Paulson has ruled out joining Trump's administration

The billionaire investor John Paulson announced on Tuesday that he will not be participating in the incoming administration of President-elect Trump.

This announcement was made in response to rumors that he could be selected to serve as the Treasury secretary, as Breitbart News reported.

“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 a statement, first reported by The Wall Street Journal.

“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,” he added.

About the Candidate

The Republican megadonor Paulson has been an outspoken advocate for Trump's economic policies.

He discussed his possible involvement in a Trump administration with the Journal last month, promising to collaborate with tech tycoon and important Trump supporter Elon Musk on initiatives to reduce government expenditure.

“I’m ecstatic that President Trump will be back in office,” Paulson said in Tuesday’s statement. “He is off to a fast start with his appointments, and his policies will have an immensely positive impact on all Americans.”

In light of Paulson's resignation, Scott Bessent, a fellow investor, is considered the most probable candidate to serve as Trump's Treasury secretary.

The Meeting

The Treasury Secretary oversees economic, regulatory, and foreign issues as a Cabinet member. Wall Street is closely watching Trump's nominee, especially given his tariff intentions to reshape global trade.

Trump has long wanted Bessent and Paulson, campaign contributors, for such a job. In a January campaign speech, Trump suggested Paulson as Treasury Secretary. At the time, a source stated that Trump preferred Paulson or Bessent to oversee the Treasury.

As a former Yale University professor and hedge fund investor, Bessent has a positive relationship with the president-elect and supports Trump's use of tariffs as a bargaining tool. Billionaire investor Paulson, a big Trump backer, has long advocated for tax reduction and deregulation.

Other possible candidates include FOX Business Network host Larry Kudlow, former U.S. trade representative Robert Lighthizer, and Trump transition team co-chair Howard Lutnick.