Trump’s Treasury Pick Bessent to Divest Assets to Prevent Conflicts
Scott Bessent plans to divest from various investments to avoid conflicts as he prepares for his role as Treasury Secretary
Scott Bessent, Donald Trump, Treasury Secretary, New York, Key Square Capital Management
New York: So, it looks like Scott Bessent, who’s been picked by Trump for Treasury Secretary, is getting ready to clean house. He’s planning to sell off a bunch of his investments and funds to steer clear of any conflicts of interest.
According to a report from The New York Times, Bessent sent a letter to the Treasury Department’s ethics office. In it, he laid out how he’ll avoid any potential issues if he gets confirmed for the job.
He’s even going to shut down his own investment firm, Key Square Capital Management, and step down from his family foundation and a position at Rockefeller University. That’s a big move!
It’s interesting because Trump nominated Bessent not too long ago, on November 23. While we haven’t seen the actual document mentioned in the Times, there’s talk that if Bessent takes the job, his firm might be sold or put on hold.
Just the other day, Trump reiterated his plan to hand over the management of his vast business empire to his kids when he steps back into the White House. It’s all about keeping things above board, I guess!
Anyway, a spokesperson for Bessent didn’t have much to say on the matter. It’ll be interesting to see how this all plays out.