In 1992, Scott Bessent helped Soros execute one of the most profitable trades in history by shorting the British pound, believing it was overvalued due to the U.K.'s weak economy.
Their bet against the pound yielded over $1 billion in profits and led to the U.K. abandoning the European Exchange Rate Mechanism, an event etched in financial history as 'Black Wednesday'.
After multiple stints with Soros Fund Management, Bessent founded Key Square, aided by a $2 billion loan from Soros, which he later repaid.
Bessent's successful investments during his career, including a notable bet against the Japanese yen, solidified his reputation in the finance world after leaving Soros.
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