John Paulson Drops Out of Running to Become Trump Treasury Secretary
Investor says his ‘complex financial obligations’ would prevent him from joining administration
Veteran investor John Paulson is dropping out of the running to become President-elect Donald Trump’s Treasury secretary, he said in a statement to The Wall Street Journal.
“Although various media outlets have mentioned me as a candidate for Secretary of the Treasury, my complex financial obligations would prevent me from holding an official position in President Trump’s administration at this time,” Paulson said in the statement. “However, I intend to remain actively involved with the President’s economic team and helping in the implementation of President Trump’s outstanding policy proposals.”
Paulson, who has been an ardent supporter of Trump’s for years, was among a group of people being considered by Trump to be the next Treasury secretary, according to people familiar with the matter.
His decision to remove himself from consideration essentially clears a lane for fellow investor Scott Bessent to land the post. Bessent in recent days has become the favorite to get the job in the next Trump administration, several Trump allies have said. Sen. Bill Hagerty (R., Tenn.) is also seen as a contender, the Journal has previously reported.