Former US President Donald Trump has dismissed widespread speculation that he is handing over the presidency to tech magnate Elon Musk, calling such claims a “hoax” during a conservative gathering in Phoenix on Sunday.
“No, he’s not taking the presidency,” Trump declared to a supportive audience at Turning Point USA’s AmericaFest 2024. “You know, they’re on a new kick. All the different hoaxes. The new one is that President Trump has ceded the presidency to Elon Musk. No, no, that’s not happening.”
The rumors highlight the significant role Musk has already assumed in Trump’s incoming administration, which is set to begin next month. Trump has appointed Musk to lead the Department of Government Efficiency, an initiative focused on cost-cutting and deregulation. While not an official government body, the group operates out of the Washington offices of Musk’s SpaceX and coordinates efforts through a dedicated account on Musk’s social media platform, X.
Critics have raised concerns about potential conflicts of interest, given Musk’s wide-ranging business ventures, which include Tesla, SpaceX, the Boring Company, and satellite firm Starlink. These companies are not only regulated by the federal government but also benefit from lucrative federal contracts.
The controversy intensified last week after Musk vocally opposed a budget compromise in Congress, amplifying criticism of the legislation on X. The bill ultimately failed, paving the way for a streamlined version that narrowly averted a government shutdown. Musk has since drawn more attention with a post on Monday calling the Federal Reserve “absurdly overstaffed,” a sentiment that seems to align with Trump’s own views.
Before the election, Trump remarked in a Bloomberg interview that the role of Federal Reserve chairman is “among the easiest jobs in Washington.”
Trump has often praised Musk for his technological expertise and credited the billionaire for his pivotal role in securing Pennsylvania during the election. Musk, the largest single donor in the campaign, contributed $238.5 million to a pro-Trump political action committee.
“Isn’t it nice to have smart people we can rely on? Don’t we want that?” Trump asked the audience in Phoenix.
However, Trump firmly rejected any notion of Musk stepping into the presidency. “But no, he’s not going to be president, that I can tell you,” Trump added with a laugh. “And I’m safe. You know why? He can’t be. He wasn’t born in this country. Ha ha ha.”
Musk, who was born in South Africa, is constitutionally ineligible for the US presidency, which requires candidates to be natural-born citizens.
Despite the denial, Trump’s remarks reflect the unusual influence Musk has wielded even before the administration’s official start. With Musk’s appointment sparking both admiration and criticism, his involvement is sure to remain a topic of debate in the months to come.
