Prominent investor Scott Bessent has met Donald Trump as he and fellow investor John Paulson emerge as leading candidates for the key role of US Treasury Secretary, according to two sources close to the president-elect.
Bessent and Paulson are among several names that have been reported in the media as potential candidates for the role in recent days. A final decision rests with Trump, and one of the sources said Bessent’s meetings at Trump’s Mar-a-Lago Florida estate were “very positive.”
It was unclear whether Paulson had met or had plans to meet Trump.
Trump, who is set to return to the White House on January 20, has begun the process of choosing a Cabinet and selecting high-ranking administration officials.
The Treasury Secretary job is a key Cabinet position, with vast influence over economic, regulatory and international affairs. Wall Street has been closely watching who Trump will pick, especially given his plans to remake global trade through tariffs.
Bessent and Paulson, both financial backers of Trump’s campaign, have long been in Trump’s sights for such a role. During a January campaign speech, Trump floated Paulson as a potential Treasury Secretary. A source familiar with the matter at the time said Trump wanted Paulson to lead Treasury, and if not him, Bessent.
A longtime hedge fund investor who taught at Yale University for several years, Bessent has a warm relationship with the president-elect and has spoken highly of Trump’s use of tariffs as a negotiating tool. Paulson, a billionaire investor and major Trump donor, is a longtime proponent of tax cuts and deregulation.
Other names that have been speculated about for the role are FOX Business Network personality Larry Kudlow, Trump’s former US trade representative Robert Lighthizer and Howard Lutnick, the co-chair of Trump’s transition team.
Corporate attorney Jay Clayton, former head of the US Securities and Exchange Commission during Donald Trump’s presidency, is meanwhile in talks for several potential roles in a second Trump term, although is seen as less likely for Treasury Secretary.
JPMorgan Chase CEO Jamie Dimon, who has also been speculated, has no plans to join Donald Trump’s administration, a source said earlier this week.
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