PRINCIPLE

September 5, 2025

Bessent's nomination and the Doral G20 raise conflict and emoluments concerns

Bessent turns world economic summit into corporate deregulation festival

Scott Bessent, a former hedge fund manager who previously helped generate about $10 billion in gains for Soros-linked portfolios, was nominated as Treasury Secretary.

President Trump announced on Sept. 5, 2025 that the 2026 G20 will be held at Trump National Doral, scheduled for Dec. 14–15, 2026.

Reporters and watchdog groups raised emoluments and conflict questions. Bessent planned ethics steps, including returning outside capital, while watchdogs pointed to past CREW litigation and legal scholars who warned about constitutional risks.

President Donald TrumpDonald Trump announced on Sept. 5, 2025 that the United States will host the 2026 G20 at Trump National Doral, scheduled Dec. 14–15, 2026.

Scott BessentScott Bessent is the Treasury Secretary nominee with a long investment track record. Reporting attributes roughly $10 billion in historical profit to strategies he managed for Soros's accounts, but reporting also says he planned to return outside investors' capital after his nomination and follow ethics mitigation steps.

The G20 collectively accounts for the majority of global GDP and international trade, making its summit a powerful platform for economic policy, but specific numeric summaries should be cited to the G20 secretariat or IMF for exact percentages.

Watchdog group CREW and constitutional scholars previously sued and publicly warned about emoluments risks tied to presidential business interests. Courts issued mixed procedural rulings and the Supreme Court later dismissed the cases as moot after Trump left office in 2021.

Kevin HassettKevin Hassett has served as Director of the National Economic Council since January 20, 2025 and is a senior White House economic adviser coordinating policy.

Public reporting and ethics experts flagged the Doral decision as a potential conflict of interest. Those concerns echo the 2019 bipartisan backlash that led the Trump White House to abandon a plan to hold a 2020 leaders' summit at Doral.

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What You Can Do

1

civic action

Request ethics filings

Ask the Treasury and Office of Government Ethics for Secretary Bessent's public financial disclosure and recusal plan.

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2

civic action

Call Congress

Call your representative at 202-224-3121 and demand hearings on conflicts of interest tied to hosting international summits at private properties.

3

understanding

Monitor watchdog reporting

Track CREW and Public Citizen for filings and analyses of potential emoluments and conflicts tied to summit contracting.