U.S. Treasury Secretary Scott Bessent publicly dismantled California Governor Gavin Newsom on the world stage at the World Economic Forum in Davos, Switzerland, delivering a blistering critique of Newsom’s economic record, political ambition, and elite hypocrisy — capped off with a nickname that instantly went viral.
Speaking before global leaders and investors, Bessent made it clear that Newsom’s carefully curated image as a future presidential contender does not survive contact with economic reality.
“Patrick Bateman Meets Sparkle Beach Ken”
Bessent’s most memorable line cut straight through Newsom’s branding.
“I think it’s very, very ironic that Gov. Newsom, who strikes me as Patrick Bateman meets Sparkle Beach Ken, may be the only Californian who knows less about economics than Kamala Harris,” Bessent said, drawing laughter and immediate online reaction.
But the Treasury Secretary was just getting started.
“He’s here this week with his billionaire sugar daddy, Alex Soros,” Bessent added, noting the irony of Newsom mingling with global elites while California struggles under economic collapse.
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Hypocrisy Laid Bare
Bessent reminded the Davos audience that while ordinary Californians were locked down, fined, or arrested for attending church during COVID, Newsom was dining at the exclusive French Laundry restaurant on a taxpayer-funded salary.
“Davos is the perfect place for a man who, when everyone else was on lockdown, was having $1,000-a-night meals,” Bessent said. “I’m sure the people of California won’t forget that.”
The contrast was unmistakable: elite privilege versus public sacrifice — enforced only one way.
California’s Record Under Newsom
Bessent then listed the tangible outcomes of Newsom’s governance — not slogans, not press releases, but results:
- Outward migration from California
- A massive and growing budget deficit
- The largest homeless population in the United States
- Residents displaced by wildfires while their governor “hobnobs with the global elite”
“He was asked to speak about his signature economic policies,” Bessent said. “But he’s not speaking. Because what have his economic policies brought?”
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The answer, Bessent implied, is failure.
“Shame on him,” Bessent concluded. “He is too smug, too self-absorbed, and too economically illiterate to know anything.”
Trump Administration Signals Crackdown
Bessent made clear this was not just rhetorical.
“My message to Gov. Newsom is that the Trump administration is coming to California,” he said. “We’re going to crack down on waste, fraud, and abuse.”
The remark landed as both warning and promise — one that sharply contrasts with years of federal deference to California’s political class.
Bessent Shrugs Off European Panic
While in Davos, Bessent also addressed reports claiming European investors were dumping U.S. Treasury bonds — dismissing the narrative outright.
“Denmark’s investment in U.S. Treasury bonds, like Denmark itself, is irrelevant,” Bessent said, according to CNBC. “That is less than $100 million.”
He added that foreign investment in U.S. Treasurys is actually at record levels and that the panic originated with a single analyst at Deutsche Bank, later amplified by what he called the “fake news media.”
Greenland and National Security
Bessent also addressed the Trump administration’s position on Greenland, framing it as a matter of hemispheric security.
“We are asking our allies to understand that Greenland needs to be part of the United States,” Bessent said, adding that America will no longer outsource its national or regional security.
He also criticized the U.K. over its handling of the Diego Garcia base, reinforcing that President Donald Trump is serious about restoring strategic control.
The Takeaway
At Davos — the very arena Newsom hoped would elevate him — his image was dismantled by facts, record, and ridicule. Bessent didn’t just mock Newsom; he exposed him.
In global politics, perception matters. And this week, Gavin Newsom wasn’t seen as a rising leader — he was seen as a cautionary tale.
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