The latest asset map of U.S. Treasury Secretary Basent has surfaced. Nine bank accounts with at least six figures, three with balances exceeding 50 million dollars, along with a Bahamas mansion and a collection of artworks.

Source: Jin Shi Data

The latest financial disclosure from U.S. Treasury Secretary Basent shows that in 2025, the value of his assets is at least 228 million dollars, from which he gained an income of at least 5.1 million dollars. Because U.S. officials' financial disclosures use range reporting, and the highest tier is only marked as "over 50 million dollars," this number is merely the lower limit of his asset scale, and the actual value may be higher.

Foreign media reported that this document released on Tuesday covers the first year after Basent took office in the government. The disclosure shows that he currently has nine bank accounts, each at least reaching six figures, with three of those accounts having balances exceeding 50 million dollars. In addition to a significant amount of cash or deposit-type assets, he also holds a small stake in the drug research and development company Cambrian Biopharma.

Basent also disclosed residential real estate located in the Bahamas, valued at no less than 5 million dollars; his collection of artworks and antiques is similarly valued at at least 5 million dollars. Furthermore, he owns an undeveloped piece of land in North Carolina, reported to be valued between 250,001 dollars and 500,000 dollars.

The asset scale presented in this disclosure has significantly decreased compared to before Basent entered the government. When nominated for the position of Treasury Secretary, he reported at least 521 million dollars in assets, with nine items in the highest valuation tier of the disclosure system, all related to the macro hedge fund Key Square Group, which he founded and managed for a long time.

Public data also shows that his early reported lower asset limit reached 521 million dollars, but this figure itself is also not a complete market valuation.

From Hedge Fund Assets to Bank Accounts

The latest documents indicate that Basent has sold his stake in Key Square Group after joining the Trump administration. This means that the total lower limit of assets in the latest report has dropped from 521 million dollars to 228 million dollars, which cannot be directly interpreted as a nearly 300 million dollar decrease in his wealth.

The reason is that the U.S. financial disclosure system only requires officials to report assets according to a broader range of values. Many of the assets previously related to Key Square were counted in the "over 50 million dollars" highest tier, and if proceeds from selling these assets were concentrated into fewer bank accounts, the accounts still exceeding 50 million dollars are only calculated at the minimum value of 50 million dollars in the disclosure form, which can significantly lower the aggregated lower asset limit.

The disclosure document also shows that Basent sold his holdings in ETFs that specifically invest in the German and Thai markets. Some assets required to be sold after he took office took longer to process, with three funds stipulating that he could only redeem up to 25% of his holdings each quarter. The documents indicate that he only completed the exit of the last batch of relevant assets by September 2025.

U.S. officials are required to divest assets to avoid conflicts of interest, and if they invest the funds into qualifying assets such as U.S. Treasury bonds or broadly diversified mutual funds within 60 days of the sale, they can obtain corresponding capital gains tax deferral arrangements. This system aims to prevent the forced disposition of assets due to government service from immediately triggering tax liabilities.

Spouse Morgan Chase Holdings Reporting Error, Basent Pays 200 Dollar Fine

The latest disclosure also involves a previous reporting error. The documents show that Basent paid a 200 dollar fine for an asset held by his spouse, John Freeman.

Freeman previously held an equity investment in Morgan Chase, which could pose a conflict of interest, but in Basent's initial financial disclosure, it was incorrectly reported as a bank deposit account. The documents state that this error was discovered in July 2025, and the related holdings were subsequently sold.

The Inspector General of the U.S. Treasury later investigated the matter and concluded that Basent did not intentionally violate government ethics regulations. Officials responsible for ethics affairs at the Treasury also agreed with this conclusion.

From the latest disclosures, it is evident that Basent's asset structure has undergone significant changes after entering the government. The substantial equity previously concentrated in his hedge funds and related investment tools has exited, replaced by large bank accounts, as well as real estate, artworks, and a small amount of private business investments.

However, since the reporting system uses ranges instead of precise amounts, the reality of just three bank accounts "exceeding 50 million dollars" could actually be far above 150 million dollars, thus, the 228 million dollars can only be seen as the minimum value of assets that Basent can currently publicly confirm, rather than his accurate net worth scale.