American financier Scott Besant was confirmed by the Senate of the US Congress as Secretary of the Treasury, BTA reported.
He will be tasked with implementing Donald Trump's financial policy - deregulation, tax cuts and spending, notes Agence France-Presse.
68 senators voted for Besant, while 29 were against him.
The ministry, headed by billionaire Besant, is responsible for the federal budget, banking regulation and can freeze the assets of individuals and legal entities based abroad.
Besant was heard in the Senate in mid-August and then showed that he fully agrees with Trump's ideas for a new golden age for the US through lower taxes, lower budget spending and less regulation.
Besant also supports Trump's plans to impose super-tariffs in the name of protecting domestic producers and in order to obtain concessions from the affected countries. According to Besant, these tariffs do not risk increasing prices for Americans.
Besant runs his own investment company, "Key Square Capital Management". However, he says that he has not always enjoyed financial well-being. When he was young, his father had great financial difficulties. At the age of nine, he started working in the summer and has not stopped since. He eventually studied at the prestigious Yale University, from which he graduated in 1984.
Besant was a friend of Robert Trump, the late brother of Donald Trump. He has known the Trump family for 30 years. Donald Trump describes him as one of the greatest analysts on "Wall Street".
Just after the US elections, Besson said that being in the Trump administration is an easy job because it is not about proposing new policies, but about doing whatever Trump wants.
Before joining the Republican camp, however, Besson built a significant part of his career with the Democratic financier George Soros. At one point, from 2011 to 2015, he was the investment director at Soros's investment fund. There, he managed to earn enough money to create his own investment company. In those years, Soros and Besson no longer spoke to each other.
The curious thing is that Besson is homosexual. He has a husband and two children born to a surrogate mother. Besant thus became the first openly homosexual in a Republican government.