United States President-elect Donald Trump dismissed claims that he has “ceded the presidency” to billionaire Elon Musk, addressing the issue during a speech in Arizona. Trump praised Musk but unequivocally stated, “And no, he’s not taking the presidency,” calling the rumors another “hoax” propagated by political opponents.

The comments follow Musk’s increasingly visible role in the lead-up to Trump’s inauguration. Musk, the owner of Tesla and SpaceX, joined Trump in opposing a controversial congressional budget bill, contributing to its renegotiation. Musk’s involvement has drawn criticism from Democrats and some Republicans, intensifying speculation about his influence in Trump’s administration.

Trump humorously noted that Musk could never officially take the presidency, stating, “You know why he can’t be [president]? He wasn’t born in this country,” referring to Musk’s South African birthplace.

Musk, the world’s richest person, endorsed Trump during the 2024 election and donated $200 million to a Political Action Committee supporting his campaign. Post-election, Musk was appointed to lead the proposed Department of Government Efficiency (DOGE), an advisory panel aimed at streamlining federal spending. The panel’s vaguely defined role has sparked concerns about Musk’s influence.

The recent budget bill controversy underscored Musk’s sway. Trump and Musk opposed provisions in the initial bipartisan deal, which led to its renegotiation. House Speaker Mike Johnson confirmed speaking with both men during discussions, and the revised bill was signed by outgoing President Joe Biden. It funds the government until March but avoids addressing the contentious debt ceiling, a key issue Trump wanted deferred until after his inauguration.

Musk’s criticism of the original bill on his social media platform X, including threats to back primary challenges against lawmakers supporting it, attracted significant attention. While some Republicans have embraced Musk’s role—Representative Tony Gonzales likened him to a “prime minister”—others have expressed concern.

Democratic Representative Rosa DeLauro criticized Musk’s influence, particularly the removal of a provision that could have restricted his business dealings in China. “House Republicans have surrendered to an unelected billionaire,” DeLauro stated, reflecting widespread apprehension among Democrats.

As Trump prepares to assume office, Musk’s growing prominence continues to divide opinion, raising questions about the balance of power between the president-elect and his influential advisor.