As President-elect Donald Trump finalizes his cabinet, billionaire Elon Musk has publicly endorsed Cantor Fitzgerald CEO Howard Lutnick for Treasury Secretary, calling him a "real change" candidate over hedge fund manager Scott Bessent, whom Musk described as "opting for business as usual."
Musk, a key Trump ally and co-chair of the government productivity committee, has used his X platform (formerly Twitter) to call for greater public participation in the electoral process.
“It would be interesting to hear more people weigh in on this so @realDonaldTrump can consider the response,” Musk wrote. “Business as usual is bankrupting America, which is why we need change,” he added, noting Lutnick’s potential to enact meaningful reform.
Lutnick has attracted attention for his unconventional views, including openness to using cryptocurrencies like Bitcoin to pay taxes, while Bessent is seen as a traditional, business-friendly candidate who is skeptical of cryptocurrencies.
Lutnick also received support from Trump's pick for Secretary of Health and Human Services, Robert F. Kennedy Jr., who praised his pro-Bitcoin stance.
“Bitcoin is the currency of freedom, a hedge against inflation for middle-class Americans,” Kennedy wrote, adding that “Bitcoin will have no stronger advocate than Howard Lutnick” (although he misspelled Lutnick’s name).
Trump has announced several high-profile cabinet appointments, including Florida Sen. Marco Rubio as secretary of state and former Florida Rep. Matt Gaetz as attorney general. But the Treasury secretary position remains unfilled, putting the position at the center of political and public attention.
Trump also appointed former federal prosecutor Will Scharf as vice president and White House staff secretary, while Republican House Speaker Mike Johnson met with Trump at Mar-a-Lago over the weekend.
Trump's weekend schedule includes attending the UFC heavyweight championship fight between Stipe Miocic and Jon Jones at Madison Square Garden. Trump has a longstanding relationship with UFC President Dana White, who hosted a UFC event at the Trump Taj Mahal in 2001 and remains a close ally.
