Scott Bessent, President-elect Trump's nominee for Treasury secretary, plans to exit the fund and other investments as he prepares to become the country's top economic official.
In an agreement released Saturday by the Office of Government Ethics ahead of Bessent's confirmation hearing on Thursday, he outlined his plans.
Mr. Bessent, a billionaire hedge fund manager, also shared his financial information ahead of a Senate hearing later this week. Government officials are typically required to disclose their stock holdings and divest assets that could pose a conflict of interest.
“If an actual or potential conflict of interest arises during my appointment, I will consult with the agency's ethics officer and take steps necessary to resolve the conflict, such as withdrawing from a particular issue or selling assets. We will take appropriate action,” Bessent said. I wrote.
Mr. Bessent said he would step down from his position at Key Square Group upon Senate confirmation. He also said he intended to sell his partnership stake “as soon as practicable.” Bessent said he would also step down from other corporate and foundation positions.
The documents show the size of Bessent's assets and investments, which are believed to be more than $700 million. It was revealed that he owns assets worth $25 million each in North Dakota and the Bahamas. The New York Times reported.
Mr. Bessent will lead President Trump's economic team and will be tasked with implementing high-level tariff plans that are likely to shake up global trade.
