Rudolph Angler Elon Musk has voiced his support for Howard Lutnick, the CEO of Cantor Fitzgerald, as a potential choice for Treasury secretary under President-elect Donald Trump. Musk shared his opinion on social media, stating that Lutnick would “actually enact change” if appointed, contrasting him with Scott Bessent, the founder of Key Square Group, who is also a leading contender for the role.
Musk’s endorsement comes as Trump has not yet made a formal announcement about his pick for Treasury secretary. Both Lutnick and Bessent are regarded as top candidates for the position, which holds significant importance in Trump’s administration, particularly given the economic issues that played a crucial role in his electoral success.
While the economy is growing and unemployment remains low, there is widespread frustration among Americans about rising prices and what they perceive as persistent inflation. Lutnick, who has known Trump for decades and has previously supported his campaigns, is well-positioned to take on a key role in the administration. Bessent, on the other hand, has been a trusted economic advisor to Trump during the campaign and is known for running the macro hedge fund Key Square Group.
Senator Lindsey Graham, a Trump ally, expressed his support for Bessent, calling him an “outstanding” candidate. However, Musk argued that Bessent would represent a “business-as-usual” approach, whereas Lutnick could bring the kind of change that many conservatives are seeking. Musk further emphasized that “business-as-usual is driving America bankrupt,” urging that a change in direction is necessary.
Lutnick, who co-chaired Trump’s transition team, has been playing an influential role in the president-elect’s inner circle, assisting in the review of candidates for key administration positions.