U.S. President-elect Donald Trump has played down the notion that he will transfer the presidency to billionaire Elon Musk.

Mr Musk played a significant role in Mr Trump’s historic return to the White House following his victory in the November presidential election.

Speaking in Arizona on Sunday, Mr Trump addressed widespread speculations, saying the U.S. presidency will not be ceded to the X owner.

“And no, he’s not taking the presidency. He’s not going to be president, that I can tell you. You know why he can’t be? He wasn’t born in this country,” Mr Trump stressed.

Mr Trump further slammed his political opponents for pushing the narrative, describing the speculations as a “hoax.”

Mr Trump’s comments came a day after outgoing President Joe Biden signed a funding bill to prevent a government shutdown into law.

The previous bill negotiated by members of both parties in Congress was attacked days earlier when Messrs Trump and Musk came out in opposition.

Mr Musk’s influence before and after Mr Trump’s electoral victory in November has become a focus point for Democratic attacks, with concerns about how an unelected citizen can wield so much power.

The South African-born Musk, the world’s richest person according to Forbes Magazine, became one of Mr Trump’s biggest supporters following an assassination attempt and pumping an estimated $200 million into a Political Action Committee (PAC) supporting Mr Trump.