California Governor Gavin Newsom found himself at the center of a heated exchange with Scott Bessent, former Treasury Secretary under President Donald Trump, during a recent World Economic Forum event in Davos. Bessent’s controversial remarks regarding housing have drawn widespread criticism, particularly his assertion that it is reasonable for “mom and pop” investors to purchase multiple homes for retirement.
Bessent, 63, faced sharp backlash after suggesting that it is normal for individuals to own multiple properties, which led Newsom to characterize him as a “smug man.” In a dramatic counterattack, Bessent likened Newsom to the fictional character Patrick Bateman from “American Psycho,” describing the governor as someone who lacks economic understanding, even suggesting he knows less than Vice President Kamala Harris.
In a later interview, Bessent did not hold back, saying, “Governor Newsom, who strikes me as Patrick Bateman meets Sparkle Beach Ken, may be the only Californian who knows less about economics than Kamala Harris.” He criticized Newsom for associating with wealthy elites like Alex Soros while California grapples with a significant homelessness crisis, labeling Newsom as “too smug, too self-absorbed, and too economically illiterate.”
Newsom, responding to the controversy, asserted that he occupies Bessent’s thoughts, indicating his intention to challenge figures from Trump’s administration during his trip. He shared a clip of Bessent’s remarks on social media, making his stance clear: “Scott, people are trying to buy 1 house—to live in.” He further questioned how Bessent could be so disconnected from the realities facing everyday Californians.
Throughout the event in Davos, Newsom positioned himself strategically, making it evident that he aims not only to shadow Trump and his allies but also to capitalize on their controversial statements. While Bessent has touted the benefits of former President Trump’s energy policies, the effectiveness of these claims remains debatable when contrasted with current national gas prices.
This exchange reflects the ongoing political tensions as the 2024 presidential race approaches, with Newsom emerging as a vocal critic of Trump and his administration’s economic policies. Newsom’s spotlight at the World Economic Forum serves to amplify his visibility and potential candidacy for the upcoming presidential election.