Scott Bessent is Donald Trump's pick for Treasury secretary. Bessent was a protege of Jewish billionaire George Soros. – The Forward

President-elect Donald Trump’s pick for Treasury Secretary operates a hedge fund that reaped a massive windfall two years ago — even as global markets sagged.

Donald Trump picked Scott Bessent to serve as Treasury secretary Friday. Scott Bessent is the founder of the investment firm Key Square Capital Management and has emerged one of the most prominent fundraisers to Donald Trump.

Investor Scott Bessent has spent his career in finance, working for macro investment billionaire George Soros and noted short seller Jim Chanos, as well as running his own hedge fund.

WASHINGTON -- Trump says he will nominate former George Soros money manager Scott Bessent to lead the Treasury Department.

Bessent, an advocate for deficit reduction and deregulation, is a past supporter of Democrats who has become an enthusiastic supporter of Donald Trump.

In the hedge fund industry, Bessent is respected for his consistent track record and his ability to maintain strong relationships with key figures like George Soros. His success in transitioning from managing one of the world's most famous investment portfolios to building his own successful firm has cemented his position as a significant figure in the global investment community.