Anamika Dey, editor
Brief news
- Elon Musk has publicly endorsed Howard Lutnick for the Treasury secretary position, emphasizing his potential to enact change, while criticizing Scott Bessent as a “business-as-usual choice.”
- President-elect Donald Trump has not yet made a decision on his Treasury secretary selection, with his spokesperson indicating that evaluations are still ongoing.
- Both Lutnick and Bessent have strong ties to Trump, with Lutnick having organized fundraising events for him and Bessent serving as an economic advisor during Trump’s 2024 campaign.
Detailed news
The candidate that Elon Musk is supporting for the position of Treasury secretary on X was revealed on Saturday. President-elect Donald Trump has not yet disclosed his selection for the individual to serve this cabinet position.
By writing that Howard Lutnick, the co-chair of the Trump-Vance transition and the CEO of Cantor Fitzgerald, as well as the chairman of BGC Group and Newmark Group, will “actually enact change,” Musk was referring to their relationship.
Lutnick and Scott Bessent, the founder and CEO of Key Square Group, are allegedly among the most prominent candidates for the position of Treasury Department head.
Musk, the Chief Executive Officer of both Tesla and SpaceX, offered his comments on Bessent in the post that he made on X.
He wrote, “My view is that Bessent is a business-as-usual choice,” according to his point of view.
The continuation of business as usual is causing the United States to go bankrupt, therefore we need to make some kind of change, he continued.
Additionally, Musk remarked that it would be “interesting to hear more people weigh in on this for @realDonaldTrump to consider feedback.”
In a statement that was provided to Politico, Karoline Leavitt, who is the spokesperson for the Trump transition, made it abundantly apparent that the president-elect has not yet concluded any judgments concerning the job of Treasury secretary.
According to a statement released by Leavitt, “President-elect Trump is currently in the process of making decisions regarding who will serve in his second administration.” The announcement of those decisions will take place once they have been made.
Lutnick and Bessent are both closely connected to Trump in some way. Over the course of several decades, Lutnick and Trump have been acquainted with one another, and the CEO has even organized a fundraising event for the incoming president.
According to another story from the Wall Street Journal, Lutnick has already been assisting Trump in the process of evaluating potential candidates for cabinet positions inside his government.
Bessent, on the other hand, served as an important economic counselor to the president-elect during his campaign for the presidency in 2024. According to Semafor, Bessent was also given the support of South Carolina Senator Lindsey Graham, who is a member of the Republican Party.
The statement that Graham made was, “He is from South Carolina, I know him very well, and he is highly qualified.”
Source : CNBC news
