Trump Drops Musk-Backed Isaacman For NASA Chief: Is He Heading Back to Shift4 Payments?

Some retail traders on Stocktwits were wondering whether Issacman would return to Shift4 and what kind of impact it would have.

The White House withdrew the nomination of Jared Issacman, a key ally of Elon Musk, as NASA head on Saturday, days before the Senate's expected confirmation.

"After a thorough review of prior associations, I am hereby withdrawing the nomination of Jared Isaacman to head NASA," Trump said on a post on Truth Social before adding that he would announce a fresh nominee soon.

Issacman was the CEO of the fintech firm Shift4 Payments (FOUR) and a private astronaut with close ties with Musk and SpaceX, which is expected to receive billions of dollars worth of government contracts over the rest of the decade.

The Republican President’s abrupt announcement followed Musk’s departure from his role as a special adviser and the head of the Department of Government Efficiency last week.

Musk, the top donor during Trump’s 2024 campaign, has come under intense scrutiny over DOGE’s efforts to trim the federal workforce and faces several lawsuits.

"It is rare to find someone so competent and good-hearted," The Tesla CEO said about Isaacman on X.

During his confirmation hearings in the Senate, Issacman said NASA would be able to carry out missions to the moon and Mars simultaneously. Musk and Trump have both expressed their desire to set up a human colony on the red planet.

"I am incredibly grateful to President Trump, the Senate, and all those who supported me," Issacman said.

His replacement will have to manage the space agency amid sweeping changes proposed by Republicans, including slashing its budget by 25%, laying off thousands of employees, and gutting several missions.

Some retail traders on Stocktwits wondered whether Issacman would return to Shift4 and what impact it would have.

Shift4 stock has declined 10.3% year-to-date (YTD).

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