Billionaire investor John Paulson, who was being considered for the position of U.S. Treasury Secretary under President-elect Donald Trump, has decided not to accept the role due to "complex financial obligations."

This decision comes as the Trump administration finalizes its cabinet selections, considering various high-profile figures for key economic roles. Paulson's expertise in finance and investment had made him a prominent choice for the Treasury post, leading to expectations about potential policy directions under his leadership.