CNN Editorial Research

(CNN) — Here’s a look at the life of hedge fund executive and Treasury Secretary Scott Bessent.

Personal

Birth date: August 21, 1962

Birth place: Conway, South Carolina

Birth name: Scott Kenneth Homer Bessent

Father: Homer Gaston Bessent Jr., real estate developer

Mother: Barbara McLeod Bessent

Marriage: John Freeman (2011-present)

Children: Cole and Caroline

Education: Yale University, B.A., 1984

Other Facts

Is the first openly gay Treasury secretary and the first openly LGBTQ Senate-confirmed Cabinet member in a Republican administration.

After graduating from Yale, Bessent held positions at Brown Brothers Harriman, Olayan Group and Kynikos Associates.

Timeline

1991-2000 - Managing partner of Soros Fund Management in London.

2000-2005 - Establishes and runs his own hedge fund, Bessent Capital.

2006-2010 - Adjunct professor at Yale University.

2007-2010 - Works at Protégé Partners, a New York-based investment firm.

2011-2015 - Chief investment officer for Soros Fund Management.

2015 - Founds the hedge fund Key Square Capital Management, where he serves as chief executive officer and chief investment officer.

January 27, 2025 - In a 68-29 vote, the Senate confirms Bessent as the Treasury secretary. He is sworn in the following day.

August 8, 2025 - According to two White House officials, Trump has ousted the current commissioner of the Internal Revenue Service and selected Bessent to serve as the acting head of the IRS while the administration seeks a more permanent replacement.

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