Trump Treasury Secretary Pick was Protégé of George Soros

In the heat of the 2000 presidential campaign, Vice President Al Gore took a break from barnstorming battleground states to attend a fund-raiser for the Democratic National Committee in East Hampton, N.Y. Standing behind Mr. Gore onstage was Scott Bessent, a hedge fund manager and — at the time — a major donor to Democrats who co-hosted the event at his home.

On Friday evening, Mr. Bessent was tapped by President-elect Donald J. Trump to be his Treasury secretary. Having won the trust of Mr. Trump and his inner circle, Mr. Bessent would lead a Republican economic agenda of cutting taxes, culling federal regulations and enacting sweeping tariffs.

The selection caps an extraordinary career arc for an investor who was once a protégé of the liberal billionaire philanthropist George Soros and who gave money to top Democrats including Hillary Clinton, John Kerry and Barack Obama.