At the 10th awards ceremony held at the Academy Museum of Motion Pictures on April 13, 2024, Elon Musk made headlines by expressing his support for potential candidates for the position of Treasury secretary. This announcement comes as President-elect Donald Trump has yet to reveal his choice for this crucial Cabinet role.
Through a post on This endorsement highlights Musk’s belief in the need for a change in economic policy.
Reports indicate that Lutnick and Scott Bessent, founder and CEO of Key Square Group, are the leading contenders for the Treasury Department. Musk also shared his view on Bessent, describing him as a “normal choice.” He stressed the urgency of a change in leadership, suggesting that “business as usual is driving America bankrupt,” and called for a new approach.
Musk also encouraged broader discussions on the topic, urging more voices to share their opinions so Trump can take public feedback into account when making his decision.
In a statement to Politico, transition spokeswoman Karoline Leavitt clarified that Trump has not yet finalized his decision regarding the Treasury secretary position. He said the president-elect is currently evaluating candidates for his second administration, with announcements expected in due course.
Both Lutnick and Bessent have long-standing ties to Trump. Lutnick has known Trump for decades and even hosted a fundraiser for him, demonstrating their close relationship. Additionally, Lutnick reportedly assisted Trump in evaluating candidates for various Cabinet roles.
By contrast, Bessent was a key economic advisor during Trump’s 2024 campaign, further solidifying his ties to the incoming administration. Republican Senator Lindsey Graham of South Carolina also publicly endorsed Bessent, noting his qualifications and familiarity with the senator.
As the transition unfolds, discussions about these potential appointments signal a pivotal moment in economic policymaking under the new administration.