Elon Musk at the 10th Annual Breakthrough Award Gala held at the Academy of Motion Pictures Museum on April 13, 2024 in Los Angeles, California.
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On Saturday, Elon Musk shared who he is backing for Treasury Secretary at X, a Cabinet position that President-elect Donald Trump has yet to announce his preference for.
Howard Lutnick, Trump-Vance transition co-chairman and CEO and president of Cantor Fitzgerald, chairman of BGC and chairman of Newmark Group, “will actually enact change,” Musk wrote.
Lutnick and Key Square Group founder and CEO Scott Besent are said to be top candidates to run the Treasury Department.
Musk, JEO from Tesla and SpaceX, also included his thoughts on Bessent in his post on X.
“My general view is that Bessent is a business as usual option,” he wrote.
He added: “Business as usual is driving America bankrupt, so we need to change one way or another.”
Musk also stated that it would be “interesting to hear more people think about this so @realDonaldTrump weighs in on the comments.”
Howard Lutnick, Chairman and CEO of Cantor Fitzgerald LP, left, and Elon Musk, CEO of Tesla, during a campaign event with former US President Donald Trump, at Madison Square Garden in New York, US, on Sunday, October 27, 2024 .
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In a statement to Politico, Trump's transition spokeswoman, Carolyn Levitt, explained that the president-elect has not made any decisions regarding the position of Treasury Secretary.
“President-elect Trump is making decisions about who will serve in his second administration,” Leavitt said in a statement. “These decisions will be announced when they are made.”
Both Lutnick and Picent have close ties to Trump. Lutnick and Trump have known each other for decades, and the CEO even hosted a fundraiser for the president-elect.
The Wall Street Journal also reported that Lutnick was already helping Trump review nominees for Cabinet positions in his administration.
On the other hand, Bescent was a key economic advisor to the president-elect during his 2024 campaign. Bescent also received the endorsement of Republican Senator Lindsey Graham of South Carolina, according to Semaphore.
“He's from South Carolina, I know him well, and he's highly qualified,” Graham said.
