Early Life and Education of Scott Bessent: A Complete Timeline

An overview of the childhood and early education of Scott Bessent, highlighting the experiences that shaped the journey.

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

September 2007: Real Estate Transactions and Mortgage Designations

In September 2007, Scott Bessent reportedly designated, through an attorney, his Bedford Hills property and a property in Provincetown, Massachusetts, as his principal residences simultaneously on mortgage documents with Bank of America, despite documents indicating the properties were secondary residences and his primary residence was in Manhattan. Bank of America was aware of this arrangement at the time.

2009: Loss on One Sutton Place South Unit Sale

In 2009, Scott Bessent sold a unit at One Sutton Place South in Manhattan for $9.5 million, taking a loss on the property. He had purchased the unit, which formerly belonged to a sister of John F. Kennedy, for $12 million in 2007.

2010: Miami Beach and Southampton House Purchases

In 2010, Scott Bessent purchased a 9,719-square-foot house in Miami Beach for $9.5 million. Also in 2010, he bought a 10,665-square-foot home in Southampton, New York, for $9.95 million.

2011: Loss on Bedford Hills House Sale

In 2011, Scott Bessent sold a house in Bedford Hills, New York, for $7.1 million, incurring a loss of at least $4.2 million after purchasing it in 2007 for $11.3 million.

2014: Sale of Miami Beach House

In 2014, Scott Bessent sold a house in Miami Beach for $14.5 million after renovating it. He had purchased the house for $9.5 million in 2010.

2016: Purchase of John Ravenel House

In 2016, Scott Bessent purchased the 9,407-square-foot John Ravenel House for $6.5 million.

2017: Purchase of 720 Park Avenue Unit

In 2017, Scott Bessent bought a unit at 720 Park Avenue for $19.25 million.

2019: Sale of Southampton Home

In 2019, Scott Bessent sold his Southampton, New York, home for $19 million following a renovation. He had bought it for $9.95 million in 2010.

2021: Sale of 720 Park Avenue Unit and Preservation Award

In 2021, Scott Bessent sold his unit at 720 Park Avenue for $15 million, taking a loss. Also in 2021, his renovation of the John Ravenel House received an award from the Preservation Society of Charleston.

December 28, 2024: Net Worth Disclosure

As of December 28, 2024, Scott Bessent's net worth was disclosed to be at least $521 million according to his financial assets disclosure by the U.S. Office of Government Ethics. It is speculated to be around $600 million. At that time, he owned more than $50 million in each of the SPDR S&P 500 ETF Trust, the Invesco S&P 500 Equal Weight ETF, and the Invesco QQQ, as well as real estate in the Bahamas worth $5 million to $25 million and a home in Cashiers, North Carolina, worth $5 million to $25 million. He owns farmland worth up to $25 million in North Dakota that provides him a rental income of up to $1 million per year.

March 2025: Sale of John Ravenel House

In March 2025, Scott Bessent sold the John Ravenel House for $18.25 million plus $3 million for furnishings and fixtures. This sale marked the highest price ever for a house in Charleston.