Trump backer John Paulson bows out as possible Treasury secretary pick
John Paulson visits “Mornings With Maria” at Fox Business Network Studios on October 23, 2024 in New York City.
John Lamparski | Getty Images
The investor John Paulson removed himself Tuesday from consideration as a potential nominee for Treasury secretary by President-elect Donald Trump.
Paulson said, “My complex financial obligations would prevent me from holding an official position in President Trump’s administration at this time.”
“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 said in a statement.
Paulson, who heads the Paulson & Co. family office, has a net worth of $3.8 billion, according to Forbes,
The Trump donor is famous for shorting the subprime mortgage market in 2007, a year before the financial crisis.
Paulson predicted in September that the stock market would crash if Vice President Kamala Harris won the presidential election.
The Wall Street Journal first reported that Paulson had dropped out of consideration for the Treasury post.
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