History of Scott Bessent in Timeline

Scott Kenneth Homer Bessent is an American government official currently serving as the United States Secretary of the Treasury since 2025. Previously, he was a prominent figure in the financial world, having been a partner at Soros Fund Management (SFM) before founding his own global macro investment firm, Key Square Group. His career spans both the private sector in hedge fund management and high-level government service.

Sections (3)

Full Timeline Early Life & Education Career & Achievements

September 2007: Bessent designates properties as principal residences

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

2009: Bessent sells One Sutton Place South unit at a loss

In 2009, Scott Bessent sold a unit at One Sutton Place South in Manhattan for $9.5 million, at a loss, after purchasing it for $12 million in 2007.

2010: Bessent buys Miami Beach house

In 2010, Scott Bessent bought a 9,719-square-foot house in Miami Beach for $9.5 million.

2011: Bessent sells Bedford Hills house at a loss

In 2011, Scott Bessent sold a house in Bedford Hills, New York, that he bought in 2007 for $11.3 million, for $7.1 million, resulting in a loss of at least $4.2 million.

2014: Bessent sells Miami Beach house after renovation

In 2014, Scott Bessent sold a 9,719-square-foot house in Miami Beach for $14.5 million after purchasing and renovating it in 2010.

2016: Bessent buys John Ravenel House

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

2017: Bessent buys unit at 720 Park Avenue

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

2019: Bessent sells Southampton home after renovation

In 2019, Scott Bessent sold a 10,665-square-foot home in Southampton, New York, for $19 million after purchasing and renovating it in 2010 for $9.95 million.

2021: Bessent sells unit at 720 Park Avenue at a loss and renovation award

In 2021, Scott Bessent sold his unit at 720 Park Avenue for $15 million, taking a loss after buying it for $19.25 million in 2017. Also in 2021, his renovation of the John Ravenel House, bought in 2016, received an award from the Preservation Society of Charleston.

December 28, 2024: Bessent's Net Worth Disclosure

As of December 28, 2024, Scott Bessent's net worth was at least $521 million according to his financial assets disclosure by the U.S. Office of Government Ethics; his actual net worth 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.

March 2025: Bessent sells John Ravenel House

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