Hedge fund manager John Paulson has bowed out of the running to become Treasury secretary in the second Trump administration.

“Although various media outlets have mentioned me as a candidate for Secretary of the Treasury, my complex financial obligations would prevent me from holding an official position in President Trump’s administration at this time,” Mr. Paulson said in a statement.

“However, I intend to remain actively involved with the president’s economic team and helping in the implementation of President Trump’s outstanding policy proposals,” he said. The Wall Street Journal was the first to report him dropping out.

Mr. Paulson is a big Trump donor, and heads the Paulson & Co. hedge fund. He is best known for betting against the housing market before the collapse in 2008 and making billions of dollars.

He said earlier this month that he believed the stock market would crash if Vice President Kamala Harris was elected, due to her tax plans.

Other names floated for the Treasury post reportedly include Scott Bessent, another prominent Wall Street figure.

• Mallory Wilson can be reached at mwilson@washingtontimes.com.