Scott Bessent
Scott K. H. Bessent (/ˈbɛsənt/; born 1962) is an American investor, philanthropist, hedge fund manager and Republican donor.[1][2] He is the founder of Key Square Group, an investment firm.[3][4][5]
Scott Bessent | |
|---|---|
| Born | Scott K. H. Bessent 1962 (age 61–62) Conway, South Carolina, U.S. |
| Education | Yale University (BA) |
| Political party | Republican |
| Spouse | John Freeman |
| Children | 2 |
In November 2024, after Donald Trump won the 2024 presidential election, Bessent was seen as a possible candidate for Treasury Secretary.[6]
Early life and education
changeBessent was born in Conway, South Carolina to Barbara McLeod and Homer Gaston Bessent Jr..[7][8][9] He graduated from Yale University in 1984.[8][10]
Business career
changeBessent joined Soros Fund Management (SFM) in 1991 and was a partner there during the 1990s.[7][2][11][12][13] After resigning from SFM in 2000, Bessent founded a $1 billion hedge fund.[7][14] The fund closed in 2005. Bessent has said he learned that he shouldn’t change his style or the construct of the firm because of investor preferences.[5] He was also a senior investment advisor at fund-of-funds Protégé Partners.[15][2] In 2011, Bessent returned to SFM as Chief Investment Officer.[11][16] Bessent was SFM's CIO until 2015, when he left to begin a new firm, Key Square Group.[12][13]
From 2006 to 2011, he taught economic history at Yale University.[2][5] He is also a philanthropist who donates money to restore historic buildings in South Carolina and to children's hospitals.[17][18]
Bessent founded Key Square Group in 2015.[19]
Politics
changeIn 2000, Bessent hosted a fundraiser for Vice President Al Gore's 2000 presidential campaign at his East Hampton, New York, home.[20] In 2016, Bessent donated $1 million to Donald Trump's 2017 first presidential inaugural committee.[21]
In 2024, Bessent hosted many fundraisers for Trump's 2024 campaign.[22][23] In July 2024, Bessent became an economic advisor to Trump.[24]
After Trump was elected president in 2024 presidential election, he was seen as a possible candidate for United States Secretary of the Treasury in a second Trump administration.[25][26]
Personal life
changeBessent lives in Charleston, South Carolina.[27] Bessent and his husband, lawyer John Freeman, have two children.[28]
References
change- ↑ Saul, Derek. "What To Know About Scott Bessent: Potential Trump Treasury Pick Founded Key Square Hedge Fund". Forbes. Retrieved 13 November 2024.
- ↑ 2.0 2.1 2.2 2.3 Zuckerman, Gregory (September 20, 2011). "Soros Puts New Man at Helm". The Wall Street Journal. Retrieved November 12, 2024.
- ↑ Foley, Stephen (2015-08-04). "Scott Bessent quits Soros group to launch hedge fund". Financial Times. Retrieved 2024-11-12.
- ↑ Foley, Stephen; Johnson, Miles; Childs, Mary (2016-01-05). "Former George Soros executive raises $4.5bn for new fund". Financial Times. Retrieved 2024-11-12.
- ↑ 5.0 5.1 5.2 “Life and Money Management,” Yale Alumni Magazine, Sept/Oct 2015
- ↑ Holland, Steve; Ulmer, Alexandra; Delevingne, Lawrence (November 9, 2024). "Bessent, seen as a leading candidate for Treasury Secretary, meets with Trump, sources say". Reuters. Retrieved November 12, 2024.
- ↑ 7.0 7.1 7.2 "Meet The Hedge Fund Superstar George Soros Just Hired To Take Over His $25 Billion Fund," Business Insider, September 19, 2011
- ↑ 8.0 8.1 "Scott Bessent". The Sun News. 1984-07-08. p. 8D. Retrieved 2024-11-15 – via Newspapers.com.
- ↑ "Homer G. Bessent Jr". The Sun News. 2000-01-15. p. 2C. Retrieved 2024-11-15 – via Newspapers.com.
- ↑ "Ex-Soros Trader Bessent Returns to $25 Billion Firm as CIO," Bloomberg, September 19, 2011
- ↑ 11.0 11.1 "Soros appoints new CIO to family office," Financial Times, September 19, 2011
- ↑ 12.0 12.1 “Soros’s Investment Chief to Depart,” Wall Street Journal, August 4, 2015
- ↑ 13.0 13.1 “Soros’ CIO to Start Own Hedge Fund with $2 Bln,” Reuters, August 4, 2015
- ↑ “Soros’ European Investment Head Bessent Leaves,” Bloomberg, June 8, 2000
- ↑ "Soros Aide Wins Kudos for Japan Bets," Wall Street Journal, February 14, 2013
- ↑ “George Soros’ Protégé Just Nailed One of the Biggest Hedge Fund Launches Ever,” Business Insider, January 5, 2016
- ↑ McDermott, John (July 31, 2022). "SC Hedge Fund Investor Looks to Spread the Word About math and Financial Literacy". Post and Courier.
- ↑ Hogan, Laura (February 3, 2022). "Carolopolis Awards Include Historic Homes, Visitor Center, Brick House Ruins". Post and Courier.
- ↑ “Ex-Soros’s Bessent Raises $4.5 Billion For New Hedge Fund Firm,” Bloomberg, January 5, 2016
- ↑ Dao, James (Aug 6, 2000). "THE 2000 Campaign: The Vice President; Gore's Theme-a-Day Tour Will Start With a No. 2 Pick". The New York Times.
- ↑ Kight, Stef (April 19, 2017). "The big $$$ donors to Trump's Inaugural Committee". Axios.
- ↑ Kim, Soo Rin; Ibssa, Lalee (February 21, 2024). "Trump brings in more than $6.8 million from Greenville, South Carolina, fundraiser ahead of primary". ABC News.
- ↑ "Trump Campaign Says $50.5 Million Haul Doubled Biden's Fundraiser". Newsweek. April 6, 2024.
- ↑ Cook, Nancy; Green, Joshua; Parker, Mario (July 16, 2024). "Trump on Taxes. Tariffs, Jerome Powell and More". Bloomberg.
- ↑ Leary, Alex; Restuccia, Andrew; Lombardo, Cara (April 1, 2024). "Trump Eyes High-Profile Wall Street D.C. Veterans for Treasury Secretary". The Wall Street Journal.
- ↑ Reklaitis, Victor. "Possible Trump Pick for Treasury Lays Out 3-Point Economic Plan that Calls for Deregulation, Lower Deficit". MSN.
- ↑ McDermott, John (July 31, 2022). "SC hedge fund investor looks to spread the word about math and financial literacy". Post and Courier.
- ↑ Zuckerman, Gregory; Rudegeair, Peter (October 10, 2024). "The Ex-Soros Executive Who is Trump's New Obsession". The Wall Street Journal.
Other websites
change- Steven Drobny, "The Stock Operator: Scott Bessent," Inside the House of Money