Billionaire Elon Musk has thrown his support behind Howard Lutnick for the role of Treasury Secretary under President-elect Donald Trump. This endorsement comes amid intense competition and infighting among contenders, further delaying Trump’s economic appointments. Musk praised Lutnick, CEO of Cantor Fitzgerald LP, as a “disruptor,” contrasting him with Scott Bessent, the founder of Key Square Group LP, whom Musk describes as a “business-as-usual choice.” The rivalry has prompted lobbying efforts from both sides, with Lutnick’s and Bessent’s allies actively reaching out to Trump. The chaotic campaign for the Treasury position has led Trump and his staff to consider other candidates, including Robert Lighthizer, Senator William Hagerty, and Marc Rowan.
Musk’s backing was in response to investor Kyle Bass, who had tweeted in favor of Bessent’s qualifications. Despite Musk’s influence, he faced a setback this week when Senate Republicans elected John Thune over Rick Scott, whom Musk had endorsed.
In related news, Trump officially nominated Senator Marco Rubio as Secretary of State and extended the role of Republican National Committee co-chair to Michael Whatley. Trump’s transition team appears strained, with continuing pressure to fill key roles promptly while fending off public feuds.
Original Story https://www.livemint.com/news/world/musk-throws-support-to-lutnick-over-bessent-in-treasury-race-11731795292365.html
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