Billionaire investor John Paulson, a prominent candidate for the role of U.S. Treasury Secretary under President-elect Donald Trump, has announced that he will not pursue the position due to “complex financial obligations.” Paulson had been seen as a leading contender for the high-profile role, which holds substantial influence over economic, regulatory, and international affairs.
In a public statement, Paulson explained, “I intend to remain actively involved with the President’s economic team and helping in the implementation of President Trump’s outstanding policy proposals.”
His decision marks a shift in Trump’s cabinet-building process, as Paulson, along with fellow investor Scott Bessent, had been viewed as a potential frontrunner.
Paulson and Bessent were both financial backers of Trump’s campaign, and their names quickly rose to the top of discussions for key economic roles in the new administration.
Wall Street analysts had closely monitored the speculation around Trump’s Treasury Secretary choice, particularly in light of his stated intentions to reshape global trade policies through tariffs. Bessent did not immediately respond to requests for comment on the matter.
The Treasury Secretary role is just one of many critical positions President-elect Trump will fill as he prepares to take office in January. Alongside the Treasury decision, Trump’s transition team is reportedly considering other notable appointments.
Professional wrestling executive and former Small Business Administration (SBA) director, Linda McMahon, is widely regarded as a frontrunner to head the Department of Commerce.
Meanwhile, Susie Wiles, one of Trump’s two campaign managers, has reportedly been selected as White House chief of staff.
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