economic growth, and fighting financial criminal activity.
Here’s how much Bessent is worth in 2025 and how he’s managing his assets as Treasury Secretary:
What is Scott Bessent’s net worth in 2025?
Bessent has a net worth of at least $500 million. His financial disclosure to the U.S. Office of Government Ethics prior to his confirmation as Treasury Secretary showed that he had assets — some of which he shared with his husband, former New York City prosecutor John Freeman — of at least $521 million.
Much of his wealth came from his career as a money manager at hedge funds, where he made millions for himself while also managing massive amounts of client capital.
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What is Scott Bessent’s salary as U.S. Treasury Secretary?
As Treasury Secretary, Bessent earns an annual salary of $250,600 — likely far less than he took home annually in total compensation as a hedge fund manager.
Who is Scott Bessent?
Scott Kenneth Homer Bessent was born in Conway, South Carolina in 1962. He graduated with a bachelor’s degree in political science from Yale University in 1984.
In an interview with Yale Alumni Magazine in 2015, Bessent said he initially wanted to be a journalist and tried to become the editor of the Yale Daily News but didn’t get the role. Looking for other opportunities, he joined Yale alumnus and investment manager Jim Rogers as an intern, and this started his career in investment management.
After graduation, Bessent worked at investment bank Brown Brothers Harriman. He then went on to various positions at short-selling specialty firm Kynikos Associates, the Soros Fund, and Protégé Partners, which manages a "fund of hedge funds."
From 1991 to 2000, he was managing partner of Soros Fund Management’s London office, and during that time, he helped George Soros and his top lieutenant, Stanley Druckenmiller, short the British pound in 1992. That legendary trading move famously earned Soros a staggering $1 billion at the time.
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In 2011, Bessent returned to Soros Fund Management to become its chief investment officer. In August 2015, Bessent started his own hedge fund, Key Square Group, where he served as CEO and received a $2 billion allocation from Soros.
Bessent is an advocate of promoting financial literacy and education programs. He served for a time as an adjunct professor at Yale, where he taught economic history. His three classes at Yale were Twentieth Century Financial Booms and Busts, Hedge Funds: History, Theory and Practice, and The Financial Panic of 2007 to 2009.
As Treasury Secretary, Bessent reportedly plans to extend Trump’s tax cuts. He also holds the distinction of being the highest-ranking LGBTQ+ member in Trump's administration. In his role as Treasury Secretary, he is fifth in line for the presidency.
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How does Scott Bessent spend his money?
Bessent, as a high-profile government employee, is now limited in how he can spend his money. As Treasury Secretary, Bessent is prohibited from taking a financial position that would compromise his duties and responsibilities. As such, he divested from certain holdings, such as cash assets from his hedge fund and other funds upon confirmation as Treasury chief.
Prior to becoming Treasury Secretary, Bessent invested heavily in property. He has homes in Cashiers, North Carolina and Nassau, Bahamas. His other investments include stakes in companies, as well as exchange-traded funds and U.S. government securities.
His assets in arts and antiques were valued at at least $1 million, according to his disclosure.
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