President-elect Donald Trump has reportedly nominated Scott Bessent to be the next U.S. Treasury Secretary after Trump takes office in January.

“I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States. Scott is widely respected as one of World’s foremost International Investors and Geopolitical and Economic Strategists,” Trump said in a statement.

🚨NEW: President Trump announces the nomination of Scott Bessent as Treasury Secretary. pic.twitter.com/nFII1dRqd2

— Trump War Room (@TrumpWarRoom) November 23, 2024

The 62-year-old billionaire hedge fund manager, who is the founder of Key Square Capital Management, advised Trump on economic policy during his most recent presidential campaign.

Bessent rose to prominence as the chief investment officer at Soros Fund Management, founded by Democrat megadonor George Soros.

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He led the firm’s efforts betting against currencies, which brought in billions of dollars in profit.

The president-elect also noted that Bessent “has long been a strong advocate of the America First Agenda.”

Trump reportedly likes him because he “converted to the MAGA movement” after working for Soros, CNN reported.

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