Scott Bessent has been sworn in as the US Treasury Secretary. His confirmation is a moment of history, as he becomes the highest ranked person in the US government who has publicly shared that they same-sex attracted.
Previous Pete Buttigieg held the honour when he served as the Secretary of Transport in the Administration of former President Joe Biden.
In the US line of succession the position of Treasury Secretary has a higher ranking than Transport, placing 5th the order following the Vice President, Speaker of the House of Representatives, President pro tempore of the Senate, and the Secretary of State.
Prior to his appointment Bessent served as Chief Executive Officer and Chief Investment Officer of Key Square Capital Management, a global hedge fund focused on macro investing that he founded in 2015.
Before launching his own company Bessent was the Chief Investment Officer of Soros Fund Management. He was also an adjunct professor at Yale University, where he taught economic history. From 1991 to 2000, he was managing partner of Soros Fund Management’s London office.Â
Sixty-two year old Bessent is married to John Freeman, a former NYC prosecutor. The couple have two children. His personal wealth is estimated to be at least $521 million.
