Trump backer John Paulson bows out as possible Treasury Secretary pick

November 12

John Paulson visits “Mornings With Maria” at Fox Business Network Studios on October 23, 2024 in New York City.

John Lamparski | Getty Images

Hedge fund chief John Paulson has removed himself from consideration as a potential nominee for Treasury secretary by President-elect Donald Trump, NBC News confirmed Tuesday.

Paulson is the head of Paulson & Co. hedge fund and is famous for having shorted the subprime mortgage market in 2007, a year before the financial crisis.

The Trump donor 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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