Scott Bessent to divest financial interests ahead of Treasury confirmation

Scott Bessent, nominated by President-elect Trump for Treasury secretary, will divest from various financial interests to prevent conflicts of interest. He plans to close his investment firm, Key Square Capital Management, and resign from his foundation and Rockefeller University. Bessent's actions include divesting from numerous funds, trusts, and investments. He submitted a letter to the Treasury Department's ethics office detailing these steps to ensure compliance if confirmed for the position. This move contrasts with Trump's previous arrangement during his first term, where he transferred management of his business interests to his children while in office.