Treasury Secretary Scott Bessent (Washington Blade photo by Michael Key)
Treasury Secretary Scott Bessent participated in an interview in which he said his sexuality had no impact on the president’s selection of him.
On Oct. 4, Axios co-founder Mike Allen interviewed Secretary Bessent, the 79th person to lead the Treasury Department, in the “Cash Room” in the Treasury building. The two talked for more than 40 minutes about issues related to the current administration’s efforts for Axios’s YouTube channel.
Bessent has been something of an anomaly during this administration, breaking what many consider the “gay glass ceiling.” He is the first openly gay person to lead the U.S. Treasury Department, the first openly gay Senate-confirmed Cabinet member in a Republican administration, and the highest-ranking LGBTQ government official in U.S. history.
The two covered various ground — about the state of the U.S. economy, the various AI approaches by the Trump administration, and the war in Iran. All things that have made President Trump’s constant appraisal of the U.S. economy difficult to sell to the American people as the affordability crisis has worsened.
Toward the end of the interview, Allen asked Bessent about deciding not to attend the U.S. Naval Academy, knowing his sexuality would be a hindrance, and instead attending Yale University. Allen asked if his choice to attend the Ivy League school held him back in life.
“I don’t think it did at all, and it’s very difficult to talk about the counterfactual… but I don’t think going to Yale held me back,” Bessent said. “Maybe some people at other schools would think it might. But I think it makes you aware, and I’ve openly spoken about it before, too. I think maybe some of my career choices were influenced by it.”
The U.S. Naval Academy only began allowing openly LGBTQ students to apply — and be open about their sexuality — following the 2011 repeal of “Don’t Ask, Don’t Tell.” Prior to the policy’s removal, students could be removed from the school for violating the rules, including rules related to their sexuality.
“You said President Trump chose me because he believes I’m the best candidate, not because of my sexual preference or your green eyes…,” Allen said.
“Exactly,” Bessent replied. “And I think that’s one of the reasons we have such a great team. The president makes his decisions all the time. You know, he’ll occasionally tell me, ‘You’re breaking my friends’ hearts.’ They see you on TV and they want an intro, and we have to break the news to them.”
Bessent has been married to former New York prosecutor John Freeman since 2011, and they have lived together in South Carolina. There, they had two children through surrogacy.
Despite being a member of the LGBTQ community, Bessent has publicly supported Trump’s policies, including some that have drawn criticism from LGBTQ advocates and organizations. These include reductions to PEPFAR funding, policies removing transgender service members from the military, recognizing only two sexes, removing LGBTQ protections from Title IX, and other policies that LGBTQ advocates argue come at the cost of LGBTQ safety and protections.
The Washington Blade has reached out to the Treasury Department and Secretary Bessent’s team for comment and responses to these questions, including questions about how he views his identity and sexuality in relation to — and potentially at odds with — the policies and mission of the current administration. The Blade did not receive a response by publication time.
The National LGBT Media Association represents 13 legacy publications in major markets across the country with a collective readership of more than 400K in print and more than 1 million + online. Learn more here: NationalLGBTMediaAssociation.com.
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