The odds of Howard Lutnick becoming the future Treasury Secretary in Trump’s Cabinet have increased on Polymarket after Elon Musk endorsed him.
The seat of Secretary of the Treasury is one of the only positions left unfilled, with several names rumored to be possible candidates.
The two frontrunners are Scott Bessent and Howard Lutnick, with Kevin Warsh and Marc Rowan also possibilities.
On November 16, Elon Musk took to his X platform to provide his thoughts as he writes: “Would be interesting to hear more people weigh in on this for @/realDonaldTrump to consider feedback.
“My view fwiw is that Bessent is a business-as-usual choice, whereas @/howardlutnick will actually enact change.
“Business-as-usual is driving America bankrupt, so we need change one way or another.”
Since then, Lutnick’s odds have become more favorable on Polymarket. Ahead of November 13, Howard Lutnick was sitting at around a 15% chance at its peak of being Trump’s pick.
In the days that followed, and after Musk’s post, his chances soared to 50.4% which beat out Scott Bessent’s 48%.
Now, on November 18, the odds are standing at 37% for Scott Bessent, 34.7% for Howard Lutnick, 17% for Kevin Warsh, and 9% for Marc Rowan.
It’s not yet known when Donald Trump will make his pick, but he has previously called the investor and hedge fund manager Scott Bessent “one of the most brilliant men on Wall Street.”
According to the Wall Street Journal, Trump met with Bessent at his Mar-a-Lago estate in Florida on Friday as he was said to be nearing a decision on his nominee to lead the Treasury Department.
Bloomberg Businessweek has previously reported, in July 2024, that the businessman was a key economic advisor to Trump. Bessent is a 62-year-old founder of a macro investment firm, called Key Square Group.
Howard Lutnik is the CEO of Cantor Fitzgerald and he fundraised for Trump in both 2019 and 2024. He even spoke at a rally at Madison Square Garden at the end of October.
Image: AI-generated via Ideogram
