Rise to Success: Career Highlights of Scott Bessent

From career breakthroughs to professional milestones, explore how Scott Bessent made an impact.

Scott Kenneth Homer Bessent is an American government official, real estate investor, and former hedge fund manager. He became the 79th United States Secretary of the Treasury in 2025. Prior to his government role, Bessent was a partner at Soros Fund Management (SFM) and later founded Key Square Group, a global macro investment firm. His career reflects a transition from high finance to public service.

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Full Timeline Early Life & Education Career & Achievements

November 2024: Argues for Tariffs in Fox News Op-Ed

In a November 2024 Fox News op-ed, Scott Bessent argued that tariffs "are a means to finally stand up for Americans".

January 21, 2025: Senate Committee Advances Nomination

On January 21, 2025, the U.S. Senate Committee on Finance advanced Scott Bessent's nomination to the Senate floor by a 16–11 vote.

January 27, 2025: Confirmed as U.S. Treasury Secretary

On January 27, 2025, Scott Bessent was confirmed by the United States Senate by a 68–29 vote as the U.S. treasury secretary. On the same day, a man was arrested at the United States Capitol for planning to murder Bessent.

January 28, 2025: Sworn in as U.S. Treasury Secretary

On January 28, 2025, Scott Bessent was sworn in as the 79th U.S. Treasury Secretary.

January 31, 2025: Grants Access to Treasury Payment System

On January 31, 2025, Scott Bessent granted the Department of Government Efficiency team access to the Treasury Department's payment system.

February 3, 2025: Named Acting Director of CFPB

On February 3, 2025, Scott Bessent was named the acting director of the Consumer Financial Protection Bureau. He immediately ordered the agency to halt all work.

March 2025: Defends Tariffs on Canada and Mexico

In March 2025, amid Trump's threats to impose tariffs on Canada and Mexico, Scott Bessent defended the tariffs, saying, "access to cheap goods is not the essence of the American Dream."

April 2025: Appoints Preferred Pick as IRS Commissioner

In April 2025, Michael Faulkender replaced Gary Shapley as Commissioner of Internal Revenue after Bessent lobbied Trump. This led to a dispute between Bessent and Elon Musk.

April 2025: Warns Against Retaliation to Liberation Day Tariffs

In April 2025, after Trump announced Liberation Day tariffs, Scott Bessent warned countries against retaliating, promising escalation. On April 9, Trump paused many of the tariffs, Bessent and Commerce Secretary Howard Lutnick were credited with convincing Trump to do so.

July 2025: US Department of War Stake in MP Materials

In July 2025, the U.S. Department of War took equity stakes in MP Materials, as part of effort to create a strategic mineral reserve.

September 2025: Voices Support for More Secondary Sanctions on Russia

In September 2025, Scott Bessent voiced support for more secondary sanctions on Russia to "collapse" the Russian economy, saying the Trump administration is "prepared to increase pressure on Russia, but we need our European partners to follow us."

October 2025: Comments on China's Rare Earth Export Restrictions

After an October 2025 meeting at the APEC Summit in South Korea, Scott Bessent said that China's decision to restrict rare earth exports may have been a strategic miscalculation, as it encouraged other countries to reduce reliance on Chinese supplies.