Scott Bessent, President-elect Trump’s pick for Treasury secretary, plans to divest from funds and other investments as he prepares to take on the nation’s top economic official.
In an agreement released Saturday by the Office of Government Ethics ahead of Bessent’s confirmation hearing Thursday, he outlined his plans.
Bessent, a billionaire hedge fund manager, also disclosed his financial information ahead of a Senate hearing later this week. Top government officials are generally required to disclose their assets and dispose of assets that may present a conflict of interest.
Bessent said, “If an actual or potential conflict of interest arises during the appointment, we will consult with the agency’s ethics officer and take necessary measures to resolve the conflict, such as withdrawing certain matters or selling assets.” wrote.
Bessent said he would resign from Key Square Group if confirmed by the Senate. He also said he would sell his partnership stake in the company “as soon as possible.” Bessent also said he would resign from other companies and foundations.
The documents list Bessent’s assets and investments, which appear to be worth more than $700 million. The New York Times reported that he was found to own assets worth $25 million each in North Dakota and the Bahamas.
Bessent will lead Trump’s economic team and be tasked with implementing Trump’s plan for high tariffs, which are expected to shake up global trade.
