Bessent, Lutnick in Final Push for Trump Treasury Secretary Pick

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(Bloomberg) – Billionaire Elon Musk expressed his support for Howard Lutnick in the race to be President-elect Donald Trump’s next Treasury secretary, as warring camps make final pushes to obtain the coveted Cabinet position.

Infighting has delayed decisions on Trump’s economic choices even as he rushes to fill several other positions in his incoming administration.

Musk said on his social media platform

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People familiar with the decision-making process said allies of both Besant and Lutnick are pressuring Trump, which is creating tension and increasing the chance of another candidate emerging.

Trump himself has appeared frustrated with the infighting and staffers are looking for alternatives, and names in the mix include Robert Lighthizer, Sen. William Hagerty and the CEO of Apollo Global Management Inc.

Lutnick was a major supporter of Trump’s fundraising in the final months of the campaign and helped lead the team’s transition to the presidency. For that reason, some key advisers are considering what Lutnick could take over — if not the Treasury Department — as an ambassadorial position, according to people familiar with the decision.

Ultimately, it’s up to Trump, who doesn’t share his opinion publicly, some people said.

Musk said he sees Besant as a “business as usual option” while Lutnick will “make a real difference,” and encouraged others to publicly weigh in on the decision.

Lutnick currently serves as co-chair of the Trump transition effort. Picente was still at Trump’s Mar-a-Lago club on Saturday.

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Musk’s post was a response to veteran investor Kyle Bass, who wrote that Bessent was “significantly more qualified than Howard Lutnick to run the US Treasury” and understood “markets, economics, people and geopolitics better than anyone I’ve ever dealt with.” “

Lutnick’s past campaign donations could complicate matters as he competes for a Cabinet position. He gave $2,700, then the maximum, to Hillary Clinton’s campaign on June 30, 2015, Federal Election Commission records show. He also donated in the 2016 election cycle to Kamala Harris’ Senate campaign, along with other politicians in both parties.

A representative for Lutnick declined to comment, as did Bessent.

Musk has been a regular presence at Trump’s side since Election Day, participating in meetings, calls and transition meetings with foreign leaders and earning his appointment to a panel examining government efficiency. But the limits of his political influence became apparent this week, when Senate Republicans elected John Thune of South Dakota over Rick Scott of Florida — whom Musk has publicly supported — as their next leader.

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Lobbying efforts for the Treasury Department position, which will be at the heart of Trump’s ambitious tariff and tax policy reform agenda, have intensified in recent days, as the competition for the position spreads to the headlines. Larry Kudlow, Trump’s former National Economic Council director, has told the president-elect’s team that he wants no role in the new administration.

Here are the latest updates from the transfer:

Trump supports Whatley

CNN reported that the president-elect used a meeting on Friday night at his club, Mar-a-Lago, to publicly announce his support for Republican National Committee co-chair Michael Whatley for another term.

Trump invited Whatley to the stage during a donor meeting for the Conservative Political Action Conference at his home and offered him the job, which Whatley accepted. The North Carolina attorney has chaired the committee alongside Lara Trump, the president-elect’s daughter-in-law, since March, when Chairwoman Ronna McDaniel was removed from the position at Trump’s request.

Trump’s nomination of Senator Marco Rubio as US Secretary of State has sparked calls for Florida Governor Ron DeSantis to appoint Lara Trump to her position for the next two years.

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On the Democratic side, the US ambassador to Japan and former White House chief of staff, Rahm Emanuel, is considering a bid to run for chair of the Democratic National Committee, according to Axios.

Staff Secretary

Trump announced Saturday that he will appoint William Owen Scharf, one of his lawyers, as staff secretary, a crucial behind-the-scenes role in the White House that determines the flow of documents to and from the Oval Office.

“Will is a very skilled attorney and will be an important part of my team at the White House,” Trump said in a statement. “He played a key role in defeating the election interference and legal war against me, including winning a landmark immunity decision in the Supreme Court.”

Trump’s chief secretary of staff, Rob Porter, was among a tight cadre of senior aides during his first term and had an affair with Hope Hicks, the White House communications director. But the pair became tabloid figures – and Porter resigned – after allegations of domestic abuse by two ex-wives surfaced.

Energy function

Trump also announced on Saturday that he would choose Chris Wright, who runs a Colorado-based oil and natural gas services company, to lead the Department of Energy.

– With assistance from Amanda Gordon, Bill Allison, Justin Sinek, and Joshua Green.

(Updates throughout)

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