Key Takeaways:
– Elon Musk endorses Howard Lutnick for the position of Treasury Secretary in President-elect Donald Trump’s second administration.
– Lutnick is recognized as a ‘change maker’ in opposition to usual business approaches which Musk states are leading America to bankruptcy.
– Musk invites public opinion to influence Trump’s decision-making process.
– Trump transition team ensures no decisions have been made yet for the position of Treasury Secretary.
– Both Howard Lutnick and Scott Bessent, Trump’s other potential pick, have shared a long-term association with President-elect Donald Trump.
Elon Musk’s Endorsement
Elon Musk, CEO of Tesla and SpaceX, has publicly endorsed Howard Lutnick for the cabinet position of Treasury Secretary in President-elect Donald Trump’s forthcoming administration. Musk revealed his preference via a post on X, emphasizing that Lutnick, the current CEO and Chairman of Cantor Fitzgerald, BGC Group, and Newmark Group, would be a change-making candidate.
Sharing his perspective on the matter, Musk wrote, “My view fwiw is that Bessent is a business-as-usual choice. Business-as-usual is driving America bankrupt so we need change one way or another.” It’s clear Musk sees an urgent need for a fresh approach and believes Lutnick could bring this to Trump’s second term in office.
Call for Public Opinion
In his post, Musk also mentioned that it would be intriguing to garner more public opinion on the selection process. He stated, “It will be interesting to hear more people weigh in on this for President-elect Donald Trump to consider feedback.” This suggests that Musk is eager for a more democratic discussion on cabinet appointments.
Trump’s Transition Team Responds
In response to Musk’s endorsement, Karoline Leavitt, the spokesperson for Trump’s transition team, clarified to Politico News that the President-elect is yet to make his choice for the role. She stated, “President-elect Trump is making decisions on who will serve in his second administration. Those decisions will be announced when they are made.”
The Close Ties with Trump
Both Lutnick and Scott Bessent, founder and CEO of Key Square Group, have maintained close ties with Trump. Lutnick has shared a decades-long relationship with the president-elect and has also hosted a fundraiser for him recently. Moreover, Lutnick has reportedly started aiding Trump in reviewing candidates for cabinet roles in his prospective administration.
On the other hand, Bessent served as an important economic advisor during Trump’s 2024 campaign. Bessent’s influence within the Trump campaign is boosted by an endorsement from Republican Senator Lindsey Graham from South Carolina. Graham regarded him as highly qualified for the role and stated, “He’s from South Carolina, I know him well.”
Overall, the selection of the new Treasury Secretary is set to have immense proportions for the Trump’s administration’s second-term economic policies. While Musk points to the need for radical change, it remains to be seen if Trump takes heed of his endorsement and opts for a change-making candidate such as Lutnick over a business-as-usual candidate like Bessent.