In a recent announcement, billionaire investor John Paulson withdrew from consideration for Treasury secretary under President-elect Donald Trump, citing “complex financial obligations” that would preclude him from taking on an official position. Paulson, founder of Paulson & Co. and valued at an estimated $3.8 billion, conveyed support for Trump’s economic vision, while opting to remain behind the scenes rather than in a cabinet role.

Paulson, a prominent hedge fund manager best known for profiting during the 2007 mortgage crisis, was a significant donor to Trump’s campaigns, raising over $40 million in 2024 alone. Despite his absence from a formal position, Paulson stated he plans to work closely with Trump’s economic team, aiding in the implementation of key policy measures.

Paulson’s decision follows personal financial complexities, including an ongoing high-profile divorce involving contested assets. Additionally, his relationship with weight-loss influencer Alina De Almeida has kept him in media attention. Fellow investor Scott Bessent, a current economic adviser to Trump, is now considered a top contender for the Treasury position.