Will John Paulson be new Treasury Secretary in Trump 2.0? All about the billionaire

Forbes estimates Paulson's net worth at $3.8 billion.

In March 2024, Donald Trump spoke about selecting billionaire hedge fund manager John Paulson as his Treasury Secretary if he become the US president again, Bloomberg reported.

The conversation was informal and in preliminary stage and no decision about a possible cabinet have been made by the former president, the report added.

Paulson served as one of the top economic advisers to Donald Trump's 2016 presidential campaign.

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With Trump inching closer to the White House after solid gains in swing states, there will be much focus on whether he does appoint Paulson to the key post during his second term.

Here's all you need to know about John Paulson:

Career and net worth

John Alfred Paulson, 68, is an American billionaire hedge fund manager. His hedge fund firm, Paulson & Co., was started in 1994 and enjoyed success as a niche fund until Paulson put on his "big short" in 2007. Paulson previously worked at several firms, including Boston Consulting Group and Bear Stearns, before founding Paulson & Co.

As per Forbes, John Paulson made his fortune betting against subprime mortgages at the peak of the 2007 credit bubble. In 2020, Paulson announced that he would be returning capital to investors and converting his hedge fund into a family office.

Forbes estimates Paulson's net worth at $3.8 billion.

Supporting Trump

Paulson has been a major backer for Donald Trump's 2024 campaign. On April 6, the Trump campaign reported a $50.5 million fundraising haul at John Paulson's Palm Beach house.

Paulson came in limelight when he backed Donald Trump after Trump secured the Republican nomination in 2016. Paulson served as one of the top economic advisers to Donald Trump's 2016 presidential campaign. The billionaire also said he'd pull his money from the stock market if Harris comes to power.

Together with his spouse, Paulson contributed $831,370 to Trump's 2020 presidential campaign.

Economic Views

Paulson predicted former President Trump would impose targeted tariffs on certain industries, instead of the universal tariffs Trump proposed, as per a Forbes report.

In an interview to a news website in October, Paulson said, "it makes sense to have the bulk of the tariffs targeted to industries that are subject to unfair trade competition” and “that are strategic, both for industry and defense.”

Paulson has repeatedly praised Trump’s tariff plans. In an opinion piece in Wall Street Journal, the hedge fund manager said they would “generate some $450 billion in revenue,” while blasting existing trade policies as “one-sided” because the U.S. imposes lower tariffs than other countries.