Musk Endorses Howard Lutnick for Treasury Secretary in Trump's Cabinet

Musk favors Lutnick over Bessent for Treasury secretary to drive real economic change. Both Lutnick and Bessent back Trump's policies, but Lutnick promises a bolder approach.

Tech billionaire Elon Musk has endorsed Howard Lutnick, CEO of Cantor Fitzgerald, for the position of Treasury secretary in Donald Trump’s administration.

Musk shared a screenshot of Lutnick’s LinkedIn post on his Twitter page, adding his own commentary on the matter. He suggested that Lutnick, a devoted Trump ally, could bring about major change in the role.

Musk compared Lutnick’s potential to Scott Bessent, a leading contender for the position. He said that Bessent represented “business as usual” and lacked the boldness needed for America’s economic future.

The candidates in questionLutnick and Bessent both have strong ties to Trump, but Musk seems to see Lutnick as the candidate who will push for reform.

Bessent, the founder of Key Square Capital, has received widespread support, but Musk believes he would continue existing economic policies without the necessary transformation.

Lutnick, on the other hand, is seen as someone who could enact new ideas and policies that break from tradition.

While Bessent has a well-established reputation on Wall Street, Lutnick’s ability to influence change makes him an appealing option. Both men have experience with economic policy, but Musk emphasized that a new direction is needed for America’s future.

The next Treasury chief will be tasked with tackling important issues like tariffs and digital assets, which have been central to Trump’s monetary agenda.

Musk’s endorsement of Lutnick is likely to carry significant weight, given his vast following on social media and his close relationship with the president. It remains to be seen whether Trump will ultimately heed Musk’s suggestion.