Secretary Bessent Slams Governor Newsom as ‘Patrick Bateman Meets Sparkle Beach Ken’ in Davos Smackdown

In Davos at the 2026 World Economic Forum, U.S. Treasury Secretary Scott Bessent took direct aim at California Governor Gavin Newsom, mocking his economic leadership and labeling him “Patrick Bateman meets Sparkle Beach Ken” – a reference to the superficial, psychopathic character from American Psycho blended with a coiffed and glitzy empty-suit aesthetic. 

Bessent, championing President Donald Trump’s “America First” agenda, contrasted the administration’s successes in deregulation, tax cuts, and tariffs with what he called Newsom’s “failed policies” that have left California reeling from fiscal chaos, rampant homelessness, and government malfeasance. 

When a reporter asked him about Gavin Newsom claiming that Bessent was “smug,” Bessent fired:

“I was told he was asked to give a speech on his signature policies, but he’s not speaking because what have his economic policies brought?” The Treasury Secretary then accused Newsom of being economically illiterate, worse than Kamala Harris.

WATCH:

Bessent is relentless, fearless, tough and brilliant. pic.twitter.com/chGKfmLnl4

— Patrick Bet-David (@patrickbetdavid) January 21, 2026

Bessent landed another blow, observing: “He is here this week with his billionaire Sugar Daddy Alex Soros,” which lit up social media and set the meme world on fire.

Alex Soros showing off his newest purchase from the World Economic Forum pic.twitter.com/Zn4S1GmxL0

— Kevin Dalton (@TheKevinDalton) January 20, 2026

New merch just dropped. WEF exclusive. https://t.co/2LcYLeCsNY pic.twitter.com/Lp5iuFMt5U

— Mark Fabela (@markdfabela) January 21, 2026

Bessent’s full, scathing remarks juxtaposed the “Trump Model” of populism as an antidote to the “failed Davos Model” of globalism, highlighting U.S. achievements like private sector job growth, wage growth, and energy independence; and further, highlights how Newsom’s priorities have contributed to California’s decline. Although, the governor boasts about the state’s fourth-largest economy in the world, Newsom smugly ignores details like trillion-dollar deficits, high taxes, and exorbitant gas prices. 

This high-profile, international smackdown resonates deeply in California, where Newsom’s tenure has been marred by a litany of policy failures and outright fraud. As detailed in the California Globe’s comprehensive review, the governor has ushered in no fewer than 50 disasters, including upended financial structures, compromised public safety, and deteriorating infrastructure, as outlined in the state auditor’s damning report.  

From skyrocketing unemployment following his fast-food minimum wage hike to a 30 percent decline in job openings, Newsom’s economic experiments have accelerated California’s out-migration. 

Wasteful spending and anti-business regulations have caused California-based entrepreneurs to flee the state under Newsom’s excessive regulatory burden. Iconic chains like In-N-Out Burger have relocated headquarters, citing impossible (Democratic) policies and politically-driven lockdowns that forced them to jump through unnecessary hoops and added pressures on operations.

Newsom’s “leadership,” which includes his attempts to “Trump-proof” the state with a $50 million legal slush fund – now tied up in 37 lawsuits – shows a political vendetta, rather than true governance by addressing core issues like poverty and crime and failing infrastructure.

Not surprisingly, public and property safety under Newsom has crumbled. Despite a recent announcement of a law enforcement surge to combat crime, the governor’s policies since 2019 have led to a significant decrease in prison populations, exacerbating vandalism and theft issues in cities, exacerbated by Biden’s open southern border and sanctuary state hand outs.

Compounding these failures is the staggering scale of fraud and waste under Newsom’s watch, particularly in homelessness programs and unemployment benefits. California has poured $37 billion into homelessness initiatives since 2019, yet the crisis has only worsened, with audits revealing inadequate tracking of funds and rampant mismanagement.  

The state is involved in a nationwide scandal involving $5.8 billion in fraudulent rental assistance payments, including disbursements to deceased or ineligible recipients.  

In San Francisco alone, the Department of Homelessness and Supportive Housing awarded $87 million in contracts to non-compliant nonprofits, some facing FBI investigations for fraud and illegal activities. The Trump administration’s Homelessness Fraud and Corruption Task Force has already led to arrests announced U.S. Attorney Bill Essayli, including executives accused of embezzling tens of millions intended for low-income housing to fund lavish lifestyles. 

The Employment Development Department (EDD) under Newsom represents another epicenter of fiscal disaster, with pandemic-era unemployment fraud estimated between $30 billion and $54 billion—funds siphoned by domestic and international criminals, including payments to prisoners and out-of-state claimants. This fraud, which experts link to inadequate safeguards and oversight, even potentially funded North Korea’s nuclear program through laundered proceeds. Despite these losses, former Labor Secretary Julie Su—Newsom’s appointee—forgave $32.6 billion in related federal debt, shifting the burden onto taxpayers.  The state auditor has, for years, flagged the EDD as “high-risk” for fraud, part of a broader $76 billion in waste, fraud, and abuse across eight agencies under Newsom’s administration. These high risk agencies have doubled under Newsom’s tenure. 

Even Newsom’s “green and clean” environmental pursuits have drawn fire–and caused wildfires. 

His climate partnerships, such as the recent one with Kenya, prioritize global pollution cuts over California’s immediate needs, like wildfire prevention – an area where he belatedly claims to have increased investments tenfold since taking office, yet Pacific Palisades burned to the ground due to bureaucratic malfeasance– like empty water reservoirs and environmental “green” regulations that prohibited necessary ground clearings due to a protected shrub.

If you haven't heard the story of Gavin Newsom funding (and lying about funding) the creation of a bust of himself to sit in San Francisco City Hall, TYT did a great job breaking it down.

On a side note, Newsom is in Davos right now talking about what a narcissist Trump is. pic.twitter.com/5zTUFf05pu

— MAZE (@mazemoore) January 20, 2026

Adding to the portrait of reckless vanity and chronic self-promotion, revelations from recent investigations and books have spotlighted a bronze bust of Newsom installed in San Francisco City Hall to commemorate his mayoral tenure (2004-2011). The nearly $100,000 sculpture, crafted by artist Bruce Wolfe and placed alongside busts of predecessors like Dianne Feinstein, Willie Brown, and George Moscone, was quietly unveiled in 2018 with minimal fanfare—attended by family, friends, and representatives from the fundraising nonprofit ArtCare.

While Newsom’s office has insisted the effort was independently proposed and funded by private donors through customary channels, reports from a 2025 book, Fool’s Gold: The Radicals, Con Artists, and Traitors Who Killed the California Dream and Now Threaten Us All by Susan Crabtree and Jedd McFatter, allege the use of “behested payments”—donations solicited by politicians to third-party causes. Records show two companies tied to Newsom—Balboa Cafe Partners and PlumpJack Management Group—contributed a combined $10,000 to a nonprofit (Community Initiatives) earmarked for the “Mayoral Bust at San Francisco City Hall.” Newsom’s spokesperson has categorically denied personal funding or proposal of the bust, noting that his wife, Jennifer Siebel Newsom, helped raise the money—a detail previously reported in 2018 San Francisco Chronicle coverage.

This bronzed bust adds to the pattern of Newsom family ties to nonprofits and fundraising. First Partner Jennifer Siebel Newsom’s own nonprofit, The Representation Project—focused on gender justice through film and education—has drawn criticism for receiving donations from companies lobbying the state, while paying her substantial salaries as Californian’s struggle under the weight of her husband’s progressive edicts.

The governor’s recent vanity podcast and about-faces – like courting Big Oil after years of antagonism – suggest an attempt to rehab his image ahead of potential presidential ambitions.  Yet, as the California Globe has documented, from delayed special elections and race- based gerrymandering, to emergency proclamations that prolong his power.

From Davos, Besssent promised that the Trump administration will crack down on the rampant waste, fraud and abuse plaguing the once-Golden state . I am sure that millions of Californians won’t forget that as The Globe will provide the coverage when the audits and investigations begin, and where they end.