Scott Bessent, a billionaire hedge fund manager, is preparing to divest from his financial holdings, valued over $700 million, to lead the U.S. Treasury.
Bessent's financial disclosures reveal diverse assets including real estate, farmland, and significant investments in Bitcoin, suggesting a shift toward passive investing.
His planned resignation from various leadership roles, including at Key Square Capital Management, precedes his confirmation, marking him as the first openly gay Treasury head.
Bessent's nomination highlights both historic representation in the Cabinet and concerns about the Trump administration's policies regarding LGBTQ+ rights.
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