Scott Bessent faces challenges after early hedge fund success
- Scott Bessent began his career in finance after initially studying journalism at Yale University.
- He launched a hedge fund in 2000 with support from George Soros, which closed by 2005 due to poor performance.
- Despite struggles in fund management, Bessent achieved personal financial success and maintains a stable family life in D.C.
In the United States, Scott Bessent, born in 1962 in Little River, South Carolina, has built a complex career in finance, beginning from humble beginnings. Bessent started working at the age of nine to support his family and pursued his education at Yale University, where he switched his focus from journalism to finance. In 2000, he launched a hedge fund with significant backing from George Soros. Unfortunately, by 2005, the fund was closed after failing to perform as expected. His later endeavors included the formation of Key Square Capital Management, which saw initial success when bets were made on the impact of Brexit in 2016. However, performance stagnated despite the fund's more recent successes, especially amid high inflation that yielded a notable 29% return in 2022, contrasting greatly with the S&P 500's decline. Through these events, Bessent has also maintained a personal life that includes a family, having married his husband John Freeman in 2011 and raising two children together. Bessent's recent choice to live in a Georgetown estate signifies his financial stability. His investment strategies continue to focus on international currency trades and U.S. Treasuries, demonstrating a commitment to navigating market uncertainties.