Hedge fund executive Scott Bessent will face a Senate confirmation hearing for Treasury secretary on Thursday, which could make him the first openly gay Cabinet member of a Republican administration.

Scott Bessent, President-elect Trump's pick for treasury secretary, will appear for a Senate Finance Committee confirmation hearing on Thursday, where he will discuss the incoming president's economic vision.

Here's what to know about the Treasury secretary pick Bessent, who heads into his confirmation hearing and may become the first Senate-approved LGBTQ+ member in a Republican cabinet.