Billionaire John Paulson stated on Tuesday that he will not take on an official position in President-elect Trump’s administration, despite widespread speculation linking him to the role of Treasury secretary.
Paulson clarified in a statement shared with The Wall Street Journal that while he had been suggested as a possible choice for Secretary of the Treasury, his extensive financial obligations make it difficult for him to serve in such a role at this time.
Despite speculation, Paulson confirms he won’t join Trump’s Cabinet, citing business obligations
He went on to express his intention to remain involved in an advisory capacity, saying he plans to support the administration’s economic team and contribute to realizing Trump’s proposed policies.
A supporter of the Republican Party, Paulson has been vocal about his approval of Trump’s economic initiatives. In an interview last month, he discussed his eagerness to assist the Trump administration, particularly in collaboration with entrepreneur Elon Musk, aiming to streamline government spending.
Paulson conveyed optimism in Tuesday’s statement, saying he’s excited to see Trump back in office, commending the swift and strategic approach to appointments and the potential positive impact of Trump’s policies on Americans.
With Paulson opting out of a formal role, Scott Bessent, another prominent investor, is now seen as a frontrunner for the Treasury secretary position. Reports indicate that Bessent recently met with Trump at Mar-a-Lago, suggesting he may be under serious consideration for the post.
