Elon Musk’s backing of a Treasury secretary candidate causes strife
Elon Musk weighed in over the weekend on the increasingly tense battle for Treasury secretary in the second Trump administration—and that has reportedly raised the hackles of some Trump advisers, who worry his influence might have grown too large.
The Washington Post reported that Musk’s endorsement via social media of Howard Lutnick, who is co-leading the Trump transition team, could add confusion to the process. One adviser suggested to the Post that Musk was acting as a “co-president” and could be overstepping his advisory role with Trump.
The Trump transition team didn’t immediately respond to a request for comment.
Musk on Saturday encouraged people on X to “weigh in” on who they thought should be Treasury secretary, then backed Lutnick over hedge fund manager Scott Bessent, saying “Bessent is a business-as-usual choice, whereas @howardlutnick will actually enact change.”
Bessent is more skeptical of cryptocurrencies than Lutnick, who has suggested people could use it to pay their taxes.
Musk played a significant role in Trump’s re-election, putting over $100 million of his own money into a political action committee focused on Trump and appearing at several rallies. However, his public push for Lutnick before Trump has made a decision caught many off guard.
Despite the apparent unease of some Trump staffers with Musk’s actions, there is no evidence that any rift has formed between Musk and Trump themselves. Musk is still spending much of his time at Mar-a-Lago and traveled with Trump to New York Saturday to attend a UFC fight.
Whoever becomes Treasury secretary, Musk is likely to work somewhat closely with them as part of his duties with the Department of Government Efficiency (DOGE). DOGE will work with the White House Office of Management and Budget to implement the recommendations of Musk and Vivek Ramaswamy. Musk has said previously he believes it is possible to cut $2 trillion from the federal budget, though many have been skeptical of this figure.
You Might Also Like
Pizza Hut opens its first next-gen drive thru in the U.S.
Pizza Hut got its start as a sit-down restaurant, festooned with tiffany lamps and checkered tablecloths. Its present is largely...
Navy is transforming stealthy Zumwalt with hypersonic weapons
The U.S. Navy is transforming a costly flub into a potent weapon with the first shipborne hypersonic weapon, which is...
Marsh McLennan CIO’s journey: From summer job to leading a team of 5,000
Paul Beswick first joined Marsh McLennan in 1995 when he took a summer job at the insurance brokerage and management...
Adani summoned by US SEC to explain position in bribery case
Indian billionaire Gautam Adani and his nephew, Sagar Adani, were summoned by the US Securities and Exchange Commission to explain...