As a money manager, Scott Bessent's years of inconsistent performance have contributed to a nearly 90% decline in his hedge fund's assets. Now, with other business lines expanding, he has scored on perhaps his biggest bet yet: President-elect Donald Trump.

The Treasury Secretary is a high-level Cabinet position charged with advising the president on matters related to financial, economic and tax policy.

Here's what to know about the Treasury secretary pick Bessent, who beat out a crowded field including former Fed official Kevin Warsh and billionaire Marc Rowan.

WASHINGTON (AP) — President-elect Donald Trump announced Friday that he’ll nominate former George Soros money manager Scott Bessent, an advocate for deficit reduction, to serve as his next treasury secretary.

Days after claiming a resounding victory in US elections 2024, Donald Trump has announced he will nominate investor Scott Bessent for Treasury Secretary. Bessent is an American investor, philanthropist,

President-elect Donald Trump launched a blitz of picks for his Cabinet, but he took his time settling on billionaire investor Scott Bessent as his choice for treasury secretary

Donald Trump has tapped Scott Bessent as treasury secretary, Russell Vought for the Office of Management and Budget, Rep. Lori Chavez-DeRemer as labor secretary, and Scott Turner as housing secretary.

President-elect Donald Trump on Friday announced hedge fund manager Scott Bessent as his choice for treasury secretary and first-term official Russell Vought to head the Office of Management and Budget.